LEARNING OUTCOMES
Decision analytics comprises methods and tools for supporting better decision making. Often, decision analytics models must be structured in collaboration with human decision makers to capture the decision makers' values, preferences, and beliefs, and to create a sense of ownership of the decision recommendations generated by the model. This course focuses on tools and facilitation techniques in such collaborative decision analytics processes. After taking the course, the student can (i) recognize the types of real-life business problems where the use of models adds value, (ii) facilitate processes for structuring such models in collaboration with human decision makers, and (iii) interpret the results of these models to derive defensible decision recommendations.
Credits: 6
Schedule: 25.02.2025 - 03.04.2025
Teacher in charge (valid for whole curriculum period):
Teacher in charge (applies in this implementation): Eeva Vilkkumaa
Contact information for the course (applies in this implementation):
Prof. Eeva Vilkkumaa, eeva.vilkkumaa@aalto.fi.
Office hours: by appointment.
CEFR level (valid for whole curriculum period):
Language of instruction and studies (applies in this implementation):
Teaching language: English. Languages of study attainment: English
CONTENT, ASSESSMENT AND WORKLOAD
Content
valid for whole curriculum period:
Multiattribute value/utility theory, value-focused thinking, portfolio decision analysis, scenarios, behavioral decision making, group decision processes.
applies in this implementation
This course focuses on the processes of structuring a decision model in collaboration with human decision-makers, and on implementing the model on suitable software to generate decision recommendations. Special attention will be put on behavioral aspects such biases and issues related to group decision making. This year's content covers multiattribute utility and value theory, scenario-based decision models, value-focused thinking, portfolio decision making, group decision making, and behavioral biases.
Assessment Methods and Criteria
valid for whole curriculum period:
Participation in class, assignments, group project work.
applies in this implementation
Final points consist of pre-lecture quizzes (30%), class participation (10%), project presentation (20%), and project report (40%). Grading: >50p ->1; >60p -> 2; >70p -> 3; >80p -> 4; >90p -> 5. These bounds maybe relaxed during final marking.
Workload
valid for whole curriculum period:
Participation in class, assignments, group project work.
applies in this implementation
Contact teaching includes lectures, group / pair / individual work in class, Q&A sessions, a guest lecture, and group presentation sessions.
Individual work includes class preparation, quizzes, and group project work.
DETAILS
Study Material
valid for whole curriculum period:
Lecture slides, scientific articles, assignments.
applies in this implementation
Material handed out in MyCourses, consisting of lecture slides as well as mandatory + optional readings.
Substitutes for Courses
valid for whole curriculum period:
Prerequisites
valid for whole curriculum period:
FURTHER INFORMATION
Further Information
valid for whole curriculum period:
Teaching Language: English
Teaching Period: 2024-2025 Spring IV
2025-2026 Spring IVRegistration:
1. BA master's students, 2. ISM master's students, 3. Other students.
Details on the schedule
applies in this implementation
Three-hour teaching sessions twice a week (Tuesdays and Thursdays) that are used to go through the course content. The teaching sessions are recorded and posted online, but participation on campus is also mandatory due to the nature of the course. At most three sessions can be missed, but then a substitute assignment for each missed session must be handed in.