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Optimisation and Statistical Decision Analysis

Course Information

  • Sessions 1 day
  • Duration 7.5 hrs
  • Level Beginner
  • Assessment NA

Venue

Kuala Lumpur: G-3A-02, Suite Pejabat Korporat, KL Gateway, No 2, Jalan kerinchi, Gerbang kernichi Lestari, 59200 Kuala Lumpur, Malaysia
Penang: Jalan Sungai Dua, 11700 Penang, Malaysia.

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Certification

  • Certificate of Completion from Tertiary Courses - Upon meeting at least 75% attendance and passing the assessment(s), participants will receive a Certificate of Completion from Tertiary Courses.

Optimisation and Statistical Decision Analysis

Course Code: C951
  • HRDF

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What's This Course About

Dive deep into the world of advanced decision-making with our course on Optimisation & Statistical Decision Analysis. Designed for both business professionals and individuals, this comprehensive training will guide participants in analyzing complex problem situations and adeptly structuring them. Harnessing the power of a Decision model, learners will be equipped to represent these problem situations, laying a strong foundation for precise solution methodologies.

Progressing further, participants will master the art of solving models using cutting-edge Statistical Methods and the versatile Decision Tree model. An emphasis on the Utility Function ensures that one can seamlessly incorporate risk appetite into their decision-making process, guaranteeing well-rounded and informed decisions. The course also delves into the complexities of multicriteria decision problems, providing learners with a robust skill set to tackle diverse challenges in optimization and decision-making arenas.

WSQ Funding

Full Fee 1,050.00 Before GST
GST 94.50 9% of fee
Baseline Nett 619.50 SG/PR age 21+ · 50% funded
MCES / SME Nett 409.50 SG age 40+ · 70% funded
Funding and Grant Applications

No funding is available for this course

Course Fee

MYR1,050.00

Additional Note

Please bring your own laptop for hands-on training. If you don't have laptop, we can provide spare laptop for training use.

Disclaimer: The course dates displayed on our website are tentative and subject to trainer availability. We will confirm the final date after checking with the trainer. You are also welcome to email us your preferred date at sales@tertiarycourses.com.my, and we will do our best to coordinate with the trainer's schedule.

Post-Course Support

  • We may provide consultation related to the subject matter after the course.
  • Please email your queries to sales@tertiarycourses.com.my and we will forward your queries to the subject matter experts and get back to you as soon as possible.

Cancellation & Reschedule Policy

  • We reserve the right to cancel or re-schedule the course due to unforeseen circumstances. If the course is cancelled, we will refund 100% to participants.
  • Note: the venue of the training is subject to changes due to class size and availability of the classroom. The minimum class size to start a class is 3 Pax.

Course Details

Course Details

What You'll Learn

Topic 1: Introduction to Decision Analysis (DA).

  • Overview of Decision Analysis
  • Problem formulation
  • Influence Diagram
  • Payoff Table
  • Making decision without probabilities

Topic 2: Decision Analysis with Expected Value Approach

  • Decision Tree
  • Expected value approach
  • Bayer’s Theorem
  • Value and efficiency of Sample Information
  • Optimal decision strategy

Topic 3: Risk Analysis with Expected Utility Approach.

  • Risk Profile
  • Sensitivity Analysis
  • Utility and Decision analysis
  • Incorporating risk appetite into Utility Function
  • Expected Utility Approach

Topic 4: Multi-criteria Decision Analysis

  • Model multicriteria problems
  • Scoring board method
  • Analytic Hierarch Process (AHP)
  • Consistency Check
  • Using Excel to solve AHP

Course Info

Promotion Code

Your will get 10% discount voucher for 2nd course onwards if you write us a Google review.

Minimum Entry Requirement

Knowledge and Skills

  • Able to operate using computer functions
  • Minimum 3 GCE ‘O’ Levels Passes including English or WPL Level 5 (Average of Reading, Listening, Speaking & Writing Scores)

Attitude

  • Positive Learning Attitude
  • Enthusiastic Learner

Experience

  • Minimum of 1 year of working experience.

Target Age Group: 18-65 years old

Minimum Software/Hardware Requirement

Software:

TBD

Hardware: Window or Mac Laptops

Job Roles

Job Roles

Quality Engineers, Process Engineers, Manufacturing Engineers

This course is designed for all technicians, assistant engineers and engineers in a production, engineering and quality environment in the biomedical, semiconductor, automotive and aerospace industry who need to be equipped with a thorough understanding of statistics.

This course is also suitable for any personnel who wanted to gain deep understanding in the basic statistics and a precursor for statistical process control, measurement system analysis and other statistical applications.

The course is also useful for engineering and quality personnel who wanted to refresh statistical concept and statistical applications to do quality improvement in the production process and process capability improvement.

Trainers

Trainers

Saeid is co-founder of Skymics Sdn Bhd. He has 8 years of experience in the field of IoT (Internet of Things) and Information Technology. He is a certified IBM IoT Practitioner and instructor, and a Certified Citizen Data Scientist Train-The-Trainer. He has been co-inventor of 3 inventions during the last 4 years.

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