In this course, you’ll learn how to quantify and model uncertainty by using Monte Carlo simulation.
Traditional scenario analysis relies on 2 or 3 “best case” or “worst case” situations that are rarely scientific in nature. Businesses can benefit greatly from improved modeling of risk and uncertainty, by using even basic Monte Carlo simulation.
Using this technique, we can quantify and simulate scenarios that include multiple uncertainties at the same time.
This course will start from the basics, and work through five scenarios that will help you master the basics of Monte Carlo Simulation.
Using these scenarios, you’ll learn how to quantify uncertain scenarios in a more meaningful way to help make business decisions.
Upon completing this course, you will be able to:
Business Intelligence derives value from descriptive, backward-looking metrics. To provide the next level of value we must start to consider future scenarios. Modeling uncertainty and scenarios is a key part of this forward-looking skillset, and this Monte Carlo course is a perfect introduction to that world.
Approx 4h to complete
100% online and self-paced
Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning.