Full course description
Welcome to Decision Making Using Business Metrics! Metrics are measures which we use to help us with decisions. A metric is a measuring system that quantifies a trend, dynamic, or characteristic. In almost all disciplines practitioners use metrics to explain phenomena, diagnose causes, share findings, and project the results of future events. These are used to in our decision making processes. They allow us to compare our current state with our forecasted state. They allow us to compare our business to our competitors. Dr. Butler will present the process used to develop basic metrics we use in our decision-making processes for business. From rational decision-making to heuristic decision-making, general metrics employed in the business are presented. These include internal (company) and external (market) metrics; and forward looking versus backward looking metrics.