Human Decision Making and its Biases

Human Decision Making and its Biases

This course is part of Fractal Data Science Professional Certificate

Instructors: Srikanth Velamakanni

What you'll learn

Explain how humans behave when given data to calculate results
Demonstrate how perceptions, prejudices and biases affect human decision making
Illustrate that human decision making is challenging and humans need help to make better decisions
Summarize how humans can collaborate effectively with AI, overcoming their biases, perceptions and prejudices

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Assessments

6 assignments

Taught in English

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This course is part of the Fractal Data Science Professional Certificate

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There are 4 modules in this course

This course discusses the biases and limitations of the human brain ,strategies to overcome these biases, and critically analyzes data while making decisions and recommendations.

Analyzing data effectively and objectively is a long journey and the first step is to be aware of these biases, prejudices and perceptions. By the end of this course, you would develop a deep understanding of the biases that affect human decision making and the methodologies to apply in countering these biases. You will also be equipped with frameworks for effective decision-making. Enroll in this course to uncover the intricacies of human decision making and embark on an exploration of human decision making. No previous experience required

Perceptions, prejudices, and biases greatly impact human decision making. These factors influence how we interpret information and can lead to errors in judgment. When presented with data, humans tend to selectively process it based on their existing beliefs, resulting in biased decision making. Overcoming these challenges is essential for making better decisions. By recognizing the need for assistance and utilizing tools to mitigate biases, individuals can improve their decision-making abilities and make more informed choices.

What's included

7 videos6 readings2 assignments1 discussion prompt

7 videosTotal 38 minutes

Program Introduction4 minutesPreview module
Introduction to Human Decision Making1 minute
Making Better Decisions - An Introduction4 minutes
Mathematical Thinking12 minutes
The Brain on Decisions3 minutes
Everyday Decisions3 minutes
The VUCA World8 minutes

6 readingsTotal 170 minutes

Course Syllabus30 minutes
Disclaimer10 minutes
Decision Making Journal30 minutes
Decisive (Chip & Dan Heath)60 minutes
Case Study - The Monty Hall Problem30 minutes
Case Study - The Monty Hall Problem Analysis10 minutes

2 assignmentsTotal 60 minutes

Challenges in Decision Making30 minutes
Case Study - The Monty Hall Problem30 minutes

1 discussion promptTotal 15 minutes

Your decision making framework - current15 minutes

This module equips the learner with knowledge on how data which is available and unavailable affects our decision making. Further it provides information on how algorithms can help decode some of this data making decision making easier

What's included

5 videos1 reading1 assignment

5 videosTotal 40 minutes

Case 1: The Art of Data (and War) - Armoring Planes for Additional Safety8 minutesPreview module
How Algorithms Can Help8 minutes
But Algorithms Aren’t the Panacea11 minutes
Simpson's Paradox and Significance of Business Intuition7 minutes
Bringing Data to Intuition and Vice Versa5 minutes

1 readingTotal 60 minutes

Thinking Fast & Slow (Daniel Kahneman)60 minutes

1 assignmentTotal 30 minutes

The Role of Data in Decision Making30 minutes

This module takes 12 Angry Men as a case study due to its focus on diverse perspectives, logical analysis, and group dynamics influencing a jury's verdict, highlighting biases and critical thinking.

What's included

6 videos1 reading1 assignment

6 videosTotal 25 minutes

12 Angry Men - Exploring Human Nature1 minutePreview module
12 Angry Men - Unpacking the Case1 minute
12 Angry Men - The Challenge of Dissenting Voices 2 minutes
12 Angry Men - Confirmation Bias and the Complexities3 minutes
12 Angry Men - Ten Decision-Making Lessons (Part A)8 minutes
12 Angry Men - Ten Decision-Making Lessons (Part B)8 minutes

1 readingTotal 100 minutes

12 Angry Men - The Movie100 minutes

1 assignmentTotal 30 minutes

Challenges in Group Decision Making30 minutes

This module empowers learners by providing knowledge about responsible decision making and giving them with a personalized mental checklist for enhanced decision-making capabilities.

What's included

11 videos3 readings2 assignments1 discussion prompt

11 videosTotal 38 minutes

Challenger Launch Case - A Tragic Beginning2 minutesPreview module
Challenger Launch Case - Analyzing the Data3 minutes
Challenger Launch Case - Resulting vs. Decision Quality5 minutes
Challenger Launch Case - Uncovering Critical Data2 minutes
Challenger Launch Case - Normalization of Deviant Behavior3 minutes
Context and Decision Environments: Challenger Launch Case vs. 12 Angry Men5 minutes
Advocacy vs. Inquiry: Shaping Decision-Making3 minutes
Type One and Type Two Decisions3 minutes
Organizational Decision Making - Assumptions and Myths4 minutes
Building a Decision Making Framework1 minute
Conclusion3 minutes

3 readingsTotal 130 minutes

Case Study - The Space Shuttle Challenger Disaster60 minutes
Jeff Bezos - Shareholder Letter60 minutes
Recommended Reading10 minutes

2 assignmentsTotal 90 minutes

Shaping Decision Making30 minutes
Case study – The Space Shuttle Challenger Disaster60 minutes

1 discussion promptTotal 30 minutes

Your own decision making framework - Then and Now30 minutes

Instructors

Instructor ratings

4.9 (13 ratings)

Srikanth Velamakanni

Fractal Analytics

1 Course2,298 learners

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Fractal Analytics

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4.9

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Reviewed on Feb 22, 2024

This course is highly recommended if you're interested in learning about the limitations and biases of the human brain, how to overcome them, and how to critically analyse data while making decisions.

Reviewed on Mar 25, 2024

A very interesting course on how various factors affect our decision-making process. It helps take better and informed decisions.

Reviewed on Jan 4, 2024

Wonderfully translated the common practices and thought processes with examples. Easy to follow and replicate in our daily decision making and feel the difference. Thank you!

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