Course Outline
Learning Outcomes
This course focuses on well-established quantitative and qualitative decision-making methods and makes use of modern software data analysis tools. It discusses statistical analysis, multi-criteria analysis, fuzzy logic and data mining methods and makes use of appropriate software tools to facilitate data analysis and decision making in tourism related problems. The course content is reviewed continuously by adopting recent development in the decision-making domain. The course is delivered in lab sessions. Individual and group coursework are assigned thus providing the students the opportunity to comprehend the course material by analyzing real life, large data sets.
Students upon successful completion of the module will be able to:
- Understand the role of cognitive phycology in decision making.
- Select the how to use data analysis method(s) in decision making.
- Use and evaluate modern decision-making technologies.
- Justify their decisions.
General Competencies
Students upon successful completion of the module students are expected to develop the following skills:
- Information search, analysis, and synthesis with the utilization of modern appropriate technologies,
- Development of independent, creative, and inductive way of thinking,
- Decision making,
- Group work,
- Ability to adopt to changing situations.
Syllabus
The module provides students with the necessary tools and skills to comprehend issues pertaining to decision making, for tackling complex business problems related to tourism services with a structured way by using modern quantitative and qualitative approaches based on decision making technologies.
- Introduction to decision making.
- Knowledge, Biases and Judgment in managerial decision-making.
- Contribution of cognitive phycology, rationalism, and biases to decision making.
- Statistical methods
- (descriptives, graphs, OLAP,
- hypothesis testing,
- factor analysis).
- Multi-criteria analysis.
- Machine Learning applications
- Sentiment Analysis
- Clustering
- Applications using SPSS and Microsoft Excel.
- The emphasis of the course is on business decisions making, so it focuses on data analysis cases drawn from the tourism sector.