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

Access provided by ExxonMobil

3,738 already enrolled

4 modules

Gain insight into a topic and learn the fundamentals.

41 reviews

Beginner level

Recommended experience

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

4 modules

Gain insight into a topic and learn the fundamentals.

41 reviews

Beginner level

Recommended experience

1 week to complete

at 10 hours a week

Flexible schedule

Learn at your own pace

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

Skills you'll gain

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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

When you enroll in this course, you'll also be enrolled in this Professional Certificate.

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Develop job-relevant skills with hands-on projects
Earn a shareable career certificate from Fractal Analytics

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 assignments

7 videos Total 38 minutes

Program Introduction 5 minutes
Introduction to Human Decision Making 1 minute
Making Better Decisions - An Introduction 5 minutes
Mathematical Thinking 12 minutes
The Brain on Decisions 3 minutes
Everyday Decisions 4 minutes
The VUCA World 8 minutes

6 readings Total 170 minutes

Course Syllabus 30 minutes
Disclaimer 10 minutes
Decision-Making Journal 30 minutes
Decisive (Chip & Dan Heath) 60 minutes
Case Study - The Monty Hall Problem 30 minutes
Case Study - The Monty Hall Problem Analysis 10 minutes

2 assignments Total 60 minutes

Challenges in Decision Making 30 minutes
Case Study - The Monty Hall Problem 30 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 videos Total 41 minutes

Case 1: The Art of Data (and War) - Armoring Planes for Additional Safety 8 minutes
How Algorithms Can Help 9 minutes
But Algorithms Aren’t the Panacea 11 minutes
Simpson's Paradox and Significance of Business Intuition 8 minutes
Bringing Data to Intuition and Vice Versa 5 minutes

1 reading Total 60 minutes

Thinking Fast & Slow (Daniel Kahneman) 60 minutes

1 assignment Total 30 minutes

The Role of Data in Decision Making 30 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 videos Total 25 minutes

12 Angry Men - Exploring Human Nature 1 minute
12 Angry Men - Unpacking the Case 2 minutes
12 Angry Men - The Challenge of Dissenting Voices 2 minutes
12 Angry Men - Confirmation Bias and the Complexities 3 minutes
12 Angry Men - Ten Decision-Making Lessons (Part A) 8 minutes
12 Angry Men - Ten Decision-Making Lessons (Part B) 9 minutes

1 reading Total 100 minutes

12 Angry Men - The Movie 100 minutes

1 assignment Total 30 minutes

Challenges in Group Decision Making 30 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 videos Total 38 minutes

Challenger Launch Case - A Tragic Beginning 3 minutes
Challenger Launch Case - Analyzing the Data 3 minutes
Challenger Launch Case - Resulting vs. Decision Quality 5 minutes
Challenger Launch Case - Uncovering Critical Data 2 minutes
Challenger Launch Case - Normalization of Deviant Behavior 3 minutes
Context and Decision Environments: Challenger Launch Case vs. 12 Angry Men 6 minutes
Advocacy vs. Inquiry: Shaping Decision-Making 3 minutes
Type One and Type Two Decisions 3 minutes
Organizational Decision Making - Assumptions and Myths 4 minutes
Building a Decision Making Framework 2 minutes
Conclusion 4 minutes