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MICROCREDENTIAL

Data Literacy: Data Informed Decision Making

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$1,595.00

START DATE

 Enquire now

MODE

DURATION

 8 wks

COMMITMENT

 8 wks avg 6 hrs/wk

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Learn how to apply essential data literacy and statistical techniques to make effective decisions when faced with uncertainty.

About this microcredential

In today’s world, people are increasingly asked to assess risk and make decisions in situations with uncertain information. In this microcredential, participants will learn essential quantitative literacy and critical thinking skills required to interpret data and inform decision making.

Drawing on data science methods in statistics and probability, participants will explore how to evaluate quantitative information used as evidence, as well as how cognitive bias can creep into decision making situations.

Key benefits of this microcredential

This microcredential has been designed to equip participants with:

  • An understanding of key theoretical concepts that impact approaches to complex decision-making involving risk and uncertain outcomes in government, business, not-for-profit and personal contexts
  • A range of practical tools to assist this complex decision making
  • An understanding of output from tools used by data analysts / data scientists in support of this complex decision making.

This microcredential aligns with the 2 credit point subject, Data Literacy: Data Informed Decision Making (68028) in the Master of Professional Practice (C04404) and the Master of Technology (C04406).

This microcredential may also qualify for recognition of prior learning at this and other institutions.

Who should do this microcredential?

This microcredential is suitable for anyone who needs to make decisions in a professional, academic or personal capacity and is interested in how to effectively use data in their decision making when outcomes are uncertain. This includes, but is not limited to managers and analysts.

There is no assumed background knowledge of probability or statistics required to undertake this course.             

Price

Full price: $1,595.00 (GST free)*

*Price subject to change. Please check price at time of purchase. 

Discounts are available for this course. For further details and to verify if you qualify, please check the Discounts section under Additional course information. 

Enrolment conditions

COVID-19 response 

Additional course information

Course outline

This course promotes the development of numeracy, quantitative literacy and critical thinking skills. Informed citizens need these skills to participate in discussions of significant issues in culture and society. This course focuses on the use of quantitative information as evidence to inform decision making, including risk and uncertainty.

Participants will be required to apply their skills to identify a scenario within their own professional or disciplinary context, in which a decision must be made based on uncertain information. Participants will need to consider the kinds of evidence available in these contexts, how this evidence informs such decisions and the potential for cognitive bias in making these decisions.

The following content will be covered during this course:

Module 1: Understanding stakeholders

  • Describe the kinds of decisions that would benefit from a quantitative data analysis
  • Identify the stakeholders involved in an issue and describe their positions with respect to the issue
  • Identify and explain potential biases in framings of a situation or in stakeholders’ framing of a situation.

Module 2: Types of evidence

  • Create a risk matrix and translate this into probabilities
  • Calculate an expected utility of a risk situation
  • Analyse the utility function graphs for risk averse, risk neutral and risk seeking individuals and where stakeholders may be located on this function
  • Apply bayesian judgement based on prior information of a situation.

Module 3: Using data and evidence to support a decision

  • Construct a decision tree and calculate the rollback to assist decision making
  • Incorporate the impact of time on the value of potential outcomes
  • Communicate recommendations to decision makers based on evidence.

 

Course delivery

This microcredential is delivered online. Participants will complete self-paced learning, supported by formative assessment tasks to develop their skills and knowledge. Participants will have the opportunity to present to a facilitator, their business context of choice prior to developing the case study for their final project.

Each week, key fundamentals are taught with self-contained examples, before being applied to a broader case study which is extended throughout the course. The participants will then need to complete the component of the assessment that will apply to their own case studies, so that by the end of session, the assignment should require only a small collation, prior to submission.

Course learning objectives

On successful completion of the course, participants will be able to:

  • Use data to tell a compelling story that can inform decision-making
  • Apply key concepts in statistics and probability to reveal patterns in data to help mitigate cognitive biases and misunderstandings about contentious issues
  • Use data to quantitatively evaluate a position with respect to that of other people
  • Synthesise and integrate divergent sources of evidence by applying critical and independent thinking.

Assessment

  • Task (a) - Formative quizzes (15%): participants will complete a series of short quizzes using data, to quantitatively evaluate a position with respect to that of other people. Cognitive biases and misunderstandings about contentious issues in interpreting data are addressed.
  • Task (b) - Decision proposal (25%): participants will be required to give a 3-minute oral presentation outlining the business case in which a decision must be made, which they will use for their case study. Typical examples would be decisions based upon customer retention and marketing strategies. The participant will be provided with feedback on how appropriate the context is to integrate divergent sources of evidence and apply critical and independent thinking. Participants will be evaluated on how the context and data may be used to tell a compelling story that can inform decision making.
  • Task (c) - Data informed recommendation report (60%): in a 1000-word report, participants will be required to use and apply the methodologies explored throughout the modules to their business case, to arrive at a decision in conditions of uncertainty.

Participants will be required to produce:

  • A profile of a stakeholder who must make a decision and the various impacts (utility, harm, etc.) the decision might have
  • A discussion of the evidence available to support the stakeholder’s decision
  • A data analysis that makes use of that evidence, to choose between alternative pathways, clearly describing the various strengths and weaknesses of those pathways and the evidence used to support them
  • A recommendation of the decision that should be made, along with clear reasons for that recommendation that make use of both quantitative and qualitative arguments.

Assessment criteria:

  • Analyses a professional or disciplinary context and potential sources of evidence relevant to a decision that a stakeholder must make, clearly describing the uncertainty and ambiguity they face
  • Uses data and evidence to evaluate the risks, benefits and uncertainty associated with various decision pathways
  • Frames and communicates the recommended decision in a compelling manner, integrating cultural and cognitive factors as appropriate.

Requirements

Mandatory

  • To complete this online course, you will need a personal computer with reliable Internet access, web conferencing capability and an operating system with a web browser compatible with the Canvas Learning Management System.

Discounts

Discounts are available for this course as follows:

  • 10% discount UTS alumni and staff.

Discounts cannot be combined and only one discount can be applied per person per course session. Discounts can only be applied to the full price. Discounts cannot be applied to any offered special price. 

How to obtain your discount voucher code (UTS alumni)

  • Please contact the team at support@open.uts.edu.au with your student number to obtain your discount voucher code. 

How to enrol and obtain your UTS staff discount (UTS staff)

 

How to apply your discount voucher 

  • If you are eligible for a UTS alumni discount, please ensure you have provided your UTS student number in your UTS Open Profile (under “A bit about you”). If you have forgotten your UTS student number, email support@open.uts.edu.au with your full name, UTS degree and year of commencement.  
  • Add this course to your cart 
  • Click on "View Cart" (blue shopping trolley at top right of screen). You will need to sign in or sign up to UTS Open 
  • Enter your eligible code beneath the “Have a code?” prompt and click on the blue "Apply" button 
  • Verify your voucher code has been successfully applied before clicking on the blue "Checkout" button. 

 

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UTS acknowledges the Gadigal people of the Eora Nation, the Boorooberongal people of the Dharug Nation, the Bidiagal people and the Gamaygal people, upon whose ancestral lands our university stands. We would also like to pay respect to the Elders both past and present, acknowledging them as the traditional custodians of knowledge for these lands.

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