Skills you'll gain: Accounting, Business Analysis, Data Analysis, Finance, Financial Analysis, Financial Management, Financial Accounting, Investment Management, Budget Management, Management Accounting, Leadership and Management, Research and Design
Beginner · Course · 1-3 Months
Skills you'll gain: Data Analysis, Business Analysis, Probability & Statistics, Statistical Analysis, General Statistics, Machine Learning, Regression, Basic Descriptive Statistics, Exploratory Data Analysis, Machine Learning Algorithms, Plot (Graphics), Database Design, Database Theory, Databases, Data Management, Big Data, Correlation And Dependence, Data Analysis Software, Data Visualization, Markov Model, Data Model, Data Structures, Algorithms, Applied Machine Learning, Artificial Neural Networks, Computer Vision, Dimensionality Reduction, Mathematics, Probability Distribution, Spreadsheet Software, Statistical Visualization, Theoretical Computer Science, Business Intelligence, Cloud Computing, Financial Analysis, SQL, Statistical Programming
Intermediate · Specialization · 3-6 Months
Skills you'll gain: Data Analysis, Power BI, Data Visualization, Computer Programming, Computer Programming Tools, Accounting, Audit, Data Management, Extract, Transform, Load, Business Psychology, Entrepreneurship
Beginner · Course · 1-3 Months
Skills you'll gain: Accounting, Business Analysis, Data Analysis, Data Management, Financial Analysis, Probability & Statistics, General Statistics, Correlation And Dependence, Data Visualization, Business Intelligence, Probability Distribution, Statistical Analysis
Mixed · Course · 1-3 Months
Skills you'll gain: Leadership and Management, Data Analysis, Entrepreneurship, Research and Design, Applied Machine Learning, ArcGIS, Biostatistics, Business Analysis, Business Psychology, Critical Thinking, Machine Learning, Market Research, Organizational Development, Planning, Probability & Statistics, Problem Solving, Statistical Machine Learning, Statistical Programming, Strategy and Operations
Intermediate · Course · 1-3 Months
Skills you'll gain: Data Analysis, Data Science, Statistical Programming, Business Analysis, SQL, Spreadsheet Software, Business, Data Visualization, Data Management, R Programming, Exploratory Data Analysis, Statistical Visualization, Communication, Statistical Analysis, Data Analysis Software, Business Communication, Data Structures, Data Visualization Software, Tableau Software, Big Data, Cloud Computing, Collaboration, Conflict Management, Critical Thinking, Customer Analysis, General Statistics, Leadership and Management, Plot (Graphics), Probability & Statistics, Small Data, Algorithms, Application Development, Budget Management, Computational Logic, Computer Architecture, Computer Networking, Computer Programming, Computer Programming Tools, Cryptography, Data Mining, Data Model, Database Administration, Database Design, Databases, Decision Making, Design and Product, Distributed Computing Architecture, Entrepreneurship, Extract, Transform, Load, Feature Engineering, Finance, Full-Stack Web Development, Interactive Data Visualization, Machine Learning, Mathematical Theory & Analysis, Mathematics, Network Security, Other Programming Languages, Problem Solving, Product Design, Programming Principles, Project Management, Research and Design, Security Engineering, Security Strategy, Software Engineering, Software Security, Storytelling, Theoretical Computer Science, Visual Design, Visualization (Computer Graphics), Web Development
Beginner · Professional Certificate · 3-6 Months
Skills you'll gain: Deep Learning, Machine Learning, Artificial Neural Networks, Python Programming, Statistical Programming, Machine Learning Algorithms, Linear Algebra, Applied Machine Learning, Statistical Machine Learning, Dimensionality Reduction, Feature Engineering, Probability & Statistics, Business Psychology, Entrepreneurship, Machine Learning Software, Computer Vision, Marketing, General Statistics, Natural Language Processing, Computer Programming, Leadership and Management, Project Management, Regression, Sales, Strategy, Strategy and Operations, Tensorflow, Differential Equations, Mathematics, Applied Mathematics, Decision Making, Supply Chain Systems, Supply Chain and Logistics, Advertising, Communication, Estimation, Forecasting, Mathematical Theory & Analysis, Statistical Visualization, Algorithms, Theoretical Computer Science, Bayesian Statistics, Calculus, Probability Distribution, Statistical Tests, Big Data, Computer Architecture, Computer Networking, Data Management, Human Computer Interaction, Network Architecture, User Experience, Algebra, Computational Logic, Computer Graphic Techniques, Computer Graphics, Data Structures, Data Visualization, Hardware Design, Interactive Design, Markov Model, Network Model
Intermediate · Specialization · 3-6 Months
Decision-making skills are the ability to evaluate several courses of action and choose which to take. This is an important life skill as well as a business leadership skill, since effective problem-solving requires deciding on a solution. However, making smart business decisions isn’t just about being decisive in an abstract sense.
Effective decision-making is a skill that requires a combination of critical thinking and data analysis. In a business context, a familiarity with tools of financial analysis is especially important for decision-making, although the financial bottom line isn’t always the only factor to be considered in a careful cost-benefit analysis. For example, a growing number of companies consider corporate social responsibility principles and a “triple bottom line” approach that also looks at social and environmental costs and benefits.
Beyond cost-benefit analyses, there are approaches informed by psychology that are used to make decisions as well as describe decision-making in the real world. Decision theory uses tools similar to game theory to analyze how decisions are affected by uncertainty, different timing between decisions and impacts, social and competitive situations, and other factors. And behavioral economics helps to understand how cognitive bias can influence decision-making, as in the case of the sunk cost fallacy which results in economically irrational decisions based on previous investments.
Decision-making skills are essential for leadership positions in every field, whether chief executive officers (CEOs) of corporations, executive directors of non-profit advocacy groups, or government roles such as mayors and governors. These leaders are responsible for setting organizational goals and policies and, ultimately, making decisions on how to achieve them.
According to the Bureau of Labor Statistics, top executives earn a median pay of $104,690 per year, including a median pay of $184,460 for CEOs. This high level of compensation is a testament to the importance of savvy decision-making skills, which are in high demand in organizations of all kinds.
Absolutely. Coursera lets you learn about decision-making and related topics like problem-solving, psychology, and leadership from top-ranked schools like the University of California, Irvine, the University of Michigan, and the University of Pennsylvania. And although you’ll be learning remotely, you’ll get the same course materials as on-campus students as well as opportunities to discuss these important topics in leadership with expert faculty as well as your fellow students.
Everyone can benefit from learning about decision making, both in their personal and professional lives, so you may not need any previous experience or skills to study the concept. However, any type of work experience may help prepare you for your studies. Once you've worked in a field, you'll better understand why decision-making skills are important and how you can use them to advance your career or even get a new job in your field.
A person who is a leader and good communicator is best suited to work in roles that involve strong decision-making skills. As a matter of fact, learning how to be a good decision maker can lead to supervisory and management positions in your field. You should also be an active listener and someone who can easily convey to other people what your thoughts and ideas are. People who are strong decision makers tend to be good analyzers, troubleshooters, problem solvers, and critical thinkers. This helps them gather the evidence they need to make a choice. Other skills needed for roles that require good decision-making skills are time management, logic, reasoning, and intuition. You'll also need to have good interpersonal skills, as well as be a good collaborator who doesn't shy away from teamwork.
Decision-making studies or skills look good on any resume, so if you're looking for a new career or starting a career, learning about it may be right for you. It can also be helpful if you're looking to be promoted into a managerial position at work. Decision-making skills are very important for people in roles of leadership. If you currently work in a managerial position or any position in any field and find that you're having trouble making sound decisions at work, learning how to do so can improve your work performance. Learning it can also help you make better decisions in your personal life.