Foundations of Applied Information Economics (Asynchronous Training)

Have you ever wanted to enroll in the AIE Analyst series but didn’t have the time to commit to all 7 courses or have you been intimidated by some of the more complex modeling or statistics courses offered? If so, this series, the Foundations of Applied Information Economics, is for you! The 5 courses from the larger AIE Analyst series have been hand-selected to provide a high-level overview of the fundamental concepts from the AIE Analyst series while slowly introducing more complex topics all within a shorter time period than the larger offering. 

This 5-course bundle is designed to provide a base of information for individuals looking to make use of empirically supported quantitative methods to quantify uncertainty and improve decision-making. Throughout this self-paced, asynchronous training, you will explore a high-level overview of Applied Information Economics (AIE), how to leverage AIE to make decisions under uncertainty and quantify your own uncertainty. In these courses, which are a subset of the larger AIE Analyst Series, you will learn the basics of making models in Excel as well as statistical techniques to make empirical measurements. Once you have completed the Foudations series, if you find yourself wanting to dive deeper into content from the Simulations and/or Statistical Measurement Methods courses, you can purchase the Intermediate versions of those courses separately. Contact us for details.

Introduction to AIE Academy - Duration 15 minutes

This is a free video which provides an overview of training at HDR.

How to Measure Anything: Principles of Applied Information Economics - Duration: 2 hours

This is the first review of the methods used in Applied Information Economics (AIE). AIE is a decision-making method consisting of a collection of techniques that have each been shown to measurably improve estimates or decisions. This course is geared toward executives that need a conceptual understanding of the process without getting into the details of the quantitative methods involved. This overview covers the following components.

• What the research says about decision making: We will review how published research measured the performance of different methods and concluded that certain quantitative methods outperform them all.
• How to measure anything: We reveal how to overcome a key perceived obstacle to adopting these quantitative methods...the idea that some things just can't be measured. We explain that the perception of immeasurably is always based on one or more of three reasons, all of which are based on misconceptions.
• Making a practical process: Finally, now that we have shown how quantitative methods can apply even where issues were previously thought to be immeasurable, we show how all the pieces come together. We show the steps in the AIE process, how it has been applied in many industries and surprising ways it changes your decisions.

How to Make Decisions Under Uncertainty - Duration: Approx. 2 hours

How can we make a decision when we are missing so much data and when nobody can predict the future exactly? In this course, we delve into the challenges and benefits of modeling decisions under uncertainty, how we can quantify risk tolerance and how we can compute the the value of information can guide where and how we reduce uncertainty. We find that thinking through decisions this way will change what you measure and how quantifying risks will change your decisions.

Statistical Measurement Methods with Excel: Basic - Duration: Approx. 2 hours

This course shows you can perform statistical measurements with ready-made spreadsheet templates. You will learn how to think about measurements from a "Bayesian" perspective which allow you to use new data to update your current uncertainties. The spreadsheet tools will show how useful inferences can be made random sampling even with just a little data. The methods covered will include using simple Bayesian methods to estimate the size, the mean, the median and proportions of a population even if you never get to see a tiny fraction of that population.

Creating Simulations in Excel: Basic - Duration Approx. 2 hours

What's the chance that a project will lose money or be cancelled? What's the most likely return on investment for a given investment? How likely is a particular risk or set of risks to happen - and how severe could their impacts be?

Running simulations has been shown to measurably improve estimates in uncertain decisions, but how can you run a simulation without complicated software requiring advanced training? This webinar teaches participants how to build a powerful tool - a Monte Carlo simulation that calculates thousands of scenarios - using only Microsoft Excel, with no additional training or software required. Not even coding in Visual Basic for Excel, user-defined functions or new Excel add-ons are needed. We only need native Excel using features that are already installed. Participants will learn how to use a powerful Pseudo Random Number Generator (PRNG) developed by Doug Hubbard. This is a formula that fits in a single cell in Excel and can be used to generate thousands of random values in a way that fools many of the best statistical tests of randomness.

Calibrated Probability Assessments - Duration: 3-4 hours

Calibration is one of the most powerful and proven ways to improve decision-making. In this Calibration training, participants will learn how to assess subjective probabilities in a way that can be both measured and measurably improved. Each participant will see their ability to assess probabilities improve during a series of exercises where they are required to make estimates of uncertain quantities. Between exercises, they will learn additional techniques to continuously improve each estimate. By the end of the training, participants will see that their assigned probabilities reflect real uncertainty - that is, they are right 80% of the time they are 80% confident, 90% of the time they are 90% confident, and so on. This is a skill that will stick with those who learn it for a long time and will completely change how they think about estimations and probabilistic models.

Course Access: All courses are completed at academy.hubbardresearch.com. Within 24 hours of registration each participant will receive an email with the access information to complete the self-paced online training.

Instructor Access: Once in the online course, you can post questions in the forum or ask an instructor directly via email.

Have you previously purchased any of the courses above?

Contact us for your custom pricing based on previous purchases.

Interested in purchasing multiple seats for your organization?

Contact us for group rates.