Decision Sciences
In God we trust; all others must bring Data – Edwards Deming
In today's complex and competitive world, sound decision-making is the cornerstone of success across various domains such as business, healthcare, finance, and more. Decision Sciences is a dynamic and multidisciplinary area that leverages quantitative techniques and data analysis to enhance decision-making processes. It plays a pivotal role in various sectors and helps managers make informed choices that lead to improved efficiency, enhanced profitability, and better strategic planning, ultimately contributing to the overall success of an organization. In the era of artificial intelligence and data science, many firms have adopted a wide range of quantitative techniques, operations research, statistics, and analytical methods to analyze and optimize complex business processes and outcomes. The Decision Sciences area is closely tied to the field of business analytics and big data to uncover hidden trends, correlations, and anomalies within these massive datasets.
The faculty members are working in the areas of applied statistics, stochastic models, operations research, data science, game theoretic approach in supply chains, green supply chains, supply chain management, inventory control, mathematical modeling, credit risk, and credit policies, machine learning and deep learning models and published research papers in reputed national/international journals.
The courses offered by the Decision Sciences area equip participants with the tools and methodologies needed to make decisions more efficiently and effectively. The faculty members are always keen on updating the pedagogy aligned with best practices and industry requirements. The Decision Sciences area offers a wide range of core courses such as Data Visualization, Quantitative Analysis for Management – I, II and III in the first year across the MBA (General), MBA (Tourism Management), and Ph.D. Programs. The elective courses such as Data Analytics with R, Business Forecasting and Analytics, Optimization for Managerial Decision Making, Advanced Analytics – I and II, and Multivariate Statistics for Managerial Decision Making are designed to meet the needs of the wider audience. The courses empower leaders to navigate uncertainty, adapt to changing circumstances, and achieve efficient outcomes, ultimately driving organizational growth and innovation while minimizing costly errors.
The area is gearing up to hold short-term and long-term programs for the executives and is ready to collaborate on research projects with various organizations. The Decision Sciences area serve as a foundational discipline that bridges the gap between theory and practical application, helping students and professionals alike navigate the complexities of the business world.