Tools to Support Managerial Decision-Making

This course is officially recognised and labelled by the European Institute of Innovation and Technology (EIT). EIT Label is a quality mark awarded to programmes demonstrating outstanding innovation, educational excellence and societal impact.

The industrial sector is constantly evolving in the digitization era, and managers need to stay ahead of the curve to ensure that their production processes are efficient, cost-effective, and profitable. To do so, they require a solid understanding of production economics and business intelligence tools to support their decision-making.This learning path intended primarily for production managers, quality managers and controllers is designed to provide a comprehensive overview of key managerial tools supporting decision-making in the area of production economics. This learning path is also focused on building skills in the use of business intelligence tools, specifically Power BI, to transform production and economic data into management dashboards as decision support tools.The educational courses included in this learning path cover topics such as budgeting, costing, and investment evaluation, which are critical components of production economics. Participants will learn how to develop budgets and financial plans, track costs, and evaluate investment opportunities. This knowledge is essential for making informed decisions that impact the bottom line.

The learning path also includes modules on business intelligence tools, which are essential for analyzing and interpreting data. Participants will learn how to use Power BI to transform data into meaningful insights, create interactive reports, and build dashboards for management. These skills are critical for staying competitive in today’s data-driven business environment.In addition to the educational courses included in the learning path, participants will also have the opportunity to train their managerial decision-making competencies through an interactive business simulator called the Business Navigation Game.The Business Navigation Game provides participants with a safe environment to practice making crucial managerial decisions without facing the drastic economic consequences that would occur in real life. The simulator uses market simulations to confront participants with the realities of managing a business in a dynamic market environment.

By using the Business Navigation Game, participants will develop their skills in strategic and tactical planning, risk management, and decision-making. They will have the opportunity to apply the concepts and tools learned in the educational courses in a realistic setting and receive immediate feedback on the consequences of their decisions.Overall, the learning path provides a comprehensive and interactive approach to developing the knowledge and skills needed to excel in the industrial sector. Participants will leave the program equipped with the tools and competencies necessary to make informed decisions that support production economics and business intelligence, while also being able to practice and refine their decision-making abilities in a safe and interactive setting through the Business Navigation Game.At the end of the Learning Path, the participants can:

– apply key managerial tools such as business planning, budgeting, costing, and investment evaluation that are crucial to understanding production economics;

– use business intelligence tools like Power BI to transform data into actionable insights that drive decision-making;

– identify and explain the principles, methods and concepts learned in the courses to apply in the daily decision-making process thanks to the comprehensive interactive training using the Business Navigation Game.