Decision Modeling and Risk Analysis with Excel (Udemy.com)
Decision making using sensitivity analysis, decision tree, utility theory, Bayesian statistics, Monte Carlo simulation.
Created by: Gancheng Sun
Last updated September 2022
What you will learn
- Excel
- Uncertainty Modeling
- Decision Analysis
- Data Analysis
- Goal Seek
- VLOOKUP
- Pivot Table
- Data Analysis Toolpak
- Solver
- Sensitivity Analysis
- Tornado Chart
- Treeplan
- Decision Tree
- Value of Information
- Monte Carlo Simulation
- XLRisk
- Utility Theory
- Utility Function
- Exponential Utility Function
- Statistics
- Central Limit Theorem
- Probability Distribution
How it compares
Against the other 355 rated Udemy courses in Excel on CourseDuck:
- Rating4.3 out of 5higher than 13% of them
- Reviews3,709#80 of 356 by number of reviews
- Length6 hourslonger than 52% of them
- Last updatedSeptember 2022earlier than 59% of them
Course Description
We all have one thing in common – we don’t know what will happen tomorrow. Living together in this world full of uncertainties, some decisions are rather difficult to make:
I want to save some money for my future, but how should I allocate my investment?
I want to invest a lot in this new product, but will the market react to it well enough, to justify my investment?
I want to hire more employees, or increase my production, but what if the market demand drops?
The global pandemic has not ended, should I buy that cheap plane ticket?
This course will give you directions at these crossroads. We will use sensitivity analysis, decision tree, and Monte Carlo simulation to better understand this uncertain world, and ourselves.
Even better, we can achieve all of these in Excel, and you don’t need to be an advanced Excel user to benefit from this course. We will start from the basics, and go from zero to hero!
This course is for anyone who wants to make informed decisions, or just wants to learn more about Excel, or statistics in general. After this course, you will be well-equipped to use Excel to help you tackle real-world puzzles!
Instructor Details
- 4.3 Rating
3,709 Reviews
Gancheng Sun
Gancheng is a financial modeling professional based in New York. Gancheng has worked in the US, Germany, the Czech Republic, and China, across industries including market research, tourism, banking, real estate and energy. She has a deep passion for understanding different business models, and in creating financial models to tackle complicated business challenges. Over her career, she has helped big and small companies to improve their business processes.
Gancheng holds a master’s degree in Management Studies at Duke University, and a bachelor’s degree in Corporate Finance at HUST in China.
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Reviews
By Robert Silva on 4/28/2026
The explanations in this course are exceptionally clear and provide great value. For those who handle these computations daily, the pacing is perfect. However, for learners still mastering the fundamentals, some of the software 'clicks' and on-screen actions happen quite quickly, occasionally requiring me to rewind to catch the exact steps. Overall, I’m very happy with the content and the instructor's delivery.
By Abdulaziz Althobaiti on 9/12/2025
The course was a strong fit. It covered decision modeling, value of information, Bayes, Solver, Goal Seek, data tables, and tornado charts clearly. The labs and Excel templates were useful. I suggest adding more real-world cases and clearer quiz explanations.
By Ricardo Arturo Muñoz Pérez on 2/13/2025
¡Super recomendado! Esta mujer es increíble en su forma de explicar estos temas tan interesantes y útiles para la vida laboral. Si buscas nuevas formas de usar excel en el día a día y sobre un tema tan vital como es el riesgo y la toma de decisiones, este curso es para ti. Cada clase está llena de practicidad y conocimiento. Las actividades o retos que pone a los que hacen este curso son muy útiles para retroalimentar lo aprendido.
By Jonathan Lim on 10/13/2024
This rating is based on 2/3 completion of the course. Overall the content is really excellent. My main criticism is that some of the theory despite being quite complex is explained in a rush manner. Or perhaps a different way or explaining or more examples would help. The second criticism is that the assignments can be quite challenging unless you frequently work with probabilities and decision tables etc. It would have been more helpful if the instructure did a video going through the assignments rather than just posting an answer. I think a 4/5 is warranted based on these comments.
By Stan Hwang on 11/13/2023
Very direct and exact on different methods. Excellent descriptions. Good methods to be aware of and go through quickly, but more people will want to use PowerBI and learn that if they can now instead if the manualness in some of the things here. Helps with understanding concepts and how they build up more rather than "just appear." Course suggestions: Random numbers keep randomizing for every formula you add afterward. (Lecture 31) Quiz 6 Ques #1 solution should be “minus” not a “division” sign in part of the answer. Quiz 6 Ques #5 graphs do not show up. Lecture 33 ~3:40 Explain that 1 means True in Boolean and 0 means False in Boolean. Not everyone may know this. Lecture 39- might be worth mentioning that correlation is between -1 through 1.
By Derek E. Martin on 7/13/2023
Very knowledgeable and articulate presenter; far more detail than I had expected, providing incredible value of material within the course. My only issue with this course was with the third-party Excel 'Add-Ins'; valuable resource(s), but I had expected to see more direct utilization of Excel in this course. However, if at a later time I decide to buy the Add-Ins, I will see and experience the benefits of the add-ins demonstrated as an added value within this course -- so much great information presented, it just left me realizing that my Excel knowledge and experience is barely proficient in execution. The person who can internalize and proficiently execute all of these wonderful tips & tricks will be in a great position for many top business opportunities... I suggestion for those who may find it daunting or intimidating is to stick with it, it will be well worth the effort.
By Anoop S Raj on 2/1/2023
Topics are well organized and presented. Explanations are clear and distinct. The video view of the presenter adds a personalized classroom touch to the session which otherwise would be tricky to follow for 6hour long sessions. Live solutioning and explaining hands-on via screen share helped a lot too. Thank you so much for the session.
By Andrew Barton on 10/20/2022
Looking for a quick refresher in managerial decision modeling. Theories were somewhat addressed (although they were very quickly glossed over). The use cases and methods to construct models for decisions were not suitably covered. This makes sense given the 10-15 minute chunks allocated for each topic. It was not enough to give me a working knowledge of the topic/tool. This course uses add-in packages for excel instead of using capabilities already inherent in the software. This in itself is fine, but did not align with my expectations coming into the course. I had a hard time following the instructor's explanations, examples, and completing the assignments. She is good about getting back to people with questions. Instead of this course, I recommend you go read Managerial Decision Modeling by Balakrishnan, Render, Stair, & Munson (2017 or newer).
By Joe Sifuentes on 8/15/2022
So far so good on the course, It is a great fit for somebody like me who is looking to expand my knowledge on (further) adequate decision making, skills to grow a business, sharpen my Excel skills, and so on. The advanced functions listed are going to and have made me a stronger individual and will continue to. The course is very promising for anybody looking to expand in multiple directions all leading to the top.
By Dronesh Joshi on 6/29/2022
Hi. Gancheng Awesome!. Very much to learn as I belong to risk mgmt., the perfect course for me. If u r eager to learn about monte carlo, decision making, sensitivity analysis and some most used excel function for analysis, its the best course with straight to the topic with good examples and with do not skip the assignment part, very useful!. FGC income and Magic beans was the fav. assignment for me and monte carlo assignment, the xlrisk functions wasn't the same as Gancheng using vose software xlrisk however did understand the MCS lectures. MCS was starting section for me, did lose the stick when it was about vose software thing comes in however interest wasn't lost due to author subject delivering, little bit pace on but fully locked in, backed the videos came again. I got it what I was required, thankyou! Gancheng
Quality Score
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Overall Score : 86 / 100






