This course provides students with fundamental techniques of using data to make informed managerial decisions. We will focus on various ways of modelling (i.e., thinking structurally about) problems to enhance decision‐making skills. Rather than a survey of all the techniques, we stress those fundamental concepts that are most important for the practical analysis of management decisions. We will showcase how these core concepts are applied especially in machine learning. We focus on evaluating uncertainty explicitly, understanding the dynamic nature of decision‐making, using historical data and limited information effectively, simulating complex systems, and optimally allocating resources.