Stochastic Processes Course
This course equips learners with essential skills in modeling and analyzing stochastic processes, including Markov chains and Poisson processes, for applications in queues, risk assessment, and environmental modeling. Participants will gain hands-on experience in simulation, parameter estimation, and communicating results effectively.

from 4 to 360h flexible workload
valid certificate in your country
What will I learn?
This Stochastic Processes Course provides practical tools to construct and examine Markov chain and Poisson process models for queues, rating changes, and environmental extremes. You will learn to design state spaces, adjust parameters using data, calculate stationary distributions, conduct simulations, verify numerical stability, measure uncertainty, and deliver clear, reliable results to decision-makers in a straightforward, effective manner.
Elevify advantages
Develop skills
- Model Markov chains: construct DTMC and CTMC models for actual service and rating systems.
- Compute stationary laws: solve πP=π and πQ=0 for congestion and long-term risk.
- Apply Poisson processes: estimate λ and forecast extreme-event frequencies and waiting times.
- Run stochastic simulations: implement DTMC/CTMC and Poisson simulation for validation.
- Communicate model results: present risks, queues, and scenarios to nontechnical teams.
Suggested summary
Before starting, you can change the chapters and the workload. Choose which chapter to start with. Add or remove chapters. Increase or decrease the course workload.What our students say
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