One of the most crucial skills for a modern manager is knowing how to use data to make decisions. In Decision Models & Analytics, you will learn how to use modern analytics tools, such as optimization and simulation, to solve complex business problems. Whether you want to pursue a career in finance, consulting, technology, operations or marketing, knowing how to model and solve complex problems will make you a more effective decision-maker and give you a competitive edge.
The course is hands-on. In class, you will learn how to model and solve the following problems, among many others:
If you own a website, how do you maximize the ad revenues you earn from it?
How do you match couples to maximize compatibility?
How do you build a portfolio of stocks that maximizes return and minimizes risk?
How do you get your products delivered to your customers in the fastest and cheapest way possible?
New Product Development
Given design risks and market uncertainty, how do you decide which products to develop?
Monte Carlo simulation
Although there are no specific pre-requisites for this class, prior knowledge of basic probability concepts (probability distributions, percentiles, expected value, standard deviation, variance and covariance) would be helpful.