Business Decision Models

Catalog description

This is a first course in prescriptive analytics for aiding decision making in management. Primary emphasis is upon development of the concepts and criteria used in making decisions and the use of the model-building approach. Students will learn various modeling techniques such as optimization, decision-making under risk and uncertainty, and computer simulation, including their structure, solution characteristics, applicability, and limitations. Examples will be drawn from a wide variety of business decisions including strategy, operations, marketing, finance, and government policy. The material is approached from a managerial rather than technical perspective, with a focus on the application of decision analytics, and the interpretation of model outcomes for guiding management action. Spreadsheet model building is emphasized throughout the course.