Prescriptive Analytics. 3 credits

Catalog description

Prescriptive analytics is a fundamental element of business analytics; it builds on descriptions of the present and predictions about the future to determine the best possible course of action. At the core of prescriptive analytics is the idea of analytical modeling and optimization. Analytical modeling entails the identification of the most important factors that contribute to a managerial problem and their incorporation in a mathematical model. Drawing on a variety of optimization methods, decision-makers can use such models to determine optimal strategies and delineate contingencies that can help them manage uncertainty. In addition, ''what if'' analyses will be used to determine the sensitivity of model solutions to uncertainties in data inputs. The models discussed will be drawn from all business disciplines, and address problems in the government, profit, or not-for-profit sectors. Students will utilize data on these problems to develop models and explore solutions. Offered by Costello College of Business . May not be repeated for credit.