Prescriptive Analytics for Business

Catalog description

Analytics, defined as the scientific process of using data and quantitative techniques to make better decisions, has permeated virtually all aspects of business. The widespread availability of large amounts of detailed data combined with analytics methods permits an extensive examination of the tradeoffs that inform business decision making, with the ultimate goal of choosing "best" courses of action. This course explores the use of prescriptive analytics methods in a variety of business contexts. In the early part of the course, the focus is on the tools and methods of prescriptive analytics. As the course progresses, the emphasis shifts to the effective integration and implementation of prescriptive analytics in supply-side decision making processes such as supply chain management, service management, operations, logistics and transportation. The applications areas within business will reflect the interests of the instructors and will evolve as new areas of theory and practice develop.