School of Hotel Administration

Optimization and Modeling Simultaneous Decisions

Available dates

Dec 25, 2019
Online
USD 1380
Jan 22, 2020
Online
USD 1380
Feb 12, 2020
Online
USD 1380
+16 more options

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About the course

Course Focus

In business, we don’t often have the luxury of making one decision at a time; instead, we usually face multiple decisions at once, in highly complex situations where each decision has potentially far-reaching impacts. In this environment, professionals need a robust, quantifiable understanding of these ripple effects in order to meet business objectives and raise the odds of decision-making success. In this course, you will create and use data models for optimizing decision making in situations where resources are constrained—and two or more decisions whose consequences interact must be made simultaneously.

Topics Include

  • Creating an optimization model
  • Solving a linear model in Excel using the Solver add-in
  • Making tactical decisions using shadow prices
  • Setting prices in a non-linear model
  • Approximating an optimal solution for a non-linear model
  • Using summary statistics to approximate optimal results for a stochastic problem

Who should attend

This course is appropriate for anyone from analyst to SVP-level who is looking for a deeper understanding of how to perform the statistical analyses that support key business decisions. Course content draws on examples across all business types.

Trust the experts

Christopher Anderson

Biography Chris Anderson is a professor at the Cornell School of Hotel Administration. Prior to his appointment in 2006, he was on faculty at the Ivey School of Business in London, Ontario, Canada. His main research focus is on revenue management (RM) and service pricing. He actively works with ...

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