Prescriptive Analytics in R

School of Hotel Administration

How long?

  • online
  • on demand

What are the topics?

School of Hotel Administration

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Read more about Business Analytics

Business Analytics courses will introduce you to a popular and diverse profession. A business analyst is a specialist in many IT fields as well as in ...

Who should attend

  • Analysts
  • Developers
  • Data scientists
  • Functional managers
  • Consultants
  • Any professional that uses data to make business decisions

About the course

Sometimes the problem you need to solve involves amounts of data or numbers of decisions that go well beyond the capabilities of spreadsheets. You can work around these limitations by replicating spreadsheet methods of simulation and optimization in the script-based programming environment in R. The use of R carries the benefits of flexibility, automation, and expanded set of tools and algorithms.

In this course, you will work through the development and implementation of Monte Carlo simulations. You’ll become familiar with the R functions most commonly used for this purpose. You’ll also translate optimization problems that have been defined outside R to a form that supports computational solutions in R. You’ll work with both linear and nonlinear solution methods.

Key Benefits

Participants who complete this course will be able to…

  • Simulate future outcomes for an index constructed from multiple sources of data
  • Make a decision based on a simulation model
  • Reduce decision uncertainty by visualizing and interpreting relative importance of a large number of independent variables
  • Obtain an optimized result in R
  • Interpret shadow prices from an R-based linear optimization
  • Interpret shadow prices from an R-based quadratic (nonlinear) optimization
  • Obtain an optimized result for a nonlinear, non-quadratic model

Experts

Christopher Anderson

Chris K 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 and service pricing. He actively works with industry, acros...

Prescriptive Analytics in R at School of Hotel Administration

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Business Analytics

What will you learn from Business Analytics courses? First of all, you will learn about the profession of a business analyst, his duties, and what such a specialist does. You will get various soft skills, such as organizing teamwork, for example, acc...

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

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