Prescriptive Analytics: Optimization

David Eccles School of Business

How long?

  • online
  • on demand

David Eccles School of Business

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Who should attend

This class is designed for anyone who wants to adopt data-driven decision-making. It can benefit business professionals who want to find key insights for their organizations and make strategic recommendations, using tools that they already have access to. It is especially useful for leaders looking to optimize key performance indicators and identify solutions to organizational issues

About the course

In this foundational, hands-on course, you will use Microsoft Excel to build spreadsheet models for any organization. These models will include key performance indicators linked to variables that are under the decision maker’s control. By identifying variables, you will be able to use software to craft solutions. We will use Excel’s Solver tool to find the solution that optimizes the key performance indicator. We will apply the techniques to applications in various functions of a business. You will walk away with the skills to use this in your company and identify solutions to organizational problems.

Analytics Overview

  • Fact-Based Decision-Making
  • Analytics Definition and Application Examples

Introduction to spreadsheet modeling and linear programming

  • Describe the Situation and Problem
  • Identify Decision Variables and Key Performance Indicators

Types of Linear Programming Problems

  • Product Mix, Blending, Covering, and Transportation
  • Shortest Path and Maximum Flow Examples

Analysis of the Red Brand Case

  • Determining Relevant Numbers
  • Application of the Blending problem
  • Brief Introduction to Sensitivity Analysis

Personal Impact

  • Learn valuable career skills and tools
  • Evaluate data independently
  • Approach difficult decisions confidently

Organizational Impact

  • Optimize processes with data-insights
  • Identify hidden risks and opportunities
  • Harness data to solve problems

Experts

Don Wardell

Dr. Don G. Wardell is Francis A. Madsen Scholar and Professor of Operations and Information Systems (OIS) at the University of Utah's David Eccles School of Business (DESB). He served for several years as the Chair of the OIS Department and before that the Management Department. He received BS an...

Prescriptive Analytics: Optimization at David Eccles School of Business

From  $350

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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.

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