Prescriptive Analytics & Optimization

Wake Forest University School of Business

Wake Forest University School of Business

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Who should attend

The program is ideal for individuals and teams wishing to advance their careers and organizations. Business analysts, data analysts, financial analysts, analytics managers, program or project managers, and other analytics leaders will be comfortable with the course content, pace, and challenge.

This course assumes only prior knowledge of high-school algebra. It is not about algorithms, but instead focuses on modeling decisions problems mangers face and deriving actionable results using Open Solver in Excel.

About the course

What lies ahead, using data to make better decisions

Prescriptive analytics differs from descriptive and predictive analytics in that prescriptive models yield a course of action to follow. That is, the output from a prescriptive model is a plan for management to follow. By using optimization models and other readily available tools, we can determine the best near-term outcomes and make the best decisions for our organizations.

As we evaluate business objectives, key metrics such as profitability improvement, cost reductions, and client satisfaction can be optimized with prescriptive analytics. During this program, applications in business including production planning, location analysis, supply chain design, transportation, marketing/product design and financial portfolio analysis will be discussed. Additionally, the use and application of rule-based systems and heuristics with an emphasis on optimization modeling of real business problems will be explored and tested. We will utilize hands-on real-world case studies using open-source software (Open Solver) in Microsoft Excel, R for Optimization, and AMPL – algebraic modeling system.

Faculty have designed this program for individuals and analytics teams to gain immediate and practical skills to solve pressing business problems and challenges. We will analyze a business cases and use the tools of business analytics to immediately create value in any organization. This program will be offered virtually with all content delivered online.

This program is part three of a series of three open enrollment analyst-based programs leading to a Certificate in Analytics for Analysts. This certificate program offers a unique multi-day deep dive across the entire analytics ecosystem and culminates in a short Analytics Capstone Project. Please note: each program can be taken individually to gain critical knowledge and skills, or, combined as a certificate.

What You’ll Learn:

  • Analytics techniques in the context of real-world prescriptive applications
  • Improve your ability to view business processes and relationships systematically and analytically.
  • Techniques for using data to generate new ideas, experimenting with solutions, and evaluating alternatives
  • Optimization with Linear, Discrete and Nonlinear Models
  • Practical business applications of optimization models in operations, supply chain, marketing and finance with the free opens source software Excel add-in, Open Solver.

Experts

Jeffrey Camm

Jeffrey Camm is Associate Dean of Business Analytics and the Inmar Presidential Chair in Business Analytics at the Wake Forest University School of Business. His scholarship is on the application of optimization modeling to difficult decision problems in a diverse set of application areas includi...

Prescriptive Analytics & Optimization at Wake Forest University School of Business

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

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