The success of many organizations, across a variety of industries, hinges on the ability to combine available data with advanced analytical techniques to improve decision making. Airlines, hotels, and car rental companies use analytics for revenue management; financial institutions use analytics to provide investment advice to their clients; health authorities use analytics to schedule their nurses, physicians, and surgeries. Countless examples demonstrate that organizations that invest in analytics can reap significant benefits.
The term “analytics” is rather broad in its scope and spans topics such as how we obtain and store data, how we analyze data, and how we use available data to make good decisions. This module focuses on the last item: decision modeling. Students will have already been introduced to the statistical analysis of data in the Integrated Foundations, and may take BABS 500 to learn more about business statistics. BAMS 523 supposes a decision maker has already done proper analysis and research to obtain good estimates of things like demand, cost, revenue, capacity, etc., and now he or she wants to make the best decision possible with this information.
Instructor Biography - Steven Shechter
Course Outline - Class of 2018 (updated July 25, 2017)
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