What will you in Operations Analytics Course
-
Understand how to model future demand uncertainties and predict outcomes of competing policy choices.
-
Develop optimization models to identify the best decisions in settings with low uncertainty.
-
Apply simulation models to evaluate complex business decisions in uncertain settings.
-
Utilize decision trees to evaluate decisions made under uncertainty.
-
Gain insights into real-world business challenges and learn methods to tackle these challenges quantitatively.
Program Overview
1. Introduction, Descriptive and Predictive Analytics
⏱ Duration: 1 week
-
Introduction to the Newsvendor problem, a fundamental operations problem of matching supply with demand in uncertain settings.
-
Foundations of descriptive analytics for operations.
-
Use of historical demand data to build forecasts for future demand.
-
Introduction to underlying analytic concepts, such as random variables, descriptive statistics, common forecasting tools, and measures for judging the quality of forecasts.
2. Prescriptive Analytics, Low Uncertainty
⏱ Duration: 1 week
-
Building optimization models and applying them to specific business challenges.
-
Use of algebraic formulations to express optimization problems.
-
Conversion of algebraic models into spreadsheet formats.
-
Utilization of spreadsheet Solvers as tools for identifying the best course of action.
3. Predictive Analytics, Risk
⏱ Duration: 1 week
-
Building and interpreting simulation models to evaluate complex business decisions in uncertain settings.
-
Introduction to common measures of risk and reward.
-
Use of simulation to estimate quantities and interpretation of simulation results.
4. Prescriptive Analytics, High Uncertainty
⏱ Duration: 1 week
-
Introduction to decision trees for evaluating decisions made under uncertainty.
-
Integration of optimization, simulation, and decision trees to solve complex business problems with high degrees of uncertainty.
-
Application of the Newsvendor problem using simulation and optimization frameworks.
Get certificate
Job Outlook
-
High demand for operations analytics skills across various industries.
-
Professionals with these skills are more likely to be promoted and take on leadership roles.
-
Beneficial for entrepreneurs managing diverse responsibilities.
-
Freelancers and remote workers can improve workflow and output consistency
Explore More Learning Paths
Enhance your operational decision-making and analytical skills with these curated programs designed to optimize processes, drive efficiency, and support data-driven management.
Related Courses
-
Salesforce Sales Operations Professional Certificate Course – Learn how to leverage Salesforce tools and analytics to streamline sales operations and improve performance.
-
Electric Industry Operations and Markets Course – Gain insights into operational strategies, market dynamics, and efficiency practices within the electric industry.
-
Leading Human Resource Management and Leadership Specialization Course – Build leadership and management skills to drive operational excellence and manage high-performing teams.
Related Reading
Deepen your understanding of how analytics informs operational success:
-
What Is Operations Management? – Explore the principles and practices that improve efficiency, quality, and overall organizational performance.
