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The purpose of this course is to use analytical models to recommend action by answering the question, “What should I do?” While descriptive analytics provides insight into the past, and predictive analytics looks into the future, prescriptive analytics moves beyond these approaches by recommending action. Prescriptive analytics combines insights from descriptive and predictive analytics with another layer of quantitative business modeling that suggests an action plan rather than just describing the data or predicting what might happen. Prescriptive analytics takes into account organizational constraints and focuses on finding optimal solutions to problems in the context of business decision-making. To help students focus on the fundamentals of prescriptive analytics, this course uses Microsoft Excel as the primary tool.

Through a combination of videos, lecture demos, and out-of-class exercises, you will learn how to apply quantitative spreadsheet modeling and analysis in support of problem-solving and decision-making in business. You will develop a solid understanding of introductory to intermediate quantitative modeling concepts, specifically a variety of optimization and simulation models. In the process of doing so, you will develop competence in using Microsoft Excel for quantitative modeling and analysis and be able to interpret model results in the context of the business situation and explain them in plain language.

Every Spring