Optimization for Decision Making
$49
ENROLL NOWCourse Overview
What You'll Learn
- In this data-driven world, companies are often interested in knowing what is the "best" course of action, given the data.
- For example, manufacturers need to decide how many units of a product to produce given the estimated demand and raw material availability?
- Should they make all the products in-house or buy some from a third-party to meet the demand?
In this data-driven world, companies are often interested in knowing what is the "best" course of action, given the data. For example, manufacturers need to decide how many units of a product to produce given the estimated demand and raw material availability? Should they make all the products in-house or buy some from a third-party to meet the demand? Prescriptive Analytics is the branch of analytics that can provide answers to these questions. It is used for prescribing data-based decisions. The most important method in the prescriptive analytics toolbox is optimization. This course will introduce students to the basic principles of linear optimization for decision-making. Using practical examples, this course teaches how to convert a problem scenario into a mathematical model that can be solved to get the best business outcome. We will learn to identify decision variables, objective function, and constraints of a problem, and use them to formulate and solve an optimization problem using Excel solver and spreadsheet.
Course FAQs
Is this an accredited online course?
Accreditation for 'Optimization for Decision Making' is determined by the provider, University of Minnesota. For online college courses or degree programs, we strongly recommend you verify the accreditation status directly on the provider's website to ensure it meets your requirements.
Can this course be used for continuing education credits?
Many of the courses listed on our platform are suitable for professional continuing education. However, acceptance for credit varies by state and licensing board. Please confirm with your board and {course.provider} that this specific course qualifies.
How do I enroll in this online school program?
To enroll, click the 'ENROLL NOW' button on this page. You will be taken to the official page for 'Optimization for Decision Making' on the University of Minnesota online class platform, where you can complete your registration.
