This course is part of the Advanced Business Analytics Specialization

4.6
stars
1,758 ratings

Manuel Laguna

80,128 already enrolled

Offered By

Advanced Business Analytics SpecializationUniversity of Colorado Boulder

About this Course

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In this course you will learn how to create models for decision making. We will start with cluster analysis, a technique for data reduction that is very useful in market segmentation. You will then learn the basics of Monte Carlo simulation that will help you model the uncertainty that is prevalent in many business decisions. A key element of decision making is to identify the best course of action. Since businesses problems often have too many alternative solutions, you will learn how optimization can help you identify the best option. What is really exciting about this course is that you won’t need to know a computer language or advanced statistics to learn about these predictive and prescriptive analytic models. The Analytic Solver Platform and basic knowledge of Excel is all you’ll need. Learners participating in assignments will be able to get free access to the Analytic Solver Platform.

Flexible deadlines

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Shareable Certificate

Earn a Certificate upon completion

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Course 3 of 5 in the

Advanced Business Analytics Specialization

Approx. 8 hours to complete

English

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Skills you will gain

Data Analysis
Simulation
Business Analytics
Mathematical Optimization

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 3 of 5 in the

Advanced Business Analytics Specialization

Approx. 8 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.56/5 (456 Ratings)

Manuel Laguna

Professor

Leeds School of Business

90,313 Learners

4 Courses

Offered by

University of Colorado Boulder

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Syllabus - What you will learn from this course

Content Rating95%(2,763 ratings)

Week1

Week 1

2 hours to complete

Data Exploration and Reduction — Cluster Analysis

2 hours to complete

7 videos (Total 53 min), 1 reading, 2 quizzes

7 videos

Introduction to the Course3m0. What is Cluster Analysis7m1. Data Reduction and Unsupervised Learning7m2. Preparing Data and Measuring Dissimilarities8m3. Hierarchical and k-Means Clustering7m4. Cluster Analysis with Excel8m5. Cluster Analysis with XLMiner9m

1 reading

2 practice exercises

Week 1 Quiz30mWeek 1 Application Assignment - Clustering30m

Week2

Week 2

2 hours to complete

Dealing with Uncertainty and Analyzing Risk

2 hours to complete

7 videos (Total 52 min)

7 videos

0. Risk Analysis and Monte Carlo Simulation7m1. Adding Uncertainty to a Spreadsheet Model9m2. Defining Output Variables and Analyzing the Results7m3. Using Historical Data to Model Uncertainty7m4. Models with Correlated Uncertain Variables5m5. Creating and Interpreting Charts8m6. Using Average Values versus Simulation5m

2 practice exercises

Week 2 Quiz30mWeek 2 Application Assignment - Monte Carlo Simulation30m

Week3

Week 3

2 hours to complete

Identifying the Best Options — Optimization

2 hours to complete

7 videos (Total 54 min)

7 videos

0. Optimization and Decision Making5m1. Formulating an Optimization Problem7m2. Developing a Spreadsheet Model7m3. Adding Optimization to a Spreadsheet Model5m4. What-if Analysis and the Sensitivity Report9m5. Evaluating Scenarios and Visualizing Results to Gain Practical Insights9m6. Digital Marketing Application of Optimization8m

2 practice exercises

Week 3 Quiz30mWeek 3 Application Assignment - Linear Optimization45m

Week4

Week 4

2 hours to complete

Decision Analytics

At the end of this module students should be able to: 1. Given a business situation, apply an appropriate technique to identify the best solution alternatives 2. Formulate and solve models for business problems that requires yes/no decisions and logical constraints 3. Create models that mix techniques and tools such as simulation and optimizationAnalyze and interpret results to make informed decisions

2 hours to complete

6 videos (Total 39 min)

Reviews

4.6

441 reviews

5 stars
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4 stars
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3 stars
5.29%
2 stars
1.25%
1 star
0.85%

TOP REVIEWS FROM BUSINESS ANALYTICS FOR DECISION MAKING

by ARJul 10, 2020

It was really awesome course. It was fun learning about business analytics for decision making through the course. I learned how to make use omathematical functions to make successful decision.

by DAMar 8, 2018

Very interesting subject with a good instructor. I'd like to be able to cover the content in more detail, but it was a good introduction to optimization theory.

by AKJun 26, 2021

A good learning Platform and i have learned so many parameters and easy way to optimize Data with this course. Very happy to taken this course before and after.

by GDJun 27, 2020

Through this course now i m able to to understand difference in all aspects, when to use which model ,how to perform simulation and optimization using Analytic Solver Platform.

View all reviews

About the Advanced Business Analytics Specialization

The Advanced Business Analytics Specialization brings together academic professionals and experienced practitioners to share real world data analytics skills you can use to grow your business, increase profits, and create maximum value for your shareholders. Learners gain practical skills in extracting and manipulating data using SQL code, executing statistical methods for descriptive, predictive, and prescriptive analysis, and effectively interpreting and presenting analytic results.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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Business Analytics for Decision Making

About this Course

Skills you will gain