This course is designed to impact the way you think about transforming data into better decisions. Recent extraordinary improvements in data-collecting technologies have changed the way firms make informed and effective business decisions. The course on operations analytics, taught by three of Wharton’s leading experts, focuses on how the data can be used to profitably match supply with demand in various business settings. In this course, you will learn how to model future demand uncertainties, how to predict the outcomes of competing policy choices and how to choose the best course of action in the face of risk. The course will introduce frameworks and ideas that provide insights into a spectrum of real-world business challenges, will teach you methods and software available for tackling these challenges quantitatively as well as the issues involved in gathering the relevant data. This course is appropriate for beginners and business professionals with no prior analytics experience.
Using Simulation with Decision Trees
Skills You'll Learn
Simulation, Mathematical Optimization, Solver, Decision Tree
Reviews
Course delivery, material , work sheet is excellent , I enjoyed throughout course , I had excellent learning for optimization , decision tree, simulation which will help me in my professional career.
An exceptionally organized course with sufficient examples, it provides an in depth analysis of the concepts introduced (optimization, decision trees, forecasting, simulations) and of the tools used.
This module introduces decision trees, a useful tool for evaluating decisions made under uncertainty. Using a concrete example, you'll learn how optimization, simulation, and decision trees can be used together to solve more complex business problems with high degrees of uncertainty. You'll also discover how the Newsvendor problem introduced in Week 1 can be solved with the simulation and optimization framework introduced in Weeks 2 and 3.
Taught By
Senthil Veeraraghavan
Associate Professor of Operations, Information and Decisions
Sergei Savin
Associate Professor of Operations, Information and Decisions
Noah Gans
Anheuser-Busch Professor of Management Science, Professor of Operations, Information and Decisions
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