MSBA 6610 Business Forecasting and Decision Models
This course will introduce management science models that are widely used in all industries and various functional business areas, including operations, supply chain management, finance, accounting, and marketing. We will begin with the most important data preparation, analysis and prediction techniques for time series data and their practical business forecasting applications, using realistic data and business cases. The course will also discuss how expert judgement and statistical and machine learning based forecasts are used in collaboration to achieve practical business outcomes. In the Decision Models section, specific technical topics will include techniques in optimization such as linear programming, network optimization, integer linear programming, nonlinear programming. We will also cover some approaches for incorporating uncertainty into the modeling and decision evaluation process. Throughout the course, the emphasis will be on learning how to formulate business problems as quantitative or mathematical models, applying specialized software to solve the model and interpreting the results in the problem context.
Prerequisite
or Co-requisite: MSBA 6430