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.
Business Analytics for Decision Making
This course is part of Advanced Business Analytics Specialization
Instructor: Manuel Laguna
87,808 already enrolled
Included with 
(1,811 reviews)
What you'll learn
Describe the significance of optimization in identifying optimal solutions for complex business problems
Implement optimization techniques to identify the best possible course of action among multiple alternatives
Judge the appropriateness of optimization techniques in finding optimal solutions for practical business challenges
Skills you'll gain
Details to know
Add to your LinkedIn profile
8 assignments
See how employees at top companies are mastering in-demand skills
Build your subject-matter expertise
- Learn new concepts from industry experts
- Gain a foundational understanding of a subject or tool
- Develop job-relevant skills with hands-on projects
- Earn a shareable career certificate
Earn a career certificate
Add this credential to your LinkedIn profile, resume, or CV
Share it on social media and in your performance review
There are 4 modules in this course
What's included
7 videos1 reading2 assignments1 discussion prompt
What's included
7 videos2 assignments1 discussion prompt
At the end of this module students should be able to: 1. Develop a spreadsheet model for an optimization problem 2. Use Excel to solve optimization models 3. Interpret solutions and conduct what-if analysis
What's included
7 videos2 assignments1 discussion prompt
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
What's included
6 videos2 assignments1 discussion prompt
Instructor
Offered by
Recommended if you're interested in Data Analysis
University of Pennsylvania
Fundação Instituto de Administração
New York Institute of Finance
Why people choose Coursera for their career
Learner reviews
1,811 reviews
- 5 stars
71.04%
- 4 stars
21.62%
- 3 stars
5.18%
- 2 stars
1.32%
- 1 star
0.82%
Showing 3 of 1811
Reviewed on Nov 17, 2020
The hard part is actually having to buy the ASP :') nevertheless, i gain a very deep understanding on how i can use prescriptive analytics in everyday business. Thankyou very much !
Reviewed on Jun 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.
Reviewed on Jul 18, 2020
Learnt a lot of new things and also a very good revision of already known things. The Prof explains everything in detail with adequate examples and illustrates the same in the software.
New to Data Analysis? Start here.
Open new doors with Coursera Plus
Unlimited access to 10,000+ world-class courses, hands-on projects, and job-ready certificate programs - all included in your subscription
Advance your career with an online degree
Earn a degree from world-class universities - 100% online
Join over 3,400 global companies that choose Coursera for Business
Upskill your employees to excel in the digital economy
Frequently asked questions
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.
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.
If you subscribed, you get a 7-day free trial during which you can cancel at no penalty. After that, we don’t give refunds, but you can cancel your subscription at any time. See our full refund policy.