About this course: 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.
Taught by: Manuel Laguna, Professor
Leeds School of Business
| Basic Info | Course 3 of 5 in the Advanced Business Analytics Specialization |
| Commitment | 4 weeks of study, 3-4 hours per week |
| Language | English |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
- Video: Introduction to the Course
- Practice Quiz: Register for Analytic Solver Platform for Education (ASPE)
- Video: 0. What is Cluster Analysis
- Video: 1. Data Reduction and Unsupervised Learning
- Video: 2. Preparing Data and Measuring Dissimilarities
- Video: 3. Hierarchical and k-Means Clustering
- Video: 4. Cluster Analysis with Excel
- Video: 5. Cluster Analysis with XLMiner
- Discussion Prompt: Week 1 Discussion: Cluster Analysis in Nilsen Analytics Tools
- Video: 0. Risk Analysis and Monte Carlo Simulation
- Video: 1. Adding Uncertainty to a Spreadsheet Model
- Video: 2. Defining Output Variables and Analyzing the Results
- Video: 3. Using Historical Data to Model Uncertainty
- Video: 4. Models with Correlated Uncertain Variables
- Video: 5. Creating and Interpreting Charts
- Video: 6. Using Average Values versus Simulation
- Discussion Prompt: Week 2 Discussion: How Betterment Holdings Inc. Used Monte Carlo Simulation
- Video: 0. Optimization and Decision Making
- Video: 1. Formulating an Optimization Problem
- Video: 2. Developing a Spreadsheet Model
- Video: 3. Adding Optimization to a Spreadsheet Model
- Video: 4. What-if Analysis and the Sensitivity Report
- Video: 5. Evaluating Scenarios and Visualizing Results to Gain Practical Insights
- Video: 6. Digital Marketing Application of Optimization
- Discussion Prompt: Week 3 Discussion: How Amazon Uses Optimization for Its Supply Chain
- Video: 0. Advanced Models for Better Decisions
- Video: 1. Business Problems with Yes/No Decisions
- Video: 2. Formulation and Solution of Binary Optimization Problems
- Video: 3. Metaheuristic Optimization
- Video: 4. Chance Constraints and Value At Risk
- Video: 5. Simulation Optimization
- Discussion Prompt: Week 4 Discussion: How Uber Optimized Its Dispatch System
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| Audit | Purchase Course | |
|---|---|---|
| Access to course materials | Available | Available |
| Access to graded materials | Not available | Available |
| Receive a final grade | Not available | Available |
| Earn a shareable Course Certificate | Not available | Available |
Really beneficial!
The instructor is great. However, I would like to know the solutions for the exam. I sometimes pass the exam but struggle with certain questions but had no clue how to resolve it.
Just few points to make it better 1) This course uses another platform which explicity not aware of when took up course. 2) getting installation to work with is also some time challenging with book code , time boundness , Plug-in to excel, cyber security issues etc. 3) Some of the questions numbers mentioned in the quiz which are not available. Ex: week 4 , Question 10,11 and 12 will guide you through and I have only 4 questions to answer. I had observed this in some other quiz also. Overall it was good. Thank you
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I liked the way professor organized the course. Concept and example were clearly illustrated.