Optimization for Decision Making
- Module 1: Introduction to Linear Programming
- Prescriptive analytics is a part of business analytics that is aimed at prescribing solutions to decision problems. The most important modeling technique within prescriptive analytics is optimization. In this module, we will learn how to recognize contexts where it can be applied and get introduced to the basics of linear optimization.
- Module 2: Solving Linear Programs
- In order to solve linear optimization problems (i.e., linear programs), we can use graphical methods for basic example problems. For higher dimensional problems, we will use tools like Excel Solver later in the course. The benefit of using graphical methods is that it gives us an intuition into how these problems can be solved.
- Module 3: Alternative Specifications & Special Cases in Linear Optimization
- In this module we will explore what happens when the model parameters are changed. We will also look at special cases of linear optimization problems.
- Module 4: Modeling & Solving Linear Problems in Excel
- Having learned how to formulate linear optimization problem and the graphical methods for solving them, we are now going to start solving larger problems using Excel Solver. This module provides an overview of how to set up and solve these decision problems using Excel.