In the data-driven business landscape, making optimal decisions is crucial. The "Optimization for Decision Making" course equips learners with the essential skills of prescriptive analytics, focusing on the method of optimization. Through practical examples and Excel solver utilization, participants will master the art of transforming problem scenarios into mathematical models to drive the best business outcomes.
The course consists of four comprehensive modules:
Upon completion, learners will possess the capability to identify decision variables, objective functions, and constraints of a problem and utilize them to formulate and solve optimization problems. This course is ideal for professionals seeking to enhance their decision-making capabilities in a data-driven environment.
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This course comprises four modules that delve into the principles of linear optimization, covering topics such as introduction to linear programming, solving linear programs, alternative specifications & special cases, and modeling & solving linear problems in Excel.
The "Introduction to Linear Programming" module provides an overview of linear programming, demonstrating how to approach decision-making modeling. Through practical examples and exercises, learners gain proficiency in identifying and formulating optimization problems.
In the "Solving Linear Programs" module, participants delve into the practical application of solving linear optimization problems. By dissecting real-world examples and conducting graded exercises, learners develop a comprehensive understanding of implementing solutions for diverse scenarios.
The "Alternative Specifications & Special Cases in Linear Optimization" module delves into the intricacies of handling specific cases and changes to model parameters. Learners explore scenarios with multiple optimal solutions, redundant constraints, unbounded solutions, and infeasible solutions, enhancing their problem-solving capabilities.
The "Modeling & Solving Linear Problems in Excel" module equips participants with the practical skills of utilizing spreadsheet solvers and Excel for modeling and solving linear problems. Through step-by-step examples and case exercises, learners develop proficiency in implementing linear programming models in Excel for optimal solutions.
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