subject

Operations Analytics

 with  Senthil Veeraraghavan, Sergei Savin and Noah Gans
This course is designed to impact the way you think about transforming data into better decisions. Recent extraordinary improvements in data-collecting technologies have changed the way firms make informed and effective business decisions. The course on operations analytics, taught by three of Wharton’s leading experts, focuses on how the data can be used to profitably match supply with demand in various business settings. In this course, you will learn how to model future demand uncertainties, how to predict the outcomes of competing policy choices and how to choose the best course of action in the face of risk. The course will introduce frameworks and ideas that provide insights into a spectrum of real-world business challenges, will teach you methods and software available for tackling these challenges quantitatively as well as the issues involved in gathering the relevant data.

This course is appropriate for beginners and business professionals with no prior analytics experience.

Syllabus

Introduction, Descriptive and Predictive Analytics
In this module you’ll be introduced to the Newsvendor problem, a fundamental operations problem of matching supply with demand in uncertain settings. You'll also cover the foundations of descriptive analytics for operations, learning how to use historical demand data to build forecasts for future demand. Over the week, you’ll be introduced to underlying analytic concepts, such as random variables, descriptive statistics, common forecasting tools, and measures for judging the quality of your forecasts.

Prescriptive Analytics, Low Uncertainty
In this module, you'll learn how to identify the best decisions in settings with low uncertainty by building optimization models and applying them to specific business challenges. During the week, you’ll use algebraic formulations to concisely express optimization problems, look at how algebraic models should be converted into a spreadsheet format, and learn how to use spreadsheet Solvers as tools for identifying the best course of action.

Predictive Analytics, Risk
How can you evaluate and compare decisions when their impact is uncertain? In this module you will learn how to build and interpret simulation models that can help you to evaluate complex business decisions in uncertain settings. During the week, you will be introduced to some common measures of risk and reward, you’ll use simulation to estimate these quantities, and you’ll learn how to interpret and visualize your simulation results.

Prescriptive Analytics, High Uncertainty
This module introduces decision trees, a useful tool for evaluating decisions made under uncertainty. Using a concrete example, you'll learn how optimization, simulation, and decision trees can be used together to solve more complex business problems with high degrees of uncertainty. You'll also discover how the Newsvendor problem introduced in Week 1 can be solved with the simulation and optimization framework introduced in Weeks 2 and 3.

5 Student
reviews
Cost Free Online Course
Provider Coursera
Language English
Certificates Paid Certificate Available
Calendar 4 weeks long
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FAQ View All
What are MOOCs?
MOOCs stand for Massive Open Online Courses. These are free online courses from universities around the world (eg. Stanford Harvard MIT) offered to anyone with an internet connection.
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To register for a course, click on "Go to Class" button on the course page. This will take you to the providers website where you can register for the course.
How do these MOOCs or free online courses work?
MOOCs are designed for an online audience, teaching primarily through short (5-20 min.) pre recorded video lectures, that you watch on weekly schedule when convenient for you.  They also have student discussion forums, homework/assignments, and online quizzes or exams.

5 reviews

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6 out of 6 people found the following review useful
a year ago
Nan Halberg completed this course, spending 4 hours a week on it and found the course difficulty to be easy.
Best course out of the specialization in terms of clear presentation, hands-on learning (in Excel), and exposure to some basic concepts. Very professional preparation and delivery of course content - I wish all MOOCs were done this well.

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11 months ago
Benny Alamsyah audited this course, spending 12 hours a week on it and found the course difficulty to be medium.
I just want to improve my knowledge and do not stop people to learning. In this Coursera I can study even only just as a reviewer.

I can learn with a good lecturer. Thank You Coursera for this review lesson.
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7 months ago
Thibaut completed this course.
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2 months ago
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Messias Uaissone completed this course.
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2 months ago
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Mark Blackmore completed this course.
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