Operations Analytics

4.6
2,270 ratings
457 reviews

Course 2 of 5 in the Business Analytics Specialization

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.
Globe

100% 在线课程

立即开始,按照自己的计划学习。
Clock

完成时间大约为11 小时

建议:4 weeks of study, 2-3 hours/week
Comment Dots

English

字幕:English, Chinese (Simplified)

您将获得的技能

Decision TreeSimulationMathematical OptimizationData Analysis
Globe

100% 在线课程

立即开始,按照自己的计划学习。
Clock

完成时间大约为11 小时

建议:4 weeks of study, 2-3 hours/week
Comment Dots

English

字幕:English, Chinese (Simplified)

Syllabus - What you will learn from this course

1

Section
Clock
3 hours to complete

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....
Reading
5 videos (Total 145 min), 1 reading, 1 quiz
Video5 videos
The Newsvendor Problem39m
Moving Averages41m
Trends, Seasonality47m
Week 1 Wrap-up, Apparel Industry14m
Reading1 readings
Excel Files, Slides and Practice Problems10m
Quiz1 practice exercises
Newsvendor and Forecasting Quiz20m

2

Section
Clock
2 hours to complete

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. ...
Reading
6 videos (Total 96 min), 1 reading, 1 quiz
Video6 videos
Optimizing with Solver31m
Network Optimization Example20m
(Optional) Week 2 Review20m
(Optional) Solver on Mac3m
(Optional) Solver in Google Sheets4m
Reading1 readings
Excel Files, Slides, and Practice Problems10m
Quiz1 practice exercises
Decisions with Low Uncertainty Quiz20m

3

Section
Clock
2 hours to complete

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....
Reading
4 videos (Total 85 min), 1 reading, 1 quiz
Video4 videos
Simulating Uncertain Outcomes in Excel24m
Interpreting and Visualizing Simulation Output31m
(Optional) Week 3 Review15m
Reading1 readings
Excel file, Slides, Practice Problems10m
Quiz1 practice exercises
Risk and Evaluation Quiz20m

4

Section
Clock
3 hours to complete

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....
Reading
6 videos (Total 133 min), 1 reading, 1 quiz
Video6 videos
Using Simulation with Decision Trees25m
Using Optimization Together with Simulation16m
Week 4 Wrap-up15m
(Optional) Session 4 Review21m
(Optional) Advanced Session on Optimization28m
Reading1 readings
Excel files, Slides, and Practice Problems10m
Quiz1 practice exercises
Decision Tree Analysis Quiz20m
4.6
Direction Signs

25%

started a new career after completing these courses
Briefcase

83%

got a tangible career benefit from this course

Top Reviews

By JHAug 12th 2016

This module is really good for those of us who need to plan strategically ahead. It helps answer a lot of questions that business leaders will grapple with as they try to look ahead in the business.

By SGFeb 21st 2016

This course was a definite improvement from the Customer Analytics course. All three instructors were on point. A special mention for you Sergei. Your portions were the most fun to explore. Thanks.

Instructors

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Senthil Veeraraghavan

Associate Professor of Operations, Information and Decisions
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Sergei Savin

Associate Professor of Operations, Information and Decisions
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Noah Gans

Anheuser-Busch Professor of Management Science, Professor of Operations, Information and Decisions

About University of Pennsylvania

The University of Pennsylvania (commonly referred to as Penn) is a private university, located in Philadelphia, Pennsylvania, United States. A member of the Ivy League, Penn is the fourth-oldest institution of higher education in the United States, and considers itself to be the first university in the United States with both undergraduate and graduate studies. ...

Frequently Asked Questions

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