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The first practical, managerial guide to decision modeling and analytics
Master decision modeling and analytics through realistic examples, intuitive explanations, and tested Excel templates. Business Analytics with Management Science has been designed to help students, practitioners and managers use business analytics to improve decision-making systems. Unlike previous books, it emphasizes the application of practical management science techniques in business analytics.
Drawing on 20+ years of teaching and consulting experience, Dr. Arben Asllani introduces decision analytics through realistic examples and intuitive explanations – not complex formulae and theoretical definitions. Throughout, Asllani helps practitioners focus more on the crucial input-output aspects of decision making – and less upon internal model complexities that can usually be "delegated" to software.
Please download the files associated with Business Analytics with Management Science Models and Methods here.
Business Analytics with Management Science
Download the sample pages (includes Chapter 1 and Index)
Preface xii
Chapter 1 Business Analytics with Management Science 1
Chapter Objectives 1
Prescriptive Analytics in Action: Success Stories 1
Introduction 3
Implementing Business Analytics 4
Business Analytics Domain 5
Challenges with Business Analytics 9
Exploring Big Data with Prescriptive Analytics 14
Wrap Up 16
Review Questions 17
Practice Problems 19
Chapter 2 Introduction to Linear Programming 23
Chapter Objectives 23
Prescriptive Analytics in Action: Chevron Optimizes Processing of Crude Oil 23
Introduction 24
LP Formulation 26
Solving LP Models: A Graphical Approach 35
Possible Outcome Solutions to LP Model 43
Exploring Big Data with LP Models 53
Wrap Up 55
Review Questions 56
Practice Problems 58
Chapter 3 Business Analytics with Linear Programming 65
Chapter Objectives 65
Prescriptive Analytics in Action: Nu-kote Minimizes Shipment Cost 66
Introduction 66
General Formulation of LP Models 68
Formulating a Large LP Model 68
Solving Linear Programming Models with Excel 77
Big Optimizations with Big Data 86
Wrap Up 87
Review Questions 88
Practice Problems 89
Chapter 4 Business Analytics with Nonlinear Programming 95
Chapter Objectives 95
Prescriptive Analytics in Action: Netherlands Increases Protection from Flooding 95
Introduction 96
Challenges to NLP Models 97
Example 1: World Class Furniture 101
Example 2: Optimizing an Investment Portfolio 110
Exploring Big Data with Nonlinear Programming 117
Wrap Up 118
Review Questions 120
Practice Problems 121
Chapter 5 Business Analytics with Goal Programming 127
Chapter Objectives 127
Prescriptive Analytics in Action: Airbus Uses Multi-Objective Optimization Models 128
Introduction 129
GP Formulation 130
Example 1: Rolls Bakery Revisited 130
Solving GP Models with Solver 139
Example 2: World Class Furniture 142
Exploring Big Data with Goal Programming 150