BANA 6670 - Prescriptive Analytics with Optimization

Optimization is a key part of Business Analytics dealing with decision problems that lend themselves to modelling and analysis designed to determined optimal decisions. In this course, we’ll study methodologies for determining the best course of action in situations with a large number of alternatives, each with their own financial or other characteristics, including restrictions on our actions that must be satisfied as we search for best solutions. While the focus of the course is on modeling and solving a wide variety of optimization problems, we’ll also cover the basic mathematical underpinnings of linear programming, the most widely used form of optimization in industry and government and the foundation of many extensions into other classes of optimization. State of the art Software for solving optimization problems will be used throughout the course. Students will work in teams on a project involving optimization and some important problem. Co-Req: BANA 6610. Restriction: Restricted to graduate business majors and NDGR majors with a sub-plan of NBA within the Business School. Max hours: 3 Credits. Semester Hours: 3 to 3