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Optimization for Decision Making

By Coursera on Coursera · Data Science
Price
$49

About This Course

In this data-driven world, companies are often interested in knowing what is the "best" course of action, given the data. For example, manufacturers need to decide how many units of a product to produce given the estimated demand and raw material availability? Should they make all the products in-house or buy some from a third-party to meet the demand? Prescriptive Analytics is the branch of analytics that can provide answers to these questions. It is used for prescribing data-based decisions. The most important method in the prescriptive analytics toolbox is optimization. This course will introduce students to the basic principles of linear optimization for decision-making. Using practical examples, this course teaches how to convert a problem scenario into a mathematical model that can be solved to get the best business outcome. We will learn to identify decision variables, objective function, and constraints of a problem, and use them to formulate and solve an optimization problem using Excel solver and spreadsheet.

Instructor

University of Minnesota

Frequently Asked Questions

How much does Optimization for Decision Making cost?
Optimization for Decision Making costs $49. Check the course page for current pricing and available discounts.
Who teaches Optimization for Decision Making?
Optimization for Decision Making is taught by University of Minnesota, University of Minnesota.
What skill level is Optimization for Decision Making for?
This course is designed for all levels learners.