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Optimization and Modeling Simultaneous Decisions

Credential Earned: 

Course Focus

In business, we don’t often have the luxury of making one decision at a time; instead, we usually face multiple decisions at once, in highly complex situations where each decision has potentially far-reaching impacts. In this environment, professionals need a robust, quantifiable understanding of these ripple effects in order to meet business objectives and raise the odds of decision-making success. In this course, you will create and use data models for optimizing decision making in situations where resources are constrained—and two or more decisions whose consequences interact must be made simultaneously.

Who Should Take this Course?

This course is appropriate for anyone from analyst to SVP-level who is looking for a deeper understanding of how to perform the statistical analyses that support key business decisions. Course content draws on examples across all business types.

Topics Include

  • Creating an optimization model

  • Solving a linear model in Excel using the Solver add-in

  • Making tactical decisions using shadow prices

  • Setting prices in a non-linear model

  • Approximating an optimal solution for a non-linear model

  • Using summary statistics to approximate optimal results for a stochastic problem


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