This course is part of the Advanced Business Analytics Specialization

4.6
stars
1,754 ratings

Manuel Laguna

79,353 already enrolled

Offered By

Advanced Business Analytics SpecializationUniversity of Colorado Boulder

About this Course

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In this course you will learn how to create models for decision making. We will start with cluster analysis, a technique for data reduction that is very useful in market segmentation. You will then learn the basics of Monte Carlo simulation that will help you model the uncertainty that is prevalent in many business decisions. A key element of decision making is to identify the best course of action. Since businesses problems often have too many alternative solutions, you will learn how optimization can help you identify the best option. What is really exciting about this course is that you won’t need to know a computer language or advanced statistics to learn about these predictive and prescriptive analytic models. The Analytic Solver Platform and basic knowledge of Excel is all you’ll need. Learners participating in assignments will be able to get free access to the Analytic Solver Platform.

Flexible deadlines

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Shareable Certificate

Earn a Certificate upon completion

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Course 3 of 5 in the

Advanced Business Analytics Specialization

Approx. 9 hours to complete

English

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Skills you will gain

Data Analysis
Simulation
Business Analytics
Mathematical Optimization

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 3 of 5 in the

Advanced Business Analytics Specialization

Approx. 9 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.56/5 (454 Ratings)

Manuel Laguna

Professor

Leeds School of Business

89,411 Learners

4 Courses

Offered by

University of Colorado Boulder

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Syllabus - What you will learn from this course

Content Rating95%(2,755 ratings)

Week

Week 1

2 hours to complete

Data Exploration and Reduction — Cluster Analysis

2 hours to complete

7 videos (Total 53 min), 1 reading, 2 quizzes

7 videos

Introduction to the Course3m

0. What is Cluster Analysis7m

1. Data Reduction and Unsupervised Learning7m

2. Preparing Data and Measuring Dissimilarities8m

3. Hierarchical and k-Means Clustering7m

4. Cluster Analysis with Excel8m

5. Cluster Analysis with XLMiner9m

1 reading

2 practice exercises

Week 1 Quiz30m

Week 1 Application Assignment - Clustering30m

Week

Week 2

2 hours to complete

Dealing with Uncertainty and Analyzing Risk

2 hours to complete

7 videos (Total 52 min)

7 videos

0. Risk Analysis and Monte Carlo Simulation7m

1. Adding Uncertainty to a Spreadsheet Model9m

2. Defining Output Variables and Analyzing the Results7m

3. Using Historical Data to Model Uncertainty7m

4. Models with Correlated Uncertain Variables5m

5. Creating and Interpreting Charts8m

6. Using Average Values versus Simulation5m

2 practice exercises

Week 2 Quiz30m

Week 2 Application Assignment - Monte Carlo Simulation30m

Week

Week 3

2 hours to complete

Identifying the Best Options — Optimization

2 hours to complete

7 videos (Total 54 min)

7 videos

0. Optimization and Decision Making5m

1. Formulating an Optimization Problem7m

2. Developing a Spreadsheet Model7m

3. Adding Optimization to a Spreadsheet Model5m

4. What-if Analysis and the Sensitivity Report9m

5. Evaluating Scenarios and Visualizing Results to Gain Practical Insights9m

6. Digital Marketing Application of Optimization8m

2 practice exercises

Week 3 Quiz30m

Week 3 Application Assignment - Linear Optimization45m

Week

Week 4

2 hours to complete

Decision Analytics

At the end of this module students should be able to: 1. Given a business situation, apply an appropriate technique to identify the best solution alternatives 2. Formulate and solve models for business problems that requires yes/no decisions and logical constraints 3. Create models that mix techniques and tools such as simulation and optimizationAnalyze and interpret results to make informed decisions

2 hours to complete

6 videos (Total 39 min)

Reviews

4.6

439 reviews

5 stars
71.16%
4 stars
21.42%
3 stars
5.29%
2 stars
1.25%
1 star
0.85%

TOP REVIEWS FROM BUSINESS ANALYTICS FOR DECISION MAKING

by NHJul 11, 2017

The instructor is great. However, I would like to know the solutions for the exam. I sometimes pass the exam but struggle with certain questions but had no clue how to resolve it.

by DAMar 8, 2018

Very interesting subject with a good instructor. I'd like to be able to cover the content in more detail, but it was a good introduction to optimization theory.

by SKSep 8, 2020

Learnt how to use the analytic business solver in Excel and apply it to business problems. Learnt other models too along with practical implementations to real world problems. Thank you!

by HMMay 16, 2020

Awesome pedagogy and syllabus of the course. Learnt a lot of new concepts, practiced them and understood through a series of case study analysis and quizzes. Great.. !!

View all reviews

About the Advanced Business Analytics Specialization

The Advanced Business Analytics Specialization brings together academic professionals and experienced practitioners to share real world data analytics skills you can use to grow your business, increase profits, and create maximum value for your shareholders. Learners gain practical skills in extracting and manipulating data using SQL code, executing statistical methods for descriptive, predictive, and prescriptive analysis, and effectively interpreting and presenting analytic results.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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Business Analytics for Decision Making

About this Course

Skills you will gain