Business Analytics and Optimization

Business Analytics and Optimization - Effective Decision Making Using Spreadsheets
Optimization is a critical technique in business decision making across domains. Participants in this course will be first introduced to the development of an optimization mindset as a competitive advantage. Participants will then work through hands-on optimization exercises using Excel (mainly) and R, building optimization models across domains. Participant will learn to maximize, minimize and find optimal values in linear and non-linear models. Participant will also gain an overview of the mathematical technology and algorithms that drive optimization models.  

Module Details

March 2017

Gbfi Trading Floor, Cotsakos College of Business, WPU
1600 Valley Rd, Wayne, NJ 07470

Full Agenda

TIME Trading Floor
7:30 AM Welcome and participant introductions
8:00 AM -10:00 AM Developing an analytics insights based decision mindset – setting goals, relevance of quantitative optimization to managerial decision making.
Exercise: Construct linear optimization models
10:00 AM Coffee Break
10:15 AM – 12:00 PM Optimization using network and flow models –  Analyze workflow scenarios, identify key variables, build a network / flow optimization model and automated decision models.
Exercise: Construct an intermediate level network maximization model
12:00-1:00 PM Lunch
1:00 PM – 2:45 PM Optimization using non-linear models –  Introduction to non-linear programming, separable programming, utility value and non-linear optimization models.
Exercise: Construct an advanced level portfolio optimization model.
2:45 PM Break
3:15 PM – 4:30 PM Final Session
Application of business analytics – The instructor will help participants to work together in teams to connect their own work environments to the topics covered. Each participant will use a PABAP customized template to explore how optimization techniques could be used to achieve their business /professional goals. Instructor will provide active guidance and feedback to help apply the concepts covered so that each participant can complete the day’s work with the development of a relevant model.
4.30 PM Conclusion

Instructor Bio

Dr. Jim Samuel is an experienced global information management and analytics professional, optimization expert, researcher and speaker. He has trained executives at global Fortune 500 corporations and has served as faculty at graduate programs across business schools for over a decade. He has worked with leading financial institutions and has served as a global business strategist for projects across Asia, Europe and the Americas. Jim also consults in a CIO capacity at Axivest Financial Inc. and is an advisor to senior executives and board members of multiple companies. He is one of the key WP faculty members teaching business analytics, spreadsheet modeling, optimization and R software at the Cotsakos College of Business’s Global Business & Finance Institute.