Business Analytics: Prescriptive Models (online) (5 ECTS)

Learning outcomes

You are able to use methods and techniques of mathematical programming in business application, which is: data gathering and input challenges and practical solutions, rigorous models formulation, simple to complex and example to generalization problem approach. You You know how to: understand and analyze model output, and use it to generate practical business recommendations. You accustomed with reporting and visualization techniques. The course will focus on practical applications with MS Excel. Jamk Competences: Learning to learn- You develop critical and analytical mindset that helps you to study and review existing knowledge in the light of relevant learning resources and learning methods; incentivizes you to acquire new knowledge; and develops your intellectual capabilities to seek conclusions and draw inferences in various contexts. To achieve this competence, you will: - learn to formulate relevant questions and seek information, - review relevant theoretical, and empirical literature to comprehend diverse perspectives and evaluate, and interpret arguments and counter-arguments, - understand new developments in your field of study and make informed decisions based thereon. - acquire the researcher’s mindset to problematize, explore and understand real-life phenomena especially in the academic track system. Proactive development- You develop solutions in the light of current as well as anticipated situations and challenges in business by applying knowledge, critical reasoning and analytical skills. You ensure that these solutions are feasible, relevant, creative, user-friendly, and sustainable as well as underline active cooperation amongst different actors. To achieve this competence, you will: - apply existing knowledge and utilize relevant research methods including digital technology in development projects, - interpret new evidence in the light of existing body of knowledge, make comparisons and draw inferences, - express your intellectual contribution through scientific or professional writings, - understand utility, creativity, viability, scalability, and sustainability of new solutions. IB competence: Responsible international business management- You develop your intellectual capabilities to seek conclusions and draw inferences in an international environment to become responsible manager. You develop creative and insightful solutions to solve complex business problems both in the present and the future with explicit emphasis on local and international standards of ethics, responsibility, and sustainability and implications on various stakeholders. To achieve this competence, you will: - study developments in your discipline in the international learning milieu and understand various aspects of responsible business management including global business trends and competitive landscape. - derive and interpret new evidence and compare them with the existing body of knowledge in the global context to draw useful inferences, - critically assess the implications of actions and decision of the international organizations. - understand the impact of the of the actions and decisions on the community, in general, and specific stakeholders, in particular. - understand core aspects of people management in the international business environment.

Content

Business analytics with: optimization models, linear programming, non-linear programming, integer programming, goal programming, transportation modeling, simulation. Marketing analytics with: linear programming, multiple goals.

Prerequisites

Knowledge of basic descriptive statistics

Teaching methods

100% virtual course. Distant learning. Introductory meeting, video lectures and tutorials, homework exercises and assignments.

Location and time

100% virtual, self paced course.

Learning materials and recommended literature

Video lectures and tutorials PowerPoint slides MS Excel applications Literature: Business Analytics with Management Science Models and Methods, Arben Asllani, 2015. Optimization in Operations Research: Pearson New International Edition, Ronald L. Rardin, 2014.

Alternative completion methods of implementation

No

Exam dates and retake possibilities

Exam and assignments, deadlines to be announced at the beginning of the course. Retake possible according to JAMK regulations

Student workload

135 hours (5 ECTS).

Content scheduling

Topics: Business analytics with: optimization models, linear programming, non-linear programming, integer programming, goal programming, transportation modeling, simulation. Marketing analytics with: linear programming, multiple goals.

Evaluation scale

0-5