QM 520 BUSINESS ANALYTICS

This course in business analytics develops important skills in data analysis, modeling, and decision making under uncertainty. It is designed to train students to use valid inferences data to inform their decision. The topics covered in the course include exploratory data analysis, probability, analysis, estimation, simulation, hypothesis testing, and regression analysis. Business Analytics emphasizes application of analytical techniques through its lectures, case analysis and discussions, and computer exercises. Effort is made to translate the statistical results into language understood by non-technical audiences and similar communication is expected from students. Real-world cases of successes and failures with analytics-based business strategies are considered. This course presents topics from statistics and decision theory that can help clarify managerial problems and aid in selecting appropriate courses of action to enhance decision-making ability. The focus is on analysis, interpretation, and application of data collected for management decision making. Topics include sampling, statistical inference and hypothesis testing, analysis of variance, chi-square, correlation and regression analysis, and applications to statistical process and quality control (SPC) and industrial experimentation (DOE).

Credits

Prerequisite

Master's level students: MGT 502 (may be taken concurrently). Bachelor's level students: QM 202.

Distribution

QUANTITATIVE METHODS