Analytics for Business Decisions (OPIM 402)

2021 Fall
Sabanc─▒ Business School
Opera.&Info. Syst. Man.(OPIM)
3
6
Can Akkan canakkan@sabanciuniv.edu,
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English
Undergraduate
MATH306 MGMT203
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CONTENT

The primary goal of this course is to show the relevance and importance of mathematical modeling as a process of understanding and solving a large variety of complex business problems. The course is oriented toward both problem formulation and problem solving. It uses MS Excel spreadsheets to formulate and solve problems from a wide variety of business areas, such as operations management, finance, accounting, human resources, and marketing. The focus is on mathematical programming techniques of linear programming and integer programming.

OBJECTIVE

Primary objectives of this course are (1) to familiarize the students with the basic concepts, methods, and several applications of Management Science, (2) to help them develop modeling skills through spreadsheet approach, and (3) to motivate the participants to develop an appreciation for management science as a part of their future career advancement.

LEARNING OUTCOMES

  • Upon successful completion of this course, students should be able to: ? Define the basic concepts, methods, and several applications of Management Science, ? Develop modeling skills through spreadsheet approach ? Identify the importance of management science as a part of their future career advancement. ? Comprehend the most important and frequently employed concepts and methods of Management Science. ? Identify the seven-step modeling apparoach of Management Science. ? Define the linear and deterministic models of Management Science. ? Use the spreadsheet modeling approach to explain the concepts and methods of Management Science. ? Integrate the modeling process of Management Science with several functional areas such as economics, finance, accounting, manufacturing, planning, scheduling, supply chain, marketing, human resources, and operations management ? Develop an appreciation for Management Science and return to its benefits during their professional lives.

PROGRAMME OUTCOMES


1. Understand the world, their country, their society, as well as themselves and have awareness of ethical problems, social rights, values and responsibility to the self and to others.

2. Understand different disciplines from natural and social sciences to mathematics and art, and develop interdisciplinary approaches in thinking and practice.

3. Think critically, follow innovations and developments in science and technology, demonstrate personal and organizational entrepreneurship and engage in life-long learning in various subjects; have the ability to continue to educate him/herself.

4. Communicate effectively in Turkish and English by oral, written, graphical and technological means.

5. Take individual and team responsibility, function effectively and respectively as an individual and a member or a leader of a team; and have the skills to work effectively in multi-disciplinary teams.


1. Possess sufficient knowledge of mathematics, science and program-specific engineering topics; use theoretical and applied knowledge of these areas in complex engineering problems.

2. Identify, define, formulate and solve complex engineering problems; choose and apply suitable analysis and modeling methods for this purpose.

3. Develop, choose and use modern techniques and tools that are needed for analysis and solution of complex problems faced in engineering applications; possess knowledge of standards used in engineering applications; use information technologies effectively.

4. Have the ability to design a complex system, process, instrument or a product under realistic constraints and conditions, with the goal of fulfilling specified needs; apply modern design techniques for this purpose.

5. Design and conduct experiments, collect data, analyze and interpret the results to investigate complex engineering problems or program-specific research areas.

6. Possess knowledge of business practices such as project management, risk management and change management; awareness on innovation; knowledge of sustainable development.

7. Possess knowledge of impact of engineering solutions in a global, economic, environmental, health and societal context; knowledge of contemporary issues; awareness on legal outcomes of engineering solutions; knowledge of behavior according to ethical principles, understanding of professional and ethical responsibility.

8. Have the ability to write effective reports and comprehend written reports, prepare design and production reports, make effective presentations, and give and receive clear and intelligible instructions.


1. Design, implement, test, and evaluate a computer system, component, or algorithm to meet desired needs and to solve a computational problem.

2. Demonstrate knowledge of discrete mathematics and data structures.

3. Demonstrate knowledge of probability and statistics, including applications appropriate to computer science and engineering.


1. Have an understanding of economics and main functional areas of management

2. Have a basic all-around knowledge in humanities, science, mathematics, and literature

3. Have a basic knowledge of law and ethics, awareness of social and ethical responsibilities

4. Work effectively in teams and environments characterized by people of diverse educational, social and cultural backgrounds

5. Demonstrate proficiency in oral and written communications in English

6. Pursue open minded inquiry and appreciate the importance of research as an input into management practice; thus, a.know how to access, interpret and analyze data and information by using current technologies b.use the results from analyses to make informed decisions

7. Use office softwares for written communication, presentation, and data analysis

8. Demonstrate awareness that business settings present different opportunities and challenges for managers due to environmental/contextual differences that arise in economic, political, cultural, legal-regulatory domains

RECOMENDED or REQUIRED READINGS

Readings

Winston, W. L. And S. C. Albright, (2001), Practical Management Science, Duxbury, Brooks/Cole, A Division of Thomson Learning, Second Edition. 953 pages.

ORAL, M. and O. KETTANI, (1993), "The Facets of Modelling and Validation Process in Operations Research," European Journal of Operational Research, Vol.66, No.2, pp.216-234.