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Course Description

By utilizing data, machine learning, and various regression models, predictive analytics helps companies forecast demand, evaluate the effect of pricing strategies, anticipate customer purchasing decisions, and the like. In essence — and as the name suggests — predictive analytics helps organizations predict future outcomes.

Prescriptive analytics then goes one step further by using these predictive models along with decision rules and desired objective functions to make the best possible dynamic, automated decisions. Some examples include personalized advertising, online recommendation systems, surge pricing, promotional decisions, and stocking and fulfillment choices.

In this course, you will examine the foundational elements of prescriptive analytics, including how to use forecasts as input to build models for dynamic and automated decision making. You will then further analyze these concepts to ensure that these decisions align with and contribute positively to business goals and performance objectives.

The following courses are required to be completed before taking this course:

  • Designing Digital and Data-Driven Business Operations
  • Exploring the Fundamentals of Forecasting Demand
  • Designing Experiments in Retail and Online Businesses

Faculty Author

Vishal Gaur

Benefits to the Learner

  • Optimize capacity investment to match supply with demand
  • Optimize prices to match supply with demand

Target Audience

  • Managers, leaders, and executives
  • Business analysts
  • Digital transformation managers
  • Consultants
  • Entrepreneurs

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
Jul 24, 2024 to Aug 06, 2024
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION:

  • Please note that the content in our Digital Business Operations course curriculum was developed to be completed in sequential order as course concepts build throughout the program. With this in mind, please be sure you are scheduled to complete or have completed JCB511: Designing Digital and Data-Driven Business Operations prior to JCB512: Exploring the Fundamentals of Forecasting Demand, and JCB512: Exploring the Fundamentals of Forecasting Demand prior to JCB513: Designing Experiments in Retail and Online Businesses, etc.
  • Experience using Excel to build formulas, plot data, and manipulate data along with previous coursework in algebra or calculus is needed to successfully complete this certificate.
Type
2 week
Dates
Oct 16, 2024 to Oct 29, 2024
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $0.00
Section Notes

IMPORTANT COURSE INFORMATION:

  • Please note that the content in our Digital Business Operations course curriculum was developed to be completed in sequential order as course concepts build throughout the program. With this in mind, please be sure you are scheduled to complete or have completed JCB511: Designing Digital and Data-Driven Business Operations prior to JCB512: Exploring the Fundamentals of Forecasting Demand, and JCB512: Exploring the Fundamentals of Forecasting Demand prior to JCB513: Designing Experiments in Retail and Online Businesses, etc.
  • Experience using Excel to build formulas, plot data, and manipulate data along with previous coursework in algebra or calculus is needed to successfully complete this certificate.
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