Introduction to Business Analytics Using Simulation, Second Edition employs an innovative strategy to teach business analytics. The book uses simulation modeling and analysis as mechanisms to introduce and link predictive and prescriptive modeling. Because managers can't fully assess what will happen in the future, but must still make decisions, the book treats uncertainty as an essential element in decision-making. Its use of simulation gives readers a superior way of analyzing past data, understanding an uncertain future, and optimizing results to select the best decision. With its focus on uncertainty and variability, this book provides a comprehensive foundation for business analytics.
Students will gain a better understanding of fundamental statistical concepts that are essential to marketing research, Six-Sigma, financial analysis, and business analytics.
Table of Contents
1. Business Analytics is Making Decisions2. Decision Trees
3. Decision-Making and Simulation
4. Probability: Measuring Uncertainty
5. Subjective Probability Distributions
6. Empirical Probability Distributions
7. Theoretical Probability Distributions
8. Simulation Accuracy: Central Limit Theorem and Sampling
9. Simulation Fit and Significance: Chi-Square and ANOVA
10. Regression
11. Forecasting
12. Constrained Linear Optimization
