Course: BANA 420. Prescriptive Analytics for Business (3)
Prerequisite: SOM 307 (Business Analytics majors must attain a grade of “C” or higher). BUS 302 and BUS 302L are prerequisites for Business majors. Prescriptive analytics uses both descriptive analytics and predictive analytics as input to models that prescribe preferred courses of action or decisions. Prescriptive analytics answers the question, what should happen? BANA 420 is a modeling course. Students will learn how to develop mathematical models in business, and especially in operations management and strategy, financial management, and marketing management, the three key functions of all business systems. The primary focus is on model building and applications. Solution procedures have a secondary role. Students also learn how to interpret the solutions and effectively communicate the results. The course will focus on understanding prescriptive models and how to implement or embed them in organizations and the decision-making process.