The World of Business Modeling: Tara's Webpage

Decision Science 4240/8240:Business Modeling for Decision Support

• *** 7 Step Modeling Process****
• Define the problem
• Observe system and collect data
• Formulate model
• Verify Model and use of model for prediction
• Select Suitable alternatives
• Present results of study to organization
• Implement and evaluate recommendations

****Assignments****

Personal Statement
Overview: Business Analysis and Decision Support
2.1-Breakeven Analysis at Great Threads
2.2-Estimating Sensitivity on Demand
2.3-Ordering w/Qty Discounts:Sam's Bookstore
2.4-Hedging Risk with Put options
2.5-Calculating NPV at Acron
Forecasting Project
Monte Carlo Project
Optimization Project
Final Project/Exam

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