Introduction to Business Analytics Using Simulation

Introduction to Business Analytics Using Simulation employs an innovative strategy to teach business analytics. It 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 the uncertainty and variability of business, this comprehensive book provides a better foundation for business analytics than standard introductory business analytics books. Students will gain a better understanding of fundamental statistical concepts that are essential to marketing research, Six-Sigma, financial analysis, and business analytics.

"This book provides a novel, intuitive approach to teaching uncertainty and simulation modeling that should appeal to a wide variety of management science, analytics, and statistics professors."—Wayne L. Winston, University of Indiana

"Business analytics are and will remain essential in every industry sector. To understand basic concepts and solve complex problems are skills necessary for any economist and engineer, among others. Introduction to Business Analytics using Simulation is the perfect textbook for learning these skills."—Fausto Pedro Garcia Marquez, Universidad de Castilla-La Mancha