Business Analytics
Project Description
• Please identify an area where application of either Optimization modeling (LP/IP/NLP), Decision modeling, or Simulation modeling can be used to solve a real-life situation. And solve it.
o +25 points for tackling a creative real-world problem which can be solved using a topic covered in the class.
More rigorous the problem solved, better you will do.
o +25points for using real data (from personal data collection, or internet) for your project.
o +25 points for successfully interpreting the results for insightful recommendation.
o +25 points for quality of your presentation slides.
• You are welcome to use additional quantitative methods you are familiar with (from the
class or outside of the class) to aid your project.
• The project should show your ability to model the real-life problem using advanced analytical method of your choice. However, you’ll learn that modeling a real-life problem can be very difficult, so please adopt reasonable simplifications in your project.
• You are responsible for finding the solution in your project – that’s the objective of this project.
o 5pt penalty per solution provide by me. For example: You: “my solver doesn’t run,” and I tell you how you can fix it, it’ll cost you 5pts.
Please Use Excel and Powerpoint.
