ECO0010 - ANALYTICS AND DECISION METHODS

Knowledge and understanding
At the end of the course the student will have acquired theoretical and practical tools for modeling and solving complex optimization problems that arise in management of companies, institutions and public administrations, with particular attention to linear, integer and multi-criteria optimization models.
Applied knowledge and understanding
At the end of the course, the student will have acquired the ability:
(1) to use mathematical modeling to formulate complex decision problems;
(2) to treat Multi-Criteria Decision Making Problems;
(3) to implement and solve optimization models and to test their results over a complete set of scenarios.
Autonomy of judgment
The student will be able to evaluate the impact of the proposed solutions in the application context
Communication skills
Students who successfully complete this course will be able to evaluate approaches to decision making and explain the strengths and weaknesses of approaches; to produce a complete report on a real case including problem description, modeling approach, solution methods, results and practical insights.
Ability to learn
At the end of the course, the student will have acquired the ability:
(1) to apply the mathematical-modeling skills acquired to improve the products and services offered by companies, institutions, and public administrations;
(2) to develop and implement mathematical optimization models identifying the quantitative and software tools suitable for dealing with them;
(3) to make decisions that account for uncertainty and an individual’s risk attitude;
(4) to create an objectives hierarchy to trade off among objectives in a multi-criteria decision problem;
(5) to analyze and interpret the results of quantitative analysis from a managerial perspective, to take decisions based on the results of the mathematical models.