Simulation is an analytics tool that can help businesses take the right decisions in the face of uncertainty. The McKinsey Global Institute has identified simulation as one of the essential techniques for analysing big data. This course teaches students how to develop and use simulation models of real or conceptual systems using MS Excel and Analytic Solver Platform. Examples of applications can include determining optimal supply chain locations, inventory stocking policies, demand prediction, workforce allocation and scheduling, waiting lines in health care facilities and financial planning.
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