ECON 7750:Introduction to Business Intelligence Using Simulation

3 Class Hours 0 Laboratory Hours 3 Credit Hours
Prerequisite: ECON 8010 or ECON 7710
Simulation is the process of designing and creating computer models of existing or proposed real-world systems for the purpose of conducting numerical experiments to better understand the behavior of that system for a given set of conditions. It enables the creation of models that can represent the variability that exists in many real business systems. This course covers the theory and application of simulation modeling, with an emphasis on how simulation provides predictive and prescriptive analytics to support business decision-making. A variety of topics in simulation including event-oriented simulation, continuous simulation, and advanced topics such as experimental design and optimization, object-oriented simulation, response surface methodology, will be covered, using a major commercial simulation package such as ARENA. Software such as ARENA will be used to model complex systems in the manufacturing, service and transportation industries. Emphasis will be on the use of simulation as a tool to support business decision-making. Because ECON 7750 requires the use of spreadsheet software such as MSExcel modules, some experience with spreadsheets is required.

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