Data Analysis and Operations Management
MET AD 738
Students are exposed to the statistical and mathematical solutions to business and financial decision-making. The course deals with the basic concepts of probability theory. Data analysis focuses on descriptive and inferential statistics as they apply to gathering and organizing information. It includes modern sampling estimation, hypothesis testing, regression, and correlation analysis. The course examines concepts and applied techniques for managing the operations and projects of the service or manufacturing firm. Operations topics include areas of demand forecasting, quality determination, work flow and control techniques, cost-effective management of both long-term development programs and smaller short-term projects. The course provides an understanding of the important element of operations (service or production) the supply chain management process. Material is presented that relates to the major, and often competing, supply chain challenges concerning the simultaneous standardization and differentiation of consumer preferences for products and the continued minimization emphasis in supply chains and inventory management. The evolution of supply chains is studied, from those that focused on efficiencies and execution to those that use a more competitive, strategy-oriented approach, getting the "right" products to the consumer/marketplace at the right quality/price and quantity.