Analytics is one of a number of terms which are used to describe a data-driven more scientific approach to management. Ability in analytics is an essential management skill: knowledge of data and analytics helps the manager to analyze decision situations, prevent problem situations from arising, identify new opportunities, and often enables many millions of dollars to be added to the bottom line for the organization.
The objective of this book is to introduce analytics from the perspective of the general manager of a corporation. Rather than examine the details or attempt an encyclopaedic review of the field, this text emphasizes the strategic role that analytics is playing in globally competitive corporations today.
The chapters of this book are organized in two main parts. The first part introduces a problem area and presents some basic analytical concepts that have been successfully used to address the problem area. The objective of this material is to provide the student, the manager of the future, with a general understanding of the tools and techniques used by the analyst.
'Finding a book that can serve as both a functional textbook and a guide for the business practitioner is challenging. In the introduction to Analytics for Managers With Excel, the authors state that their objective is to provide material for the manager of the future. They have succeeded in this goal by writing a good textbook for teaching how Excel can aid in pulling together and using analytic data.'
-Graham K. Rand, Department of Management Science, Management School, Lancaster University
Introduction: Analytics 1. An Introduction to Management Analytics 2. Models and Model Building 3. Analyzing Sequential Decisions 4. Data Driven Decision Making 5. Predictive Modelling 6. Simulating the Future 7. Simultaneous Decision Problems 8. Revenue Management 9. Creating Competitive Advantage Using Analytics