Module content

Quantitative Methods is the use of data, information technology, statistical analysis, quantitative methods, and mathematical or computer-based models to help managers gain improved insight about their business operations and make better, fact-based decisions. Quantitative Methods is a process where data is transformed into actions through analysis and insights in the context of organizational decision making and problem solving. In the course, the focus is on specific tools that are available in Microsoft Excel and include Data Analysis, Solver, PivotTable, and What-If Analysis. To provide a useful context for the use of the tools decisions that relate to Finance, Marketing, and Supply Chain Management are considered. The aim of this course is to provide a foundation in the use of these tools for managerial decision-making. The course covers two separate areas of Quantitative Methods. The first is statistical tools and the second is mathematical modeling. Both are important areas that are increasingly being utilized in business decision-making at all levels.

Module title

Quantitative Methods

Module status

Mandatory

Semester

2

ECTS

7

Number of hours:

60 [(L+E+S) = 40 + 0 + 20 ]

L= lectures; S= seminars; E= exercises;

Faculty

Module tag

09509

Literature:

Jacobs, F. Robert. Quantitative Methods (2017). Customized module packet.

Supplementary literature

Albright, S. Ch., Winston, W. (2015). Business Analytics: Data Analysis and Decision Making, 5th Edition. CENGAGE Learning.

Jacobs, F. Robert, Chase, Richard (2017). Operations and Supply Chain Management, 15th Edition. McGraw-Hill Education.