Optimization Methods for Business Analytics

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9/10 stars
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FREE

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edX online courses
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Harvard University, the Massachusetts Institute of Technology, and the University of California, Berkeley, are just some of the schools that you have at your fingertips with edX. Through massive open online courses (MOOCs) from the world's best universities, you can develop your knowledge in literature, math, history, food and nutrition, and more. These online classes are taught by highly-regarded experts in the field. If you take a class on computer science through Harvard, you may be taught by David J. Malan, a senior lecturer on computer science at Harvard University for the School of Engineering and Applied Sciences. But there's not just one professor - you have access to the entire teaching staff, allowing you to receive feedback on assignments straight from the experts. Pursue a Verified Certificate to document your achievements and use your coursework for job and school applications, promotions, and more. EdX also works with top universities to conduct research, allowing them to learn more about learning. Using their findings, edX is able to provide students with the best and most effective courses, constantly enhancing the student experience.

Provider Subject Specialization
Sciences & Technology
Business & Management
22043 reviews

Course Description

Optimization is the search for the best and most effective solution. In this mathematics course, we will examine optimization through a Business Analytics lens. You will be introduced to the to the theory, algorithms, and applications of optimization. Linear and integer programming will be taught both algebraically and geometrically, and then applied to problems involving data. Students will develop an understanding of algebraic formulations, and use Julia/JuMP for computation. Theoretical components of the course are made approachable, and require no formal background in linear algebra or calculus.

The recommended audience for this course is undergraduates, as well as professionals interested in using optimization software. The content in this course has applications in logistics, marketing, project management, finance, statistics and machine learning.

Most of the course material will be covered in lecture and recitation video...

Optimization is the search for the best and most effective solution. In this mathematics course, we will examine optimization through a Business Analytics lens. You will be introduced to the to the theory, algorithms, and applications of optimization. Linear and integer programming will be taught both algebraically and geometrically, and then applied to problems involving data. Students will develop an understanding of algebraic formulations, and use Julia/JuMP for computation. Theoretical components of the course are made approachable, and require no formal background in linear algebra or calculus.

The recommended audience for this course is undergraduates, as well as professionals interested in using optimization software. The content in this course has applications in logistics, marketing, project management, finance, statistics and machine learning.

Most of the course material will be covered in lecture and recitation videos, and only an optional textbook, available at no cost, will be used.

Students interested in the material prior to deciding on course enrollment can visit the MIT Open Courseware version of 15.053 Spring 2013. The topics of the 2013 subject were optimization modeling, algorithms, and theory. As a six week subject, 15.053x covers about half of the material of the 2013 subject. The primary focus of 15.053x is optimization modeling.

Reviews 9/10 stars
11 Reviews for Optimization Methods for Business Analytics

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Mirza Ibrahimovic profile image
Mirza Ibrahimovic profile image

Mirza Ibrahimovic

8/10 starsCompleted
2 years, 6 months ago
Mediocre course by MIT standards. Not very polished and came with a fair amount of bugs and errors pointed out in the forums. My biggest complaint is they stated Julia (a programming language) was optional, which in practice is a dubious claim if you want to complete all assignments (especially the Sudoku one). On the bright side, I learned a lot about a very interesting subject. The videos and corresponding slides are clear and informative. The problem sets vary in difficulty and educational value, but overall pretty good. Definitely recommend the course and topic, and hope they improve on the feedback for next time.
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student

10/10 starsCompleted
2 years, 6 months ago
Very good course. It is a great introductory course to Linear Programming, focusing on mixed and integer programming, and with final modules on sensitivity reports and non-linear programming. It makes use of diferent tools, so you have to solve problems graphically (by hand) or with software (open-solver, julia-jump). Professor Orlin gives good and clear explanations with practical examples. The problems and questions are helpful to assimilate the concepts. It´s not an easy course, but anyone with basic algebra background can complete it rewatching some videos, reading carefully the slides, and practising with the non-graded problems. I found it very rewarding. After completing and passing the course I find myself reasonably comfortable to write and solve basic problems in a spreadsheet that I can aply to my job.
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10/10 starsTaking Now
  • 10 reviews
  • 1 completed
2 years, 6 months ago
Right after I finished week 4 and obtained more than 62% for the course (passed the passing grade), I couldn't resist upgrading to Verified Certificate. This course is too good! Not only it is relevant to my data science career, it was challenging, thought-provoking and at the same time, fun! The course was also extensible, in obtaining 62%, I was only using Google sheets (frankly I never knew it could do so much), but now I plan to redo this course with Julia. The approach to the course which balances understanding and a systematic approach to optimization problem-solving is really outstanding. There were so many other courses with only plug-and-play-and-screw-theory approach where we walked away with numbers and zero understanding. I am happy that this course emphasizes understanding before running tools. That approach is surely beneficial to learners who are serious about learning optimization.
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Julio Cesar Palacio profile image
Julio Cesar Palacio profile image

Julio Cesar Palacio

10/10 starsCompleted
2 years, 4 months ago
Excellent course. I learned a lot about optimization and Julia programming and Open solver. Very interesting and great course.
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student

10/10 starsCompleted
2 years, 6 months ago
Good quality course - content is well chosen and well-explained. I enjoyed the problems given in this course. The problems are challenging and intelligently chosen from a variety of disciplines (good quality problems in Supply Chain Planning and Transportation). All in all - a very good learning experience.
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10/10 starsTaking Now
2 years, 6 months ago
Wooohoooo! Finally got the passing mark after 4 weeks! This course was super difficult but fun! Last 2 weeks to earn 90%+ Thank you MIT. Thank you edX. Thank you Prof. James Orlin for such awesome content and teaching! P/S: I look forward to more advanced optimization courses from you.
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student

10/10 starsTaking Now
2 years, 6 months ago
I really like the variety of problem sets the instructors generously provided us. They also provided solutions in Julia and Google Sheets which are both free (a reviewer complain OpenSolver being pricey, which is likely to be a troll since it is free). Course highly exceeds expectation!
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10/10 starsTaking Now
2 years, 6 months ago
So good course for optimization learners! Course is great because it provides you with very proper understanding about formulation of optimization problems. The tools it allows is also flexible, Julia for people with programming affinity, Google sheets / Excel for people who are comfortable with spreadsheets. The course is not easy. It is rigorous but also fun. You'll feel like you've grown smarter after taking (and passing) this course.
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ABDUL BASIT profile image
ABDUL BASIT profile image

ABDUL BASIT

10/10 starsTaking Now
2 years, 7 months ago
This is a very good course an excellent one, all concepts are taught. One has to work very hard but all materials are given to the students to teach. if one puts in the effort one can learn a lot.
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Fatai -Ayokunle Olaniyi profile image
Fatai -Ayokunle Olaniyi profile image

Fatai -Ayokunle Olaniyi

10/10 starsTaking Now
2 years, 7 months ago
Great guys from MIT. Course content superb ! I indeed hope I will follow this to the end. For some of us who cant financially make it down to MIT,it is a great opportunity for us...I hope we will make use of the opportunity.
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2/10 starsDropped
2 years, 7 months ago
Caution, this course requires Microsoft Excel with an OpenSolver add-in. Very pricey. I had hoped that I could get by using one of the free spread sheet programs, but I couldn't get past the first lab assignment w/o Excel.
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