Problem analysis (maximum 10 pages, Font Arial, Size 10)
Describe and analyze a (business) problem of reasonable size (minimum 20 decision variables) using the methodologies discussed in the course module. Any problem is good. It can be a simplified version of a problem you encountered in your business, or it can be a problem you invented or have seen somewhere (in a company, your free time, internet, …) It doesn’t have to be a real one, but it should be realistic, make sense, and interesting. Just be creative! You can use your own experience in the business, or you can just make up a problem yourself using your own imagination and experience. As long as the problem is clear, and challenging and amendable for modeling, it’s good!
The individual coursework consists of an assignment with 4 analyses. For each analysis, you should do the following:
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• Be concise and to the point, and include details about the assumptions and calculations, but also include summary graphs with results.
• Don’t forget to draw conclusions for each analysis (calculations and graphs without conclusions are not very useful).
• Indicate the advantages and disadvantages of each analysis from a management perspective.
• Highlight possible improvements.
The use of the Solver tool (in MS Excel) is allowed, but you can use any other software tool if you want.
The written reports will be assessed on the following aspects:
• Quality of the argument (clarity of problem descriiption, clarity of assumptions, motivation of methodology
used).
• Demonstrating how calculations have been done (clear presentation of data, easiness to follow
calculations, clarity of the model).
• Supporting arguments with data (interpretation of result, showing shortcomings, and drawing clear
conclusions).
• Presentation (presenting results in a clear manner to management).
In the next paragraph, you find a summary of what each analysis should contain, but you should use this only as a guideline. That means that you can skip some parts, and/or extend others. Beware that the written report must be targeted to a company stakeholder, so it should be (i) crystal clear, (ii) easy and attractive to read, (iii) 100% correct, and (iv) results oriented. As a decision maker, you should come up with not only a sound and correct analysis but also with an ingenious and innovative solution. Focus on the problem and the solution, not only on the model Try to be original! Remember: you are a data scientist, so originality is in your nature!
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