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Quantitative Business Analysis - PowerPoint PPT Presentation

Quantitative Business Analysis. Course Introduction By Aziza Munir. Course Description. Focus on Data handling and presentation Analyse the need and importance of collecting data in business and methods to interpret them

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Presentation Transcript

Course Introduction

By

Aziza Munir

Course Description
• Focus on Data handling and presentation
• Analyse the need and importance of collecting data in business and methods to interpret them
• Describe, estimates, probability and forecasting environment on the basis of given information
• Presentation of numeric data and theoretical interpretations for information and business application
Course Objectives
• Data as center of generating information
• Data gathering techniques
• Mathematical and statistical interpretations
• Research techniques
• Generating useful information
Course Methodology
• Part 1

Focus on estimates, probability, discrete and continuous, probability distribution, and decision analysis

Forecasting on the basis of time series

• Part 2

Techniques, functions and steps

Data interpretation and presentation, statistically

Lecture 1

Introduction

By

Aziza Munir

Learning Objectives
• Need and developing model
• Model types
• Flow chart of transformational process
• Model solution and report generation
• Quantitative methods in practice
• summary
Why Model?

To successfully apply quantitative analysis to decision making, the analyst must work with manager or user of the results. When both the quantitative analyst and the manager agree that the problem has been adequately structured, model can be developed and work can begin.

Model development
• Models are presentations of real objects or situations and can be presented in various forms.

Eg. Scale model of an airplane is a representation of real airplane. Similarly child toy truck is a model of real truck. These are physical replicas of objects

• Iconic models
Model development and types
• Second classification includes models that are physical in form but do not have same physical appearance, as object being modeled. Such are known as Analog Models

Eg: Speedometer of an automobile, position of needle on dial, thermometer mentioning temperature

Model development and Types
• Third classification states, representation of a problem by system of symbols and mathematical relationing.
• Mathemetical Modeling

Eg: Total profit from sales of a product can be determined by multiplying profit per unit by quantity sold.

P=10x

Flow chart of process of Transforming Model Input to Output

Uncontrollable Inputs

(Environmental Factors)

Controllable Inputs (Decision Variables

Mathematical Model

Output

(Physical Result)

Report Generation
• Solution based on the quantitative analysis of a problem.
• Helps in decision making
• Report present recommended decision
• Manager lies working on report
Quantitative methods in Practice
• Linear programming
• Integer Linear programming
• Project Scheduling(PERT/CPM)

(Program Evaluation and Review Technique, Critical Path Method)

• Simulation
• Decision Analysis
• Forecasting
Summary
• Why we need QBA
• Why Model
• Types of Models
• Models in Practice