a425outl10 - UNIVERSITY OF ROCHESTER William E. Simon...

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UNIVERSITY OF ROCHESTER William E. Simon Graduate School of Business Administration APS 425 Professor G. William Schwert Advanced Managerial Data Analysis CS3-110L, 585-275-2470 Winter 2010 Fax: 585-461-5475 TuTh 3:10-4:30 PM email: schwert@schwert.simon.rochester.edu Secretary: Kathleen Madsen CS3-110M, 585-275-8127 email: madsenka@simon.rochester.edu The course's objective is to provide a systematic way to organize and make use of quantitative information in business decision-making. We will build on what you learned in GBA 412, extending that knowledge to include the situations frequently encountered in decision- making. Why study this material? In the short run -- factual evidence plays a key role in the Simon School curriculum. Ask any students that are further along in the program and have taken the more advanced classes in finance, marketing, operations, etc. In the longer run, for you to make effective decisions as a manager you must make sense of a variety of kinds of information. Some information will involve impressions, educated guesses, or gut feelings, which are not very quantitative. Other information will be more quantitative, such as financial statements, forecasts about the market for a new product, estimates of competitors' R&D expenditures, information on inventories, sales and orders, and so on. To make effective use of this kind of information, and managing the sheer volume of information of this kind, is a big issue. You must have an organized, logical way to think about it, which is what GBA 412 and APS 425 provide. You have to compete with other managers, some of whom have a lot of experience, others are well trained, etc. Your advantage as a Simon School graduate is that you approach business decision-making from the standpoint of getting the analysis right. When you make a decision, you ask yourself: What is the logic of the situation? What does it tell me are the relevant facts to focus on? Do I have this information, or where can I get it? What is the reliability of the information I have or can acquire? The skills you learned in GBA 412, and that will be further developed in APS 425, are an integral part of the set of tools you will come to rely on to succeed in a competitive business environment.
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APS 425 -- Advanced Managerial Data Analysis Professor G. William Schwert Winter 2010 2 Also, determining the right decision is only the beginning of a process. A sound factual basis for the decision is a major part of getting it implemented, but the effectiveness of this will be much enhanced if it is communicated well. Thus, one other facet of the class is the effective communication of your argument in favor of a decision. Therefore, in class discussions, assignments, exams, and on the project, there will be a premium for avoidance of unnecessary terminology and effective managerial-style presentation. One warning -- statistical analysis is no substitute for
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This note was uploaded on 03/03/2010 for the course APS 425 taught by Professor Schwert during the Spring '10 term at Rochester.

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a425outl10 - UNIVERSITY OF ROCHESTER William E. Simon...

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