Business Analytics and Optimization with Python

Fact-Sheet

Term

Summer term

Prerequisites

Prior or parallel attendance of the module Quantitative Methods for Digital Production Management is a prerequisite for successful participation.

Language

English

Applicability

Electives modul

Course content

The decision making in digitized production systems is often supported by software implementations of optimization algorithms. The course provides an overview of
scientific programming using the example of the programming language Python and optimization algorithms known from the module Quantitative Methods for Digital Production Management. In particular, the following contents are covered:

Basic programming concepts: loops, control structures, data types.
Advanced programming concepts: Functions, use of libraries e.g. for the generation of random numbers and the solution of linear and mixed integer programs.

Learning goals

After completing the module, students will be able to understand and extend existing programs of optimization algorithms as well as program new approaches for solving business optimization problems.
The students know how functions from standard libraries can be integrated. The students are able to use sensitivity analyses to gain managerial insights regarding realistic planning problems.

Grading

Midterm exams, case studies