Rshh Qam12 Ch01
1
Introduction
to
Quantitative
Analysis
To accompany
Quantitative Analysis for Management, Twelfth Edition, by Render, Stair, Hanna and Hale
Power Point slides created by Jeff Heyl
Copyright ©2015 Pearson Education, Inc.
LEARNING OBJECTIVES
After completing this chapter, students will be able to:
1. Describe the quantitative analysis approach
2. Understand the application of quantitative analysis in a real situation
3. Describe the three categories of business analytics
4. Describe the use of modeling in quantitative analysis
5. Use computers and spreadsheet models to perform quantitative analysis
6. Discuss possible problems in using quantitative analysis 7. Perform a break-even analysis
Copyright ©2015 Pearson Education, Inc.
1–2
CHAPTER OUTLINE
1.1 Introduction
1.2 What Is Quantitative Analysis?
1.3 Business Analytics
1.4 The Quantitative Analysis Approach
1.5 How to Develop a Quantitative Analysis Model
1.6 The Role of Computers and Spreadsheet Models in the Quantitative Analysis Approach
1.7 Possible Problems in the Quantitative Analysis
Approach
1.8 Implementation — Not Just the Final Step
Copyright ©2015 Pearson Education, Inc.
1–3
Introduction
• Mathematical tools have been used for thousands of years
• Quantitative analysis can be applied to a wide variety of problems
– Not enough to just know the mathematics of a technique – Must understand the specific applicability of the technique, its limitations, and assumptions
– Successful use of quantitative techniques usually results in a solution that is timely, accurate, flexible, economical, reliable, and easy to understand and use
Copyright ©2015 Pearson Education, Inc.
1–4
Examples of Quantitative
Analyses
• Taco Bell saved over $150 million using forecasting and scheduling quantitative analysis models • NBC television increased revenues by over $200 million between 1996 and 2000 by using quantitative analysis to develop better sales plans
• Continental Airlines saves over $40 million every
year
Introduction
to
Quantitative
Analysis
To accompany
Quantitative Analysis for Management, Twelfth Edition, by Render, Stair, Hanna and Hale
Power Point slides created by Jeff Heyl
Copyright ©2015 Pearson Education, Inc.
LEARNING OBJECTIVES
After completing this chapter, students will be able to:
1. Describe the quantitative analysis approach
2. Understand the application of quantitative analysis in a real situation
3. Describe the three categories of business analytics
4. Describe the use of modeling in quantitative analysis
5. Use computers and spreadsheet models to perform quantitative analysis
6. Discuss possible problems in using quantitative analysis 7. Perform a break-even analysis
Copyright ©2015 Pearson Education, Inc.
1–2
CHAPTER OUTLINE
1.1 Introduction
1.2 What Is Quantitative Analysis?
1.3 Business Analytics
1.4 The Quantitative Analysis Approach
1.5 How to Develop a Quantitative Analysis Model
1.6 The Role of Computers and Spreadsheet Models in the Quantitative Analysis Approach
1.7 Possible Problems in the Quantitative Analysis
Approach
1.8 Implementation — Not Just the Final Step
Copyright ©2015 Pearson Education, Inc.
1–3
Introduction
• Mathematical tools have been used for thousands of years
• Quantitative analysis can be applied to a wide variety of problems
– Not enough to just know the mathematics of a technique – Must understand the specific applicability of the technique, its limitations, and assumptions
– Successful use of quantitative techniques usually results in a solution that is timely, accurate, flexible, economical, reliable, and easy to understand and use
Copyright ©2015 Pearson Education, Inc.
1–4
Examples of Quantitative
Analyses
• Taco Bell saved over $150 million using forecasting and scheduling quantitative analysis models • NBC television increased revenues by over $200 million between 1996 and 2000 by using quantitative analysis to develop better sales plans
• Continental Airlines saves over $40 million every
year