End-of the Course Project Project Title: Comprehensive Decision Modeling Analysis for a Business Sc ...

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End-of the Course Project Project Title: Comprehensive Decision Modeling Analysis for a Business Scenario Objective: Students will apply the decision modeling techniques learned throughout the course to analyze a real-world business scenario, develop appropriate models and provide actionable insights. Project Requirements: Select a business scenario (A few suggestions that students can choose from allowing them to apply decision modeling techniques in various contexts Retail Company Facing Inventory Challenges: Evaluate item stockage amounts, requirements for products with customers & establishing the best methods for the holding of merchandises to decrease costs associated with these inventories. Transportation Company Optimizing Routes: A second problem consists in creating a model for reducing transportation cost and delivery time with a set of delivery vehicles. Manufacturing Firm Reducing Production Costs: Studying production activities to evaluate for productiveness and offer recommendations to reduce expenses to attain greater value but not endanger on quality. Hospital Managing Patient Flow: Design queuing evaluation methodology to model the patient flow in a health care facility, after having established that the dimensions of service presentation have a bearing on the time patients spend in the hospital. E-commerce Business Enhancing Customer Experience: Decision trees can be employed in the analysis of the effectiveness of various marketing approaches and results in customer acquisition as well as in their retention. Airline Company Managing Flight Schedules: To decrease the delay hour while increasing the overall number of passengers and thus the overall revenue, a schedule with the flight frequency that will match passenger demand should be developed. Food Delivery Service Optimizing Delivery Times: Construct a simulation model on the different delivery approaches, its fulfillment of the customer expectations, and how efficient it is in attaining its goals. Telecommunications Company Reducing Churn Rate: Recommend how a firm can increase customer retention through use of predictive analytics to establish MBB Customer Churn Dimensions. Real Estate Firm Evaluating Investment Opportunities: Analyze the potential real estates to invest in using risky assessment models and behave according to the trends and opportunities on hand. Energy Company Managing Resource Allocation: Develop a linear programming model so as to determine the right distribution of resources in the production of energy taking into account the environmental laws and the cost factor.) Conduct a thorough analysis using at least three different decision modeling techniques covered in the course (e.g., linear programming, decision trees, computer simulation, Time-Series Forecasting, What-If Analysis, etc.). Present the findings in a structured report that includes: - Introduction to the business scenario - Description of the decision modeling techniques used - Analysis of the results obtained from each model - Recommendations based on the analysis - Conclusion summarizing the insights gained Evaluation Criteria: - Clarity and relevance of the business scenario (10%) - Appropriateness and application of decision modeling techniques (30%) - Depth of analysis and insights derived (30%) - Quality of recommendations and conclusions (20%) Overall presentation and structure of the report (10%) Suggested Solution Framework: Introduction: Brief overview of the selected business scenario and its challenges. Modeling Techniques: - Linear Programming: Formulate a model to optimize inventory levels. - Decision Trees: Create a decision tree to evaluate potential investment options. - Computer Simulation: Simulate different scenarios to assess the impact of changes in demand. Analysis of Results: Discuss the outcomes of each model, including any trade-offs and implications for decision-making. Recommendations: Provide clear, actionable recommendations based on the analysis. Conclusion: Summarize the key insights and their relevance to the business scenario.