Business case analysis with R : simulation tutorials to support complex business decisions / Robert D. Brown III.
Copyright date: New York : Apress, c2018Description: xviii, 282 pages, 8 unnumbered pages of plates ; 26 cmContent type:- text
- unmediated
- volume
- 9781484234945 (pbk.)
- 9781484234952 (e-book)
- 005.133 .B879 2018
| Item type | Current library | Collection | Call number | Status | Date due | Barcode | |
|---|---|---|---|---|---|---|---|
| Print Materials | Main Library Master in Business Administration | Non-fiction | 005.133 .B879 2018 (Browse shelf(Opens below)) | Available | 0121948 |
Browsing Graduate School Library shelves, Shelving location: Master in Business Administration, Collection: Non-fiction Close shelf browser (Hides shelf browser)
| 004.0684 .P424 2016 The strategic management of information systems : | 005.133 .B879 2018 Business case analysis with R : | 005.8 .W615 2019 [6thed] Management of information security / | 303.34 .St786 2018 21 for 21 : | 306 .Al464 2018 Institutional and organizational analysis : |
Includes index
"This tutorial teaches you how to use the statistical programming language R to develop a business case simulation and analysis. It presents a methodology for conducting business case analysis that minimizes decision delay by focusing stakeholders on what matters most and suggests pathways for minimizing the risk in strategic and capital allocation decisions. Business case analysis, often conducted in spreadsheets, exposes decision makers to additional risks that arise just from the use of the spreadsheet environment.
R has become one of the most widely used tools for reproducible quantitative analysis, and analysts fluent in this language are in high demand. The R language, traditionally used for statistical analysis, provides a more explicit, flexible, and extensible environment than spreadsheets for conducting business case analysis.
The main tutorial follows the case in which a chemical manufacturing company considers constructing a chemical reactor and production facility to bring a new compound to market. There are numerous uncertainties and risks involved, including the possibility that a competitor brings a similar product online. The company must determine the value of making the decision to move forward and where they might prioritize their attention to make a more informed and robust decision. While the example used is a chemical company, the analysis structure it presents can be applied to just about any business decision, from IT projects to new product development to commercial real estate. The supporting tutorials include the perspective of the founder of a professional service firm who wants to grow his business and a member of a strategic planning group in a biomedical device company who wants to know how much to budget in order to refine the quality of information about critical uncertainties that might affect the value of a chosen product development pathway.
What You’ll Learn
Set up a business case abstraction in an influence diagram to communicate the essence of the problem to other stakeholders
Model the inherent uncertainties in the problem with Monte Carlo simulation using the R language
Communicate the results graphically
Draw appropriate insights from the results
Develop creative decision strategies for thorough opportunity cost analysis
Calculate the value of information on critical uncertainties between competing decision strategies to set the budget for deeper data analysis
Construct appropriate information to satisfy the parameters for the Monte Carlo simulation when little or no empirical data are available." --Publisher's description
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Text in English
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