Business Analytics: Data Analysis & Decision Making 6th Edition

S. Christian Albright | Wayne L. Winston

  • Copyright 2017
  • Published
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Help students master data analysis, modeling, and spreadsheet use with BUSINESS ANALYTICS: DATA ANALYSIS AND DECISION MAKING. This popular quantitative methods resource delivers the tools to succeed with its proven teach-by-example approach, friendly writing style, and complete Excel® 2016 integration. Compatible with Excel 2013, 2010, and 2007, the sixth edition features up-to-date problem sets and cases that show the relevance of the material. Also available: a robust array of online tools and resources, including the Palisade DecisionTools Suite and MindTap®.

Meet the Author

S. Christian Albright, Indiana University, School of Business

S. Christian Albright received his B.S. degree in mathematics from Stanford in 1968 and his Ph.D. in operations research from Stanford in 1972. Since then, he has been teaching in the Operations and Decision Technologies Department in the Kelley School of Business at Indiana University. He has taught courses in management science, computer simulation, and statistics to all levels of business students: undergraduates, MBAs, and doctoral students. His current interest is in spreadsheet modeling, including development of VBA applications in Excel®. Dr. Albright has published more than 20 articles in leading operations research journals in the area of applied probability. He has also published a number of successful textbooks, including DATA ANALYSIS AND DECISION MAKING, DATA ANALYSIS FOR MANAGERS, and SPREADSHEET MODELING AND APPLICATIONS.

Wayne L. Winston, Indiana University, Kelley School of Business (Emeritus)

Wayne L. Winston is Professor Emeritus of Decision Sciences at the Kelley School of Business at Indiana University and is now a Professor of Decision and Information Sciences at the Bauer College at the University of Houston. He has won more than 45 teaching awards, including the school-wide MBA award six times. His current interest is in showing how spreadsheet models can be used to solve business problems in all disciplines, particularly in finance, sports, and marketing. In addition to publishing more than 20 articles in leading journals, Dr. Winston has written such successful textbooks as OPERATIONS RESEARCH: APPLICATIONS AND ALGORITHMS, MATHEMATICAL PROGRAMMING: APPLICATIONS AND ALGORITHMS, SIMULATION MODELING WITH @RISK, DATA ANALYSIS FOR MANAGERS, SPREADSHEET MODELING AND APPLICATIONS, MATHLETICS, DATA ANALYSIS AND BUSINESS MODELING WITH EXCEL 2013, MARKETING ANALYTICS, and FINANCIAL MODELS USING SIMULATION AND OPTIMIZATION. He received his B.S. degree in mathematics from MIT and his Ph.D. in operations research from Yale.

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Features & Benefits

  • Highlighting Key Concepts: Critical concepts and equations are set off in boxes to make future reference easier, while margin notes and “Fundamental Insight” features emphasize the most relevant, practical information from each chapter.
  • Easy-to-Follow Step-by-Step Examples: Extremely user friendly, the text includes over 130 interesting examples that draw from real business situations or events. The solution to each example is worked out in a clear, step-by-step method that uses screenshots to make it easy for students to understand and replicate.
  • Advanced Statistical Emphasis: Providing the most comprehensive coverage available, BUSINESS ANALYTICS devotes three entire online chapters to advanced statistical analysis: Chapter 18, Importing Data into Excel, Chapter 19, Analysis of Variance and Experimental Design, and Chapter 20, Statistical Process Control.
  • Practical Technical Tips: Integrated throughout the chapters, insightful tips help students apply chapter concepts to real-world practice. These guidelines range from general technical information to application-specific tips regarding Excel®, pivot tables, StatTools, Solver, and @RISK.
  • Plenty of Conceptual Questions, Problems and Cases: BUSINESS ANALYTICS: DATA ANALYSIS & DECISION MAKING, 6E includes approximately 200 conceptual questions, 1,000 problems, and 40 cases for testing students’ mastery of the material as they progress through the course. Complete Excel®-based solutions are available for all of these conceptual questions, problems, and cases.
  • Engaging Opening Vignettes: Each chapter opens with a vignette that sets the stage for learning by illustrating why the chapter’s concepts are important in a business context.

Table of Contents

Business Analytics: Data Analysis & Decision Making


1. Introduction to Business Analytics.
2. Describing the Distribution of a Single Variable.
3. Finding Relationships among Variables.
4. Probability and Probability Distributions.
5. Normal, Binomial, Poisson, and Exponential Distributions.
6. Decision Making under Uncertainty.
7. Sampling and Sampling Distributions.
8. Confidence Interval Estimation.
9. Hypothesis Testing.
10. Regression Analysis: Estimating Relationships.
11. Regression Analysis: Statistical Inference.
12. Time Series Analysis and Forecasting.
13. Introduction to Optimization Modeling.
14. Optimization Models.
15. Introduction to Simulation Modeling.
16. Simulation Models.
17. Data Mining.
18. Importing Data into Excel.
19. Analysis of Variance and Experimental Design.
20. Statistical Process Control.
Appendix A: Statistical Reporting.
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Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.


Instructor Website

ISBN: 9781337094955
Find everything you need for your course in one place. This collection of book-specific lecture and class tools is available online via Access and download PowerPoint® presentations, images, instructor’s manual, and more.

Cengage Learning Testing, powered by Cognero Instant Access

ISBN: 9781337095389
Cengage Learning Testing, powered by Cognero®, is a flexible, online system that allows you to import, edit, and manipulate content from the text’s test bank or elsewhere, including your own favorite test questions. Create multiple test versions in an instant and deliver tests from your LMS, your classroom, or wherever you want.