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OPIM 5894 Analytical Consulting for Financial Services

Fall 2014 Hartford (Flex Schedule)


Instructor:
Suresh Nair, Ph.D., Associate Dean and Professor
Class Times: Friday sessions 6:00PM-9:00PM
Saturday sessions 9:00AM-5:00PM
Office:
BUS 309
Phone: (860) 486-1727
Office Hours: By appointment
Fax: (860) 486-4839
e-mail:
suresh.nair@business.uconn.edu
Course website:
http://users.business.uconn.edu/snair/opim5894.html
Prerequisite: OPIM 5641 Business Decision Modeling
Course Description: Analytical consulting is where business analytics and project management meet.
Whether you work as an external consultant or an internal staff member, much of the work you do
will involve data analytics and project management skills. This is particularly true in financial
services, where there is increasing convergence between operations, marketing and finance in
industries such as banking, credit cards, brokerage, insurance, mortgages, etc. Because of the
number of customers and the repeat nature of interactions over the customers lifetime, the
situation in financial services is different from the typical single encounter service operations.
Usually there is a lot of data available for analysis and decision making, and a wide variety of tools
and techniques are applicable from deterministic to stochastic modeling, from analytical methods
to simulation. This course will expose students to a wide array of real consulting situations in
business analytics operations and financial services, and will teach students methods of addressing
these problems using spreadsheets, simulation, and optimization methods. While consulting
encompasses many specific tasks and requires broad functional knowledge, there is an increased
need and appreciation of the usefulness of analytical consulting.
Cases and Notes:
Class Notes
Grading:
Team breakout exercises and presentations
Individual homework
Final exam
Class participation

40%
25%
25%
10%

Team breakout exercises and presentations: Each team will work collectively on breakout
exercises and present findings to the class. Typically no write-up will be required. When you
submit an Excel sheet, please name the file TeamYY_BreakoutNN.xlsx .
Individual homework: Submit both homework assigned. Homework should be turned in by the
beginning of class. When you submit an Excel sheet, please name the file
firstname_lastname_HWnn.xlsx . Caution: This is individual work. If two identical submissions
are found, both students will get a grade of zero.
1

Final exam: The exam will primarily consist of multiple choice and simple problem formulation and
solution as done during class exercises. They will also have questions from cases discussed. Exam
is open-book, notes, computers, templates.

Coverage of Topics
Day and
Time
10/17/2014 Fr 6:00PM9:00PM

Class Date
1

10/24/2014

10/25/2014

Fr 6:00PM9:00PM
Sa 9:00AM5:00PM

10/31/2014

11/1/2014

Fr 6:00PM9:00PM
Sa 9:00AM5:00PM

7
8

11/7/2014

Fr 6:00PM9:00PM

11/8/2014

Sa 9:00AM5:00PM

11/14/2014

Fr 6:00PM9:00PM

10
11

Topic
Introduction to consulting in financial services, Simulating
alternative recommendations in Financial Services
Breakout Exercise and Presentation
Introduction to financial options, Simulation HW due
Breakout Exercise and Presentation
Acquisition models in financial services
Breakout Exercise and Presentation
Conjoint Analysis for New Product Development in Financial
Services
Breakout Exercise and Presentation
Markov models, Options and Acquisitions HW due
Breakout Exercise and Presentation
Modeling using dynamic programming
Breakout Exercise and Presentation
Elementary VBA coding for dynamic programming
Breakout Exercise and Presentation
Stochastic modeling using dynamic programming, Conjoint
Analysis HW due
Breakout Exercise and Presentation
Real options in Financial Services
Breakout Exercise and Presentation
Creativity, Critical thinking and Critical analysis in Consulting
Breakout Exercise and Presentation
Teaching evaluation, DP HW due
Final exam