A set of logical and mathematical operations performed in a specific sequence.
The quantity of sales that results in zero profit.
A data-driven approach to decision making that allows companies to make better decisions.
The study and consolidation of historical data to describe how a company has performed in the past and how it is performing now.
A model in which all values used in the model are known with complete certainty.
Data that are used in a model in arriving at the final solution.
A model that uses mathematical equations and statements to represent the relationships within the model.
A representation of reality or of a real-life situation.
A measurable input quantity that is inherent in a problem.
The use of techniques to forecast how things will be in the future based on patterns of past data.
The use of optimization methods to provide new and better ways to operate based on specific business objectives.
A model in which all values used in the model are not known with certainty but rather involve some chance or risk, often measured as a probability value.
A statement, which should come from a manager, that indicates a problem to be solved or an objective or a goal to be reached.
A scientific approach that uses quantitative techniques as a tool in decision making.
A process that involves determining how sensitive a solution is to changes in the formulation of a problem.
A measurable quantity that is subject to change.