The aim of this module is to enable students to develop an analytic mindset and to provide them with basic data literacy useful for the business environment. Business Analytics is used by firms committed to data-driven decision-making. It is the practice of methodical and intelligent exploration of an organisation’s data to gain insight and drive business strategy and operational decisions. The module aims to give students an understanding of the three main types of business analytics: • Descriptive analytics: provide insight into the past and addresses the question “what has happened” • Predictive analytics: use of quantitative data modelling techniques to provide insight into the future and addresses the question “what might happen” • Prescriptive analytics: investigate the actions needed to achieve predicted desired outcomes and addresses the question “what should I do” Module delivery are via lectures with an emphasis on solving real-life problems using case study material. The case studies offer students the opportunity to apply the concepts introduced in the lecture material.
A Demonstrate an advanced and comprehensive knowledge and understanding of core concepts and analytical frameworks in business analytics. B Employ IT knowledge and techniques to solve complex business and management problems. C Critically apply relevant knowledge, skills and creativity in modelling and analyzing business and management problem using quantitative techniques, such as optimization, network design, decision analysis and statistical models. D Evaluate arguments or propositions and make judgments that can guide the application of appropriate analytical approaches to complex business/management problems.
The teaching philosophy of the module adopts the philosophy of Syntegrative Education. This has meant that the teaching delivery pattern, which follows more intensive block teaching, allows more meaningful contribution from industry partners. This philosophy is carried through also in terms of assessment, with reduction on the use of exams and increase in coursework, especially the use of problem-based assessment which is project focused. The delivery pattern provides space in the semester for students to concentrate on completing the assessments. This module will be delivered through lectures, seminars and tutorials. Teaching will be conducted using problem-based learning, with problems embedded in the lectures. General transferable skills are developed through the presentation of written and oral reports.