Foundations of Business Analytics

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• basic concepts of statistical analysis and inference models.
• the scope and nature of different types of business analytics techniques;
• the role of probability theory in modelling uncertainty;
• the role of business analytics in generating value from data;

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• use probability distributions to model uncertainty in real life problems;
• apply basic business analytics techniques to business problems;
• apply basic statistical analysis and inference models to business problems.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• learn the basics of mathematical arguments;
• use a variety of visual models for representing the results of your analysis.
• communicate mathematical ideas effectively both in oral and written form;

The topics covered in this module will include:

• The role of business analytics in generating value from data based on case studies from industry;
• Various types of business analytics techniques, i.e. descriptive, predictive, and prescriptive, along with relevant examples and case studies;
• Introduction to the concept of modelling;
• Important concepts of probability theory, including random variables, expectation, and probability distributions;
• Statistical inference and relevant models;
• An introduction to clustering;
• Applications of selected modelling approaches.

Teaching methods include:

• Lectures
• Interactive case studies
• Problem-solving activities
• Directed reading
• Private/guided study

Learning activities include:

• Introductory lectures
• Case study/problem solving activities
• In class debate and discussion
• Private study
• Use of video and online materials

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Weekly online exercises

• Assessment Type: Formative
• Feedback: Prompt and individual feedback will be given in the on-line weekly assessment tasks that the student can do from home. Verbal formative feedback is given throughout the module during lectures, classes and one-to-one meetings.
• Final Assessment: No
• Group Work: No

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.