Foundational Business Analytics
| Code | School | Level | Credits | Semesters |
| BUSI4371 | Business | 4 | 20 | Autumn UK |
- Code
- BUSI4371
- School
- Business
- Level
- 4
- Credits
- 20
- Semesters
- Autumn UK
Summary
This module introduces fundamental statistical concepts and key modelling techniques in data science, while laying a foundation for the general programming skills required by any top modern business analyst. A range of modelling concepts will be covered (such as feature engineering, regression, decision trees and clustering techniques) against a background of real world datasets (predominantly based on consumer data). Students will learn not only how to successfully implement foundational data science techniques, but also how to evaluate and communicate results in order to make them effective in actual business environments.
Target Students
Available for MSc Business Analytics students ORMRes Geospatial Data Science students AND MSc Exchange students.
Classes
- Two 2-hour lectures each week for 11 weeks
This module is taught through a combination of lectures and computing sessions.
Assessment
- 20% Inclass Test: In-class quizzes. Reassessment for this module is 100% 2 hour exam.
- 50% Coursework: 3,000 words. Reassessment for this module is 100% 2 hour exam.
- 30% Inclass Test: 1 hour. Reassessment for this module is 100% 2 hour exam.
Assessed by end of autumn semester
Educational Aims
To develop understanding and practical skills in core descriptive analytic techniques. This will cover fundamental statistical knowledge, general programming skills and approaches to common problems within business analytics. Students will also complete the module with appropriate evaluation and communication skills to produce results that are effective in real-world situations.Learning Outcomes
Knowledge and Understanding
This module develops a knowledge and understanding of:
● Marketing and sales and different approaches for segmentation, targeting, positioning, generating sales, and the need for innovation in product and service design
● Customers and stakeholders - customer expectations, service and orientation
● The management of projects
● Tools and techniques for transforming (big) data into useful information for business analysis and decision support
● Communications and the comprehension and use of relevant communications for application in business and management, including the use of digital tools
● Digital business and the development of strategic priorities to deliver business at speed in an environment where digital technology is reshaping traditional revenue and business models, associated risk management
Intellectual Skills
This module develops:
• Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
• Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions
• Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills
Professional Practical Skills
This module develops:
• The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of qualitative data, synthesis and reporting
• The ability to recognise the need for and initiate change and to be able to manage change
• The ability to recognise and address ethical dilemmas, corporate social responsibility and sustainability issues, applying ethical and organisational values to situations and choices
Transferable (key) Skills
This module develops:
• Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
• High personal effectiveness: critical self-awareness, self-reflection and self-management; time management; conflict resolution, displaying commercial acumen, the ability to continue to learn through reflection on practice and experience
• Soft skills: understanding the needs of others and empathy towards them; sensitivity to diversity in people and in different situations