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Business Analytics for Decision Making (MGMT90239)
Graduate courseworkPoints: 12.5Online
About this subject
Contact information
Term 1
Melbourne School of Professional and Continuing Education
Further information: https://study.unimelb.edu.au/find/courses/graduate/master-of-applied-analytics
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Monday to Friday 8am to 9pm AEST/AEDT. Weekends and University of Melbourne observed Public Holidays 10am to 5pm AEST/AEDT.
Academic Contact: Mr Jackson Yuen jctyuen@unimelb.edu.au
Term 3
Melbourne School of Professional and Continuing Education
Further information: https://study.unimelb.edu.au/find/courses/graduate/master-of-applied-analytics
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Monday to Friday 8am to 9pm AEST/AEDT. Weekends and University of Melbourne observed Public Holidays 10am to 5pm AEST/AEDT.
Academic Contact: Mr Jackson Yuen jctyuen@unimelb.edu.au
Overview
| Availability | Term 1 - Online Term 3 - Online |
|---|---|
| Fees | Look up fees |
This subject will focus on developing students’ understanding of a wide variety of strategic and operational business problems and decisions being faced by managers and decision makers in the fields of financial management, human resource management, marketing management, operations management, and international business management. Students will be shown how to use a range of quantitative approaches to analyze business problems and, based on these analyses, make effective decisions. The subject will take descriptive analytic, predictive analytic, and prescriptive analytic approaches. Students will be expected to be able to calculate and manipulate data as well as interpret the results in order to derive and evaluate alternative solutions to typical business problems.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Familiarize themselves with the descriptive analytic, predictive analytic, and prescriptive analytic approaches;
- Acquire an understanding of the application of quantitative approaches to management;
- Formulate various business optimization problems as mathematical models, such as linear programming and integer programming;
- Apply the Excel Solver to solve the mathematical models and analyze the solutions;
- Adopt the decision analysis approach with perfect and sample information to develop an optimal strategy;
- Understand the fundamentals of decision making under uncertainty;
- Recognize the role of probability and probability distributions in evaluating alternative courses of action;
- Analyze past trend in an effort to predict the future by using the regression analysis approaches.
Generic skills
Critical thinking skills through online discussion and written assessments, and in relation to the effectiveness of solutions;
Last updated: 9 April 2024