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The aim of Business Analytics is to present students with a range of modern methods for extract relevant information from data to make improved business decisions.
Big data is big business, but there are not enough managers who can ask the right questions and interpret the results of analysis effectively. Business Analytics is the science of extracting useful information from datasets, large and small. Many of the methods have been around for decades but only recently has the value that lies in business data repositories been realised.
Effective analytics is about knowing which type of data to use for solving a business problem, and how to influence the organization to move from a ‘decision‐based evidence making’ mode to an ‘evidence‐based decision making’ mode.
Intended learning outcomes
On completion of this subject the student should be able to:
- Be able to formula a business problem in terms of measureable variables and their relationships and distributions.
- Understand the data generation process and then think about causality coherently.
- Convert raw data into relevant information for management decisions.
- Predict future outcomes, and prescribe appropriate management action based on those predictions.
- Develop presentation skills to convey this information to non‐technical audiences.
Last updated: 2 December 2019