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Business Analytics for Decision Making (MGMT90239)
Graduate courseworkPoints: 12.5Online
About this subject
Contact information
Term 1
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
Jackson Yuen jctyuen@unimelb.edu.au
Term 3
Email: continuing-education@unimelb.edu.au
Phone: + 61 3 8344 0149
Contact hours: https://unimelb.edu.au/professional-development/contact-us
Jackson Yuen jctyuen@unimelb.edu.au
Overview
| Availability | Term 1 - Online Term 3 - Online |
|---|---|
| Fees | Look up fees |
This subject will focus on quantitative approaches to analyse business problems and based on these analyses, make effective decisions. The subject will explore descriptive analytic, predictive analytic, and prescriptive analytic techniques. Using these techniques, students will develop understanding of a wide variety of strategic and operational business decision problems 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 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 decision 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
Analytical skills through analysis of business problems and decisions;
Last updated: 8 November 2024