1. Handbook
  2. Subjects
  3. Business Analytics for Decision Making

Business Analytics for Decision Making (MGMT90239)

Graduate courseworkPoints: 12.5Online

You’re viewing the 2019 Handbook:
Or view archived Handbooks

Overview

Year of offer2019
Subject levelGraduate coursework
Subject codeMGMT90239
Availability
Term 1 - Online
Term 3 - Online
FeesSubject EFTSL, Level, Discipline & Census Date

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 2019