Core modules 6

Analytics for Business

Quantitative analysis of business data provides a key skill for success in the modern, data rich business environment. This module focuses on some of the most widely used techniques, related to data summary and sampling. The intention is not only to equip you with the practical skills to implement the necessary techniques, but to acquire the skills of discretion in choice of appropriate method and clarity in the interpretation of the output from such methods and extraction of the information of most importance to the business decision maker.

The aim of this module is to introduce you to some of the most important statistical tools used in business analytics, focussing on descriptive and predictive analytics. The focus is on application and interpretation of the tools and results.

Learning outcomes:

• Develop analytical skills in structuring and analysing business decision problems.
• Build analytical models for a variety of problems in a number of functional areas.
• Understand usefulness and limitation of selected techniques.
• Use software to generate computer solutions of the models.
• Demonstrate skills in interpreting the business significance and communicating the analysis and results of business decision problems.