Business Analytics is generally thought to comprise three broad categories: descriptive analytics, predictive analytics, and prescriptive analytics. This module focuses on the first two and it has been designed for students that have taken an introductory statistics module as well as for students with no prior higher education experience in statistics.
The aim of this module is to provide students with the theory and techniques to perform business analysis using descriptive and predictive analytics.
By the end of this module the student should be able to:
1. Identify data requirements and source required data;
2. Make sense of and analyse data using statistical methods and statistical software;
3. Interpret analysis results, gain insights into the interrelationships of different business aspects and their effect on organisational decision making, and use results/insights to inform decisions.
1 Control and quality of decisions:
Are we in control of our decisions; is decision making rational or emotional; what makes for a good decision; is decision making an art or a science – data and information, characteristics of good information; applications of big data and analytics; use of data in the finance function and creating value for organisations
2 Overview of business decision-making methods
including multi-criteria decision analysis; conjoint analysis, pareto analysis, SWOT analysis, etc.
3 Decision tables and decision trees;
Demonstrate the relationship between data variables
4 Basic business data analysis using Excel.
The use of digital technologies in the finance function; demonstrate trends and patterns using an appropriate technique; prepare a trend equation using either graphical means or regression analysis; identify the limitations of forecasting models
5 Business decision-making in practice
using a Business Simulation.
Teaching and Learning Work Loads
|Teaching and Learning Method||Hours|
SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.
Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.
We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2021/22 , and may be subject to change for future years.