This module seeks to develop in students the ability to evaluate and respond to various business needs based on a critical understanding of and application of data analytics principles, concepts, tools and techniques. In the first part of the module, students focus on the digital organization and the challenges and opportunities presented through data. Students critically evaluate the evolving importance, value and role of data and data analytics in transforming organisations, operations, and processes, while covering elements of digital strategy and data-driven business innovation. The module develops within students an understanding of the strategic and operational implications of digital technologies and data innovations to the business. Students develop in-depth understanding of the theory and practice of adopting a data-driven approach to various parts of the organisation, and how data analytics can be used to develop business solutions and improvements. Students learn to develop and critique various business case scenarios applying principles and concepts of business analytics assessing their suitability in responding to a particular business problem.
In the second part of the module, students are introduced to fundamental data analytics concepts and statistical tools and techniques required to successfully implement business analytics solutions and deliver value. This part of the module will develop students’ abilities to explore, describe, analyse, and interpret data soundly while making effective use of computer software. Students cover various fundamental statistical concepts of data including distributions, sampling and hypothesis testing, as well as those tools and techniques as utilized to detect signals, trends, correlations, and causal relationships among the activities. Students will learn to select and apply appropriate statistical concepts and techniques to solve business problems.
The module is delivered within the framework of the business analytics Lifecyle from business understanding to data visualisation and insight, to solution evaluation. The principles, concepts, tools, and techniques learnt on this module lay the foundation for approaching business analytics projects in general and support the more advanced applied modules on the MSc Business Analytics programme.
Learning Outcomes
By the end of this module students should be able to:
Critically evaluate the role of digital and data innovation in emerging business models and the impact of data on business decision-making and customer value.
Critically analyse business processes with regards to their potential for digitization, and critically appraise the impact on the organisation structure and processes.
Critically evaluate for a business case the principles and concepts of business analytics which apply in addressing a given business problem including acquiring, preparing, storing and processing data.
Demonstrate a critical understanding of fundamental statistics and data analytics theory and concepts of relevance to describing, analysing and interpreting data.
Select and apply appropriate statistical concepts for the analysis of given data sets and carry out statistical data analytics tasks using computer software.
Assessment
38155-01 : Business Case - individual assignment : Coursework (40%)
38155-02 : Technical Report - Individual Assignment : Coursework (60%)
Assessment Methods & Exceptions
Assessment: 2000-word individual assignment – Business Case (40%) and 2500-word individual assignment – Technical Report (60%)
