Quantitative business skills, including exploratory data analysis and descriptive analytics grounded in mathematics, statistics, and computing, are essential for solving organisational problems and are widely used in practice. These skills ensure students possess the necessary mathematical, quantitative, statistical, and modelling capabilities to study business and management techniques across any pathway in the business and management suite of programmes. This module clarifies business scenarios where such techniques are applicable, demonstrating their use and result interpretation for better decision-making. Students will tackle challenging case studies based on real-world problems, applying problem-solving concepts, making recommendations, and reporting findings.
Data is considered 'the new oil,' and its significance is paramount today. However, many individuals and organisations do not utilise data effectively. This module helps students learn to manage business and management data, countering the belief that success can be achieved without data and analytics. You will learn fundamental analytics concepts, principles, and techniques and see how data collection, description, visualisation, and analysis aid decision-making for businesses, governments, and other organisations. Moreover, visualisation is a rapid and effective technique for understanding data, uncovering complex relationships, and determining their importance. It allows sophisticated analyses to be performed quickly, highlighting patterns and supporting faster, more effective decision-making.
Learning Outcomes
By the end of the module students should be able to:
Utilise methods, functions, measures, and suitable graphs for summarising data.
Apply spreadsheet functions, formatting, data pre-processing, and effective and creative data visualisation tools and techniques.
Identify and employ appropriate probability distributions for managing situations involving uncertainty.
Apply fundamental inferential statistics, such as hypothesis testing, statistical relationships, regression, and estimation, to support management decisions.
Conduct mathematical, statistical, and logical data analysis using relevant software packages.
Assessment
Assessment Methods & Exceptions
Assessment:
7 minutes group oral presentation (30%) 2,500 words individual written report (70%)
Reassessment:
Re-assessment by failed component:
2,500 words individual assignment – written report (70%)
