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MANG6321 Introduction to Business Analytics and Management Sciences

Module Overview

Management science is a field which is hard to characterise succinctly. However, there is fairly general agreement that it is informed by scientific ideas and concepts, in the broadest sense, that it centrally employs model-building, that its models are based on empirical data, and that it is, or should be, a practical discipline, aimed at supporting management activity in all its forms and contexts. Business analytics is closely related to management science. It refers to the use of data as well as statistical methods and models to support the process of making business decisions. This module provides general knowledge about business analytics and management science with the emphasis on their practice. It also provides a basic knowledge of how to manage business analytics and management science processes. The module introduces the basics of decision analysis as an example of a business analytics and management science method.

Aims and Objectives

Module Aims

to provide you with general knowledge about business analytics and management science.

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

  • the basic concepts of business analytics and management science;
  • the nature of business analytics and management science and relate it to business and management practice.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • reflect on issues related to business analytics and management science practice;
  • apply the basics of decision analysis to solve business analytics and management science problems;
  • plan business analytics and management science processes;
  • report on business analytics and management science processes in written format.
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • problem-solve;
  • critically think;
  • bibliographic.

Syllabus

This module describes the broad scope of business analytics and management science: the wide range of techniques, tools, methods and approaches. By way of example, the basics of one particular problem-solving approach – decision analysis – are covered. The module discusses the way in which business analytics and management science are practiced, and the contexts in which they are practiced both in the UK and beyond. This is illustrated with examples from various industries. The focus is also on business analytics and management science processes, including their planning, reporting on them etc.

Learning and Teaching

Teaching and learning methods

The module is taught by a mix of lecture and discussion sessions. The above-mentioned Intended Learning Outcomes (ILOs), A1, A2, B1, B2, B3, B4, C1, C2 and C3, are all covered in lectures. In addition, there are discussion sessions and in-lecture exercises that cover selected ILOs, A2, B1, B2, C1 and C2. For example, there is a session on credit scoring, since it is one of the most successful applications of management science in practice. After a short introduction to credit scoring, students develop their own expert-based scorecard and subsequently use it to accept/reject hypothetical loan applicants (group working).

TypeHours
Teaching12
Independent Study63
Total study time75

Resources & Reading list

J. R. EVANS (2013). Business Analytics: Methods, Models, and Decisions. 

D. R. ANDERSON, D. J. SWEENEY, T. A. WILLIAMS & K. MARTIN (2011). An Introduction to Management Science: Quantitative Approaches to Decision Making. 

T. WILLIAMS (2008). Management Science in Practice. 

Assessment

Formative

In-class activities

Summative

MethodPercentage contribution
Coursework  (3000 words) 100%

Repeat

MethodPercentage contribution
Coursework  (3000 words) 100%

Referral

MethodPercentage contribution
Coursework  (3000 words) 100%

Repeat Information

Repeat type: Internal & External

Costs

Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Textbooks

Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the mandatory/additional reading text as appropriate.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.

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