Business Analytics and Risk

Learning Outcomes

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Apply a range of business analytics to support business decisions.
• Analyse and evaluate business risk scenarios, based on relevant data and statistical techniques;
• Critically evaluate the appropriate application of different analytical approaches;

Knowledge and Understanding

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

• A range of analytical modelling approaches to support business decisions.
• The different uses of data analytics to inform business decisions.
• The impact of risk and uncertainty in a range of business scenarios;

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Information technology and computing using commercial software;
• Interpreting and analysing quantitative data related to business issues, using appropriate financial and/or statistical skills and models to solve problems;
• Thinking critically and arguing effectively;
• Use problem structuring methods to analyse complex problems.

Basic principles underpinning descriptive, predictive and prescriptive analytics such as, but not limited to:

• Statistics analysis
• Visual analytics
• Decision making under uncertainty
• Forecasting and classification
• Simulation

Applications of descriptive analytics tools

Applications of predictive analytics tools

Applications of prescriptive analytics tools

Teaching and learning methods

• Lectures
• Problem solving sessions
• Case studies

Resources & Reading list

Journal Articles

Kunc, M., and O'Brien, F.A. (2018). The role of business analytics in supporting strategy processes: Opportunities and limitations. Journal of the Operational Research Society, 1-12.

Textbooks

Curwin, J. and Slater, R (2004). Quantitative Methods: A short course. Thomson.

Robinson, S. (2004). Simulation: The Practice of Model Development and Use. John Wiley & Sons.

Evans, J.R. (2014). Business Analytics: Methods, Models, and Decisions. Upper Saddle River, NJ: Pearson.

Render, B., Stair, R.M. and Hanna M.E. (2009). Quantitative Analysis for Management. Prentice Hall.

Wisniewski, M. (2010). Quantitative Methods for Decision Makers. Prentice Hall.

Morris, C. (2003). Quantitative Approaches in Business Studies. Prentice Hall.

Kunc, M. (2018). Strategic Analytics: Integrating Management Science and Strategy. John Wiley & Sons.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External