Course Brief

The course is divided into six modules. In the first of these, we will introduce you to the concept of business analytics and will explain how data and statistical tools help people and management to gain experience in the context of business decisions and problem solving.

The next two modules focus on descriptive analytics. Module 2 focuses on the statistics concepts using a range of tools and techniques. Module 3 examines inferential statistics methods using different sampling methods and estimation.

Module 4 introduces predictive analytics. Predictive analytics is concerned primarily with converting data into useful information that allows us to predict future performance within the business. In this module we’ll look at a wide range of techniques that analysts use, including different regression models and forecasting tools.

Module 5 introduces prescriptive analytics. Prescriptive analytics is concerned primarily with converting data into useful information that tells us about the likely outcome of an event within the business. In this module, we introduce a range of different tools and techniques for prescriptive analytics, beginning with discrete event simulation, then turning to probabilistic simulation using Monte Carlo simulation. We then look at linear programming and decision analysis.

Module 6 focus on the impact of big data upon the organisation. The term 'big data' refers to any array of datasets that is so complex and large, and difficult to process with the traditional data management software. In this module we examine how to select an alternative processing method in order to extract value and discover insights from the data. Big data is the next evolution of business analytics, business intelligence and data warehousing, and it is compiled to help businesses generate revenues.

 


  • 30 - 60 Contact Hours

On successful completion of this course, you will be able to:

  • understand the different approaches used by business analysts and management consultants to solve decision problems;
  • appreciate the purpose and value of business analytics in management decision making;
  • possess a working understanding of the key statistical concepts that underpin aspects of strategic decision sciences;
  • gain the practical skills to apply a range of analytical techniques used by Business Analysts; and
  • gain a high-level understanding of the key concepts of big data and big data analytics.
Topics Covered
 
  • Introduction to business analytics
  • Descriptive analytics-Introduction to Statistics
  • Descriptive analytics- Sampling and Estimation
  • Predictive analytics
  • Prescriptive analytics
  • Introduction to big data
  • Master of Business Administration - MBA

     

                  

     

     

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