Introductory description

The ability to use and make sense of quantitative information is an essential skill for any student taking a business or management degree. Foundation of Data Analysis for Management provides the students with the basic knowledge of statistics and probability.

After completing the module, the students will be able carry out analysis of data as well as be able to critically assess reported quantitative information. These skills are essential for
any career in business and management. The module provides a foundation for the term 2 module Business Analytics (IB122) and for both other modules offered in the second and third year that develop and expand on this disciplinary area.

Module web page

Module aims

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Business Statistics:
Introduction to statistical analysis and modelling, data presentation, descriptive statistics, basic probability concepts, introduction to probability distributions, sampling methods, confidence intervals, hypothesis testing, introduction to regression.

Learning outcomes

By the end of the module, students should be able to:

• Understand the importance of statistical methods for modern business practices, and be aware of the strengths and limitations of these methods.
• Be familiar with basic statistical concepts and specific techniques.
• Tackle real life quantitative problems and be able to convey results and discuss the issues involved.
• Problem solving skills..

Indicative reading list

• Siegel, A. (2016), "Practical business statistics", 7th edition, Academic Press. ISBN 9780128042502
• Favero, L. P. (2019), "Data science for business and decision making", Academic Press. ISBN 9780128112175
• Salkind, N. J. (2017), "Statistics for people who (think they) hate statistics", 6th edition, SAGE. ISBN 9781506361161
• Spiegelhalter, D. (2019), “The Art of Statistics: Learning from Data”, Pelican. ISBN: 9780241398630
• Levitt, S and Dubner, S (2009). “Freakonomics: A Rogue Economist Explores the Hidden Side of Everything”, Harper Perennial. ISBN: 978-0060731335

Subject specific skills

Apply basic quantitative tools, be aware of limitations.

Transferable skills

Use Excel for basic data analysis ranging from descriptive statistics to regression models.
Critical and logical thinking.