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Module Catalogue

IB122-15 Business Analytics

Department
Warwick Business School
Level
Undergraduate Level 1
Module leader
Katy Hoad
Credit value
15
Module duration
10 weeks
Assessment
30% coursework, 70% exam
Study location
University of Warwick main campus, Coventry

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Introductory description

This module is only open to WBS undergraduate students, and some students taking joint degrees with WBS and another department. Students from other departments cannot take this module. To find detailed availability and to apply for this module, log in to my.wbs.ac.uk using your normal IT login details and apply via the my.wbs module application system. Once you’ve secured a place on my.wbs you should apply via your home department’s usual process, which usually takes place via eVision. Note that you do not require the module leader’s permission to study a WBS module, so please do not contact them to request it.

Business Analytics is used by companies committed to data-driven decision-making. It is the practice of methodical and intelligent exploration of an organisation’s data to gain insight and drive business strategy and operational decisions

Module web page

Module aims

The overall aim of this module is to enable students to develop an analytic mind-set and give them a basic data literacy useful for the business environment. The module aims to give students an understanding of the three main types of business analytics:

Descriptive analytics – provide insight into the past and answer the question “what has happened?”
Predictive analytics – use of quantitative data modelling techniques to provide insight into the future and answer the question “what might happen?”
Prescriptive analytics – investigate the actions needed to achieve predicted desired outcomes and answer the question “what should I do?”
Teaching is via lectures and workshops with an emphasis on solving real-life problems using case study material. The workshops offer students the opportunity to apply the concepts introduced in the lecture material. Assessment is via examination and assignment, offering students the opportunity to demonstrate their ability to understand and apply the material to relevant problems.

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.

An introduction to descriptive, predictive and prescriptive analytics.
Statistical and mathematical modelling of ‘real’ business data to answer descriptive, predictive and prescriptive business questions.

Learning outcomes

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

  • Be able to describe the 3 main types of analytics (Descriptive, Predictive and Prescriptive) and understand their importance in the business decision making process
  • Be able to demonstrate familiarity with basic quantitative analytic concepts and some specific business analytic techniques, e.g. statistical modelling of multivariate data, mathematical programming and optimisation methods for decision making.
  • Use appropriate software to analyse business data and carry out some of the more common descriptive, predictive and prescriptive analytic methods/techniques, e.g. statistical modelling of multivariate data, mathematical programming and optimisation methods for decision making.
  • Understand and interpret the output / results of such analytic techniques in a business context.
  • Problem solving skills.
  • Critical and logical thinking.
  • Analytical mindset.

Indicative reading list

Illustrative bibliography: Evans, J. (2016) 2nd - Edition, Business Analytics: Methods, Models and Decisions, Pearson, ISBN: 9781292095448. Powell, S.G & Baker, K.R. (2017), 5th Edition, Business Analytics: The Art of Modeling With Spreadsheets, Wiley, IBSN:9781119298427. Schniederjans, M.J. & D.G & Starkey, C.M. (2014), Business Analytics Principles Concepts and Applications: What, Why and How, Pearson, ISBN: 9780133552188. Albright S.C. & Winston W.L. (2015), 5th Edition, Business Analytics: Data Analysis and Decision Making, Cengage Learning, ISBN:9781133629603. Jank, W. (2011), Business Analytics for Managers, Springer-Verlag, ISBN: 9781461404057. Hillier, F. (2015) Introduction to Linear Programming: Introduction to operations research. United Kingdom: McGraw-Hill, pp.25- 70. Denardo, E.V., (2011). Linear programming and generalizations: a problem-based introduction with spreadsheets (Vol. 149). Springer Science & Business Media, Chapter 1 (pages 3-11), Chapter 2 (pages 33-63).

Subject specific skills

Be able to apply some practical real world analytical approaches for business decision making / problem solving. Have developed a working knowledge of appropriate analytical software.

Transferable skills

Problem solving skills. Critical and logical thinking. Analytical mindset. Competency in understanding and producing numerate / quantitative communication. Developed a basic data literacy useful for the business environment.

Study time

Type Required
Lectures 10 sessions of 1 hour (7%)
Seminars 9 sessions of 1 hour (6%)
Online learning (independent) 10 sessions of 1 hour (7%)
Private study 48 hours (32%)
Assessment 73 hours (49%)
Total 150 hours

Private study description

Private Study.

Costs

No further costs have been identified for this module.

You do not need to pass all assessment components to pass the module.

Assessment group DA
Weighting Study time Eligible for self-certification
Assessment component
Group Work 30% 22 hours No
Reassessment component
Individual Assignment Yes (extension)
Assessment component
In-person Examination 70% 51 hours No

Exam

  • Answers provided on Question Paper. No Answerbook required
  • Students may use a calculator
  • Graph paper
Reassessment component is the same
Feedback on assessment

Marker's comments on typical errors are posted to my.wbs.

Past exam papers for IB122

Pre-requisites

To take this module, you must have passed:

Post-requisite modules

If you pass this module, you can take:

  • IB320-15 Simulation
  • EC226-30 Econometrics 1
  • IB2B2-15 Financial Econometrics

Courses

This module is Core optional for:

  • UIBA-N20B BSc in Management
    • Year 1 of N20B Management
    • Year 1 of N20B Management
    • Year 1 of N23K Management with Accounting
    • Year 1 of N234 Management with Digital Business
    • Year 1 of N235 Management with Entrepreneurship
    • Year 1 of N232 Management with Finance
    • Year 1 of N252 Management with Marketing
    • Year 1 of N23L Management with Strategy and Organisation
  • Year 1 of UIBA-N400 Undergraduate Accounting and Finance
  • Year 2 of UIBA-N403 Undergraduate Accounting and Finance (with Foundation Year)
  • UIBA-N401 Undergraduate Accounting and Finance (with Placement Year/Undergraduate Partnership Programme)
    • Year 1 of N401 Accounting and Finance (Placement)
    • Year 1 of N402 Accounting and Finance (Undergraduate Partnership Programme)
  • UIBA-N20F Undergraduate International Management
    • Year 1 of N20F International Management
    • Year 1 of N20F International Management
    • Year 1 of N20S International Management (with Accounting)
    • Year 1 of N20T International Management (with Chinese)
    • Year 1 of N20P International Management (with Entrepreneurship)
    • Year 1 of N20M International Management (with Finance)
    • Year 1 of N20U International Management (with French)
    • Year 1 of N20L International Management (with Marketing)
    • Year 1 of N20V International Management (with Spanish)
    • Year 1 of N20W International Management (with Strategy and Organisation)
    • Year 1 of N20N International Management with Digital Business
    • Year 1 of N20E Management (with Foundation Year)
    • Year 1 of N234 Management with Digital Business
  • UIBA-N20E Undergraduate Management (with Foundation Year)
    • Year 2 of N20E Management (with Foundation Year)
    • Year 2 of N23N Management with Accounting (with Foundation Year and Placement Year)
    • Year 2 of N23M Management with Accounting (with Foundation Year)
    • Year 2 of N23E Management with Digital Business (with Foundation Year)
    • Year 2 of N23F Management with Entrepreneurship (with Foundation Year)
    • Year 2 of N23D Management with Finance (with Foundation Year)
    • Year 2 of N252 Management with Marketing
    • Year 2 of N254 Management with Marketing (with Foundation Year)
    • Year 2 of N23P Management with Strategy and Organisation (with Foundation Year)
  • UIBA-N20C Undergraduate Management (with Placement Year/Undergraduate Partnership Programme)
    • Year 1 of N20M International Management (with Finance)
    • Year 1 of N20B Management
    • Year 1 of N20D Management (Undergraduate Partnership Programme)
    • Year 1 of N20C Management (with Placement Year)
    • Year 1 of N20Q Management with Accounting (with Placement Year)
    • Year 1 of N236 Management with Digital Business (with Placement Year)
    • Year 1 of N237 Management with Entrepreneurship (with Placement Year)
    • Year 1 of N232 Management with Finance
    • Year 1 of N233 Management with Finance (with Placement Year)
    • Year 1 of N253 Management with Marketing (with Placement Year)
    • Year 1 of N23L Management with Strategy and Organisation
    • Year 1 of N20R Management with Strategy and Organisation (with Placement Year)

This module is Optional for:

  • Year 1 of UGEA-RN21 Undergraduate German and Business Studies
  • Year 1 of UIPA-L8N1 Undergraduate Global Sustainable Development and Business