BSD131 Business Analytics


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Unit Outline: College 1 2024, Kelvin Grove, Internal

Unit code:BSD131
Credit points:12
Equivalent:BSB131
Coordinators:Jason Hay | jm.hay@qut.edu.au
Robert Baltrusch | robert.baltrusch@qut.edu.au
Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of the teaching period.

Overview

Organisations use business analytics to understand and solve business problems, increase efficiency, leverage productivity, and ultimately enhance the business performance of organisations. This business core option unit introduces you to a practical framework for data collection, aggregation, processing, and modelling to transform data into business insights. You will gain knowledge of key business analytics methods and approaches, and build skills in using Excel to manage and analyse data sets — valuable competencies that will help you to improve decision-making in contemporary business environments across all business disciplines.

Learning Outcomes

On successful completion of this unit you will be able to:

  1. Apply a selection of methods to collect, aggregate and process business data from multiple sources. [KS 1.1, KS 1.2, HO 2.1]
  2. Present data and analysis results in effective forms to assist business decision making in a variety of industrial and organisational contexts. [KS 1.2, PC 3.1]
  3. Critically analyse data using a variety of methods and approaches to generate business insights and inform business decision making. [KS 1.2, HO 2.1, HO 2.2]
  4. Apply key principles and processes of business analytics for the creation of value from data. [HO 2.1, HO 2.2, SE 5.1]

Content

This unit cover three interrelated components of applied business analytics:

  1. Descriptive analytics covers topics related to data collection and data aggregation to aggregate and describe past and current trends of business. This part will introduce descriptive techniques and methods of presenting data to inform decision making.
  2. Predictive analytics utilises theories of probability, likelihood, and the distribution of outcomes to understand factors that explain business patterns observed in past data and then build statistical models to predict and forecast future events, business outcomes and performance.
  3. Prescriptive analytics provides introduction to selected theories of decision analysis and linear optimisation to assist in making optimal decisions of resource allocation to achieve business objectives. 

 

QUT Business Capabilities (Diploma)

The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.


Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply theoretical and technical knowledge across the broad field of business.

1.2 Apply technical and technological skills to real world business purposes and contexts.

Higher Order Thinking (HO)
2.1 Investigate real world business problems, situations and requirements through the effective analysis, evaluation and synthesis of theoretical and practical knowledge and information.
2.2 Apply cognitive, technical and creative skills to develop and evaluate approaches and perform business operations that effectively respond to a diverse range of real world business problems and needs.

Professional Communication (PC)
3.1 Apply professional communication and academic literacy knowledge and skills to communicate effectively in written forms appropriate for diverse business and academic literacy purposes and contexts.
3.2 Apply professional communication and academic literacy knowledge and skills to communicate effectively in oral forms appropriate for diverse business and academic literacy purposes and contexts.

Teamwork and Self (TS)
4.1 Exercise initiative and judgement and personal responsibility to enhance organization and performance of own work and demonstrate self reflection in relation to own learning and practice.
4.2 Exercise initiative and judgement in planning, organizing and evaluating teamwork.

Social, Ethical and Global Understanding (SE)
5.1 Apply knowledge of ethical and legal responsibility perspectives in analyzing and addressing business issues.

5.2 Apply knowledge of socially responsible behaviour in analysing and addressing business issues across business contexts.

Learning Approaches

In this unit, you will learn by engaging in problem- and case-based activities designed to introduce you to key knowledge and skills that are relevant to different aspects and types of applied business analytics. You will explore how applied business analytics can be used to solve contemporary business problems to a variety of business careers.

You will be expected to attend and contribute regularly to workshops and tutorials, and work through content and self-directed formative learning activities presented on the unit Canvas site before and after class to supplement your learning.

Feedback on Learning and Assessment

Students will receive feedback in various forms throughout the semester which may include:

  • Informal: worked examples, such as verbal feedback in class, individual consultation
  • Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
  • Direct: to individual students, either in written form or in consultation
  • Indirect: to the whole class

Assessment

Overview

The assessment tasks in this unit provide you with opportunities to:

  • Demonstrate your understanding of the key concepts, models, techniques, and principles of applied business analytics
  • Develop higher order thinking skills in analysing business problems
  • Practice problem solving skills
  • Enhance Excel usage skills

Unit Grading Scheme

7- point scale

Assessment Tasks

Assessment: Problem Solving Tasks

Problem-solving exercises requiring the application of knowledge and problem-solving skills. Submissions will be on weekly basis from week 3 to week 8.

Formative or Summative: Formative and Summative

Business Capabilities (AoL goals): KS (1.1; 1.2), HO (2.1)

Weight: 20
Length: Four problem-solving exercises; each exercise is worth 5%.
Individual/Group: Individual
Due (indicative): Weeks 4-8
Related Unit learning outcomes: 1, 4

Assessment: Simulated Case Study

Write a research plan of business analytics. You need to synthesize your understanding of differing methods and models used in business analytics and apply your knowledge in a simulated consulting project, involving the identification of problems and articulate  analytical approaches and methods of data collection and analysis to provide potential solutions.

This is an assignment for the purposes of an extension.

Formative or Summative: Formative and Summative

Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), PC (3.1)

Weight: 35
Length: 1600 words
Individual/Group: Individual
Due (indicative): Week 9
Related Unit learning outcomes: 1, 2, 3

Assessment: Research Report

Write a research report extract involving:

  1. aggregating data from different sources;
  2. analysing collected data;
  3. articulating proposed solutions to the business problems; and
  4. presenting findings in a professional manner.

Formative or Summative: Summative

Business Capabilities (AoL goals): KS (1.2), HO (2.1, 2.2), PC (3.1), SE (5.1)

Weight: 45
Length: 1000 words.
Individual/Group: Individual
Due (indicative): Final exam block
Related Unit learning outcomes: 1, 2, 3, 4

Academic Integrity

Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.

Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.

You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.

Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.

Requirements to Study

Requirements

Access to a laptop/computer and Microsoft Excel.

Resources

Resource Materials

Prescribed text(s)

Evans, J.R., 2020. Business Analytics, Global Edition. Pearson Education Limited, Harlow, United Kingdom.

Recommended text(s)

Powell, S.G., Baker, K.R., 2016. Business Analytics: The Art of Modelling With Spreadsheets. Wiley, New York.

Other

Computer software - Microsoft Excel

Risk Assessment Statement

There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the Emergency video.

Standards/Competencies

This unit is designed to support your development of the following standards\competencies.

QUT Business Capabilities (Diploma)

HO (2.1): Critical Analysis

Relates to: ULO1, ULO3, ULO4, Problem Solving Tasks, Simulated Case Study, Research Report

HO (2.2): Independent Judgement and Decision-Making

Relates to: ULO3, ULO4, Simulated Case Study, Research Report

KS (1.1): Discipline Knowledge

Relates to: ULO1, Problem Solving Tasks, Simulated Case Study

KS (1.2): Technical and Technological Skills

Relates to: ULO1, ULO2, ULO3, Problem Solving Tasks, Research Report

PC (3.1): Professional Communication (Written)

Relates to: ULO2, Simulated Case Study, Research Report

SE (5.1): Ethical and Legal Understanding

Relates to: ULO4, Research Report

Course Learning Outcomes

This unit is designed to support your development of the following course/study area learning outcomes.

BS40 Diploma in Business

  1. Demonstrate and apply foundational theoretical and technical knowledge across the broad field of business.
    Relates to: ULO1, Problem Solving Tasks, Simulated Case Study
  2. Use technical and technological skills to understand real world business operations.
    Relates to: ULO1, ULO2, ULO3, Problem Solving Tasks, Research Report
  3. Investigate real world business problems and situations through the effective analysis and evaluation of foundational theoretical and practical knowledge.
    Relates to: ULO1, ULO3, ULO4, Problem Solving Tasks, Simulated Case Study, Research Report
  4. Apply independent judgement and initiative in adapting and applying knowledge and skills to address real world business problems.
    Relates to: ULO3, ULO4, Simulated Case Study, Research Report
  5. Communicate effectively using academic language and literacy skills appropriate to purpose and context across a range of written genres.
    Relates to: ULO2, Simulated Case Study, Research Report
  6. Apply knowledge of ethical and legal perspectives in analysing and addressing business issues.
    Relates to: ULO4, Research Report