Business Analytics & Visualisation
With the ever growing mass of digital data available in every business, large amount of information remains hidden in the data. This information can now be extracted with the help of data analysis (descriptive analytics) to provide a sound and objective support for forecasting predictions (predictive analytics) and related decisions (prescriptive analytics) in business. Business analytics & visualization is the art and science of extracting information from business data and presenting it with suitable graphical tools to provide a sound and objective basis to the decision process.
This module aims to provide students with the ability to create mathematical models of realistic managerial situations and use them to support the decision process. The module is also intended to give enough foundational concepts, so that students will be in a position to discuss with experts in the field about latest advances and their possible application to solve managerial situations.
Principal Learning Outcomes
By the end of module, students will be able to:
• Know and use the prescriptive analytics terminology in different business settings.
• Demonstrate an understanding of the concepts and methods of prescriptive analytics.
• Identify prescriptive analytics optimization problems in different business settings
• Model optimization problems and choose the right solution methodology.
• Interpret solutions, formulate managerial guidelines and make recommendations.
• Communicate solutions effectively and efficiently to a critical audience of non-specialists.