Business intelligence and analytics have become one of the most powerful tools available to retailers in an increasingly competitive world, given the vast increase in the quantity of data. Analytics is a subset of business intelligence and has been defined as “the extensive use of data…and fact based management to drive decisions and actions” (Davenport and Harris 2007, pg. 7). This module is designed to introduce to introduce the student to the field of business intelligence and analytics. The learner will develop an understanding of its importance, the practical use of analytical tools and their analysis to aid business decisions.
Introduction to Data Analytics
Understanding data analytics; customer centric data analytics; the business case for data analytics; understanding how data analytics can solve business problems; pitfalls to avoid.
The importance of data analytics in business
The importance of data analytics in business with a focus on retail environments
Data Preparation
Understanding data; data quality; data preparation.
Levels of Analytics
Analytical maturity of organisations at four levels - increasing levels from descriptive, predictive, prescriptive, to autonomous
Analytical Tools and techniques
Hands – on applied use of analytical tools and techniques, including MS Excel and spreadsheet/ business analysis models.
Key Performance Indicators (KPI'S)
Key Performance indicators in business, applied to the analytics levels, focusing on retail contexts utilising Excel and SPSS at increasing levels of maturity
Data Visualisations
Visualising data including histograms, boxplots, scatter plots, grouped bar charts.
Business Decision Making
Making management decisions supported by business analysis and use of analytical tools and techniques
The module will incorporate a range of teaching and learning methods including lectures, class discussion and computer lab work. The learning environment will be practical, integrative and hands on.
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 40 |
| Other Assessment(s) | 60 |