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Unit of study_
QBUS6820: Prescriptive Analytics: From Data to Decision
2024 unit information
Prescriptive analytics is concerned with using quantitative tools to turn data into managerial and operational decisions, in both deterministic settings and under risk. This unit introduces mathematical optimisation modelling, with applications to problems in management, logistics, economics, science and engineering. Students will learn techniques for rigorously formulating complex decision-making problems as mathematical models, state-of-the-art computational tools to solve the models, how to incorporate measures of risk into models, and how to interpret outputs of models in the relevant decision-making context. It is expected that students have a good understanding of fundamental data analytics concepts such as vectors, matrices, probability, and the Python programming language.
Unit details and rules
Managing faculty or University school:
Business Analytics
| Code | QBUS6820 |
|---|---|
| Academic unit | Business Analytics |
| Credit points | 6 |
|
Prerequisites:
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ECMT5001 or QBUS5001 |
|---|---|
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Corequisites:
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BUSS6002 |
| Prohibitions:
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None |
| Assumed knowledge:
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Vectors, matrices, probability, Python |
At the completion of this unit, you should be able to:
- LO1. select between prescriptive analytic models according to the business context
- LO2. create prescriptive analytic models for decision-making
- LO3. make decisions based on model outputs
- LO4. use software tools to analyse and solve models
Unit availability
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Modes of attendance (MoA)
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