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Unit of study_
SMBA6003: Data Analytics and Modelling
2023 unit information
One of the most significant developments associated with the digital revolution is the increased availability of data. For managers and leaders in contemporary organisations, the ability to effectively analyse and draw useful inferences from data is critical. It is also important that managers can communicate complex interrelationships found in the data to senior management in a way that maximises the possibility that it can lead to favourable and sustainable change. Access to and use of data is critical to organisations in their need to effectively respond to a more volatile economic and financial environment, and Government intervention and regulation. Superior data analytic and modelling capabilities are increasingly seen as a source of competitive advantage, both for business and for employees working within business. This unit of study can deliver this competitive advantage in at least six distinct ways - (1) it will reveal the type of "internal" data that an organisation must compile for effective decision making; (2) it will identify the "external" data that must be used in combination with the internal data, and where that external data is sourced; (3) it will analyse the tools and modelling techniques that can be used to draw timely and relevant insights from a range of different forms of data; (5) it will examine how these tools and modelling techniques can be practically applied across a range of organisational settings; and (6) it will demonstrate how any findings should be communicated to time-poor senior management. As part of this unit of study, students will be given the opportunity to work with real-world data sets and case studies, and to apply those data sets to their own and other organisations.
Unit details and rules
Managing faculty or University school:
Management Education
| Code | SMBA6003 |
|---|---|
| Academic unit | Management Education |
| Credit points | 6 |
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Prerequisites:
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None |
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Corequisites:
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SMBA6001 |
| Prohibitions:
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None |
| Assumed knowledge:
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None |
At the completion of this unit, you should be able to:
- LO1. demonstrate and identify (1) the data a business needs to solve complex problems, (2) the key drivers of the demand for a business' product, (3) whether profitability increases in response to an increase in price or output and how this relates to the price elasticity of demand, (4) the key interrelationships between external and internal variables that are pivotal to understanding the business' risk and the management of those risks
- LO2. quantify the impact of critical drivers that are external to the company, such as GDP, exchange rates, commodity prices and inflation, on revenue and cost streams and use this information for risk management purposes by utilising key statistical tools such as descriptive statistics, regression and simulation analysis
- LO3. communicate complex ideas more effectively to senior management, determine the communication styles that senior management prefer, draw more effective graphical relationships between variables, construct a more effective powerpoint presentation, deliver a presentation that is more likely to be preferred by senior management and construct the most effective sequence of material in a presentation to generate the maximum amount of positive impression from senior management
- LO4. collaborate more effectively with colleagues and peers to solve complex data-related problems.
Unit availability
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There are no availabilities for this year.
Modes of attendance (MoA)
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