We currently provide consultations for the following Business Analytics modules offered to undergraduates:
1) DSC1007/1007X Business Analytics-Models and Decisions
We are now at the era of big data. Companies are able to collect tremendous amount of data, very often more than necessary, with ease. “Information is Power” is no longer valid if companies are not able to make correct decision timely out of the data. The use of business analytics for modelling and decisions represents the future of best practices for tomorrow’s success companies.
This course prepares students with fundamental theory and basic instruments to capture business insights from data and thus make good managerial decisions. Quantitative models and tools such as Decision Analysis, Simulation Modelling and Mathematical Optimisation are covered to demonstrate the use of scientific methods in business decision making. Practical examples and cases with rich data are used to stimulate students’ interest and understanding in Business Analytics.
For more details on DSC1007 click here!
2) DSC2008 Business Analytics-Data and Decisions
“Most companies today have plenty of data. However, creating intelligence and gleaning real insights from this data is what continues to elude organisations.” – Competing on Analytics: The New Science of Winning.
Business decisions are often made under uncertainty. In the modern business environment, technological advances facilitate the collection of huge amounts of data, which can potentially improve the decision-making process. Successful businesses make use of Business Analytics and Business Intelligence, which are fundamentally based on quantitative statistical methods and optimisation procedures, to identify patterns and trends in their data, which eventually lead to realistic predictions and insightful strategies.
The sister module, DSC1007 Business Analytics—Models and Decisions (Business Analytics I), focuses on models and processes. This module is more concerned with data and tools, and introduces students to the fundamental concepts of statistical inference such as parameter estimation and hypothesis testing, as well as to statistical tools useful in business analytics, such as regression analysis and time series forecasting. This continues the theme of delivering hands-on experience in modules focusing on analytics and operations.
This module was co-designed, and is co-taught, by the Department of Decision Sciences in the NUS Business School and the Department of Statistics and Applied Probability in the Faculty of Science, to draw upon the relevant expertise from the two Departments.
The module provides all BBA students with a common statistical grounding for Business Analytics, upon which specialisation may be built depending on each student’s chosen field. For the truly visionary student, a natural follow-on could in time be the NUS MSc(Business Analytics), or MSBA, http://facebook.com/groups/nusmsba . Biz undergrads may take some MSBA classes (see http://msba.nus.edu); e.g. BMA5002 is an extension of DSC2008, while BDC5101 is of DSC1007.
For more details on DSC2008, click here!