MSc/PgDip/PgCert Business Analysis & Consulting (Online)

This class will explore the generic problem solving process which underpins the provision of decision support. In particular, it'll consider the role of modelling in that process. The activities of problem structuring, data collection and analysis, identification and evaluation of options, communication and implementation of learning, findings and recommendations will each be discussed along with the issues pertaining to each of them.

Quantitative Business Analysis runs over one semester but in two parts. The first part provides an introduction to the basic theory and application of statistical modelling. Topics covered included data analysis, probability theory, distributions and moments, estimation and hypothesis testing.

The second part focuses mainly on two areas - regression modelling and multivariate analysis. While key background theory will be presented, the emphasis is on the generation and interpretation of output from commercially available software.

Background reading for Quantitative Business Analysis

This module will demonstrate how spreadsheets can be used to support the analytical techniques whose theory is taught on other modules. For example, forecasting, simulation, optimisation, data analysis, as well as being used to support technical report writing.

Most prominence is given to demand forecasting and you'll be introduced to different types of forecasting technique for short term smoothing through to decompositional analysis. These methods will be implemented using spreadsheet models.

The module will focus on the main two forms of business simulation; discrete-event simulation (DES) and system dynamics (a continuous simulation technique). For DES, the class will start with an introduction, aiming to familiarise students with the concept and its use.

It continues with discussing a rational approach to simulation using a number of examples from manufacturing and service operations. For system dynamics the class will provide a background to system dynamics including its links to other modelling techniques being taught on the course, in particular, its links to problem structuring methods.

This module will explore the entire process of structuring a risk problem, from modelling it to communicating recommendations, both theoretically and in practice.

Risk management is linked with decision analysis in so far as we explore decision making under uncertainty and it has links with quantitative business analysis as we explore the use of statistics in understanding risk. However, the topic has some unique attributes such as risk communication and the role that experts play in risk assessment.

The class adopts a process-based approach, ie all discussion follows the logic of the business processes. You'll be introduced to Business and Information Systems (BIS) as well as the various types of IS, including the databases, Enterprise Resource Planning (ERP) systems, knowledge-based systems, corporate portals and collaboration support systems.

Lectures will provide you with the conceptual knowledge, and in tutorials you'll gain hands-on experience of using packages of the various IS categories.

The class focuses at the strategic, organisational level of PMM while providing the essential knowledge and skills at the technical level.

The module starts with presenting the background to performance measurement to provide you with an understanding of the roots of some of the common problems in measuring and managing performance in organisations. This will follow with discussing PMM from five different but highly inter-related perspectives, namely stakeholder, customer, comparative, operations and integrative perspectives.

The class will consist of three key elements:

1. A series of semi- or unstructured business problems, typically introduced by a manager from an outside organisation. The business problems will typically relate to a topic/technique recently covered in one of the other modules.

2. Experience is augmented, and integrated with, the rest of the course by a series of workshops on directly related topics that will provide guidance on key skills development.