General Information
This subject develops the student’s facility for evidence-based decision making, by introducing students to the use and application of data. As the business world has increasing access to data, and in the availability of big data sets which allow greater understanding of customers and other business related data, effective use of the data will enable decisions to become more informed. This subject will consider the role of data in an evolving business system, discuss and review common sources of data and processes for developing superior data sets, and will introduce the quantitative methods that are needed for understanding what the data tells us re the decision we need to make. It develops an understanding of modern computational methods to solve quantitative problems in business decision making, using a case-based approach to using data.
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Details
Academic unit: Bond Business School Subject code: BMBA71-301 Subject title: Data Analytics for Decision Making Subject level: Postgraduate Semester/Year: May 2023 Credit points: 10.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Online Workload items: - Directed Online Activity: x12 (Total hours: 24) - Webinar 1
- Directed Online Activity: x12 (Total hours: 24) - Webinar 2
- Directed Online Activity: x12 (Total hours: 18) - Pre-recorded content
- Personal Study Hours: x12 (Total hours: 54) - Recommended study time & reviewing materials
Attendance and learning activities: Participation in all scheduled sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. -
Resources
Prescribed resources: No Prescribed resources.
After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.iLearn@Bond & Email: iLearn@Bond is the Learning Management System at Bond University and is used to provide access to subject materials, class recordings and detailed subject information regarding the subject curriculum, assessment, and timing. Both iLearn and the Student Email facility are used to provide important subject notifications.
Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
| Academic unit: | Bond Business School |
|---|---|
| Subject code: | BMBA71-301 |
| Subject title: | Data Analytics for Decision Making |
| Subject level: | Postgraduate |
| Semester/Year: | May 2023 |
| Credit points: | 10.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Online |
| Workload items: |
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| Attendance and learning activities: | Participation in all scheduled sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. |
| Prescribed resources: | No Prescribed resources. After enrolment, students can check the Books and Tools area in iLearn for the full Resource List. |
|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the Learning Management System at Bond University and is used to provide access to subject materials, class recordings and detailed subject information regarding the subject curriculum, assessment, and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au |
Enrolment requirements
| Requisites: |
Nil |
|---|---|
| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
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| Restrictions: |
Nil |
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Computer-Aided Examination (Open) Final Examination/Project 50.00% Final Examination Period 1,2,3,4,5 Computer-aided Test (Closed) Minor Projects/Tests 20.00% Week 1 1,2,3,4,5 Case Analysis§ Project 30.00% Week 11 1,2,3,4,5 - § Indicates group/teamwork-based assessment
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
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Assessment criteria
Assessment criteria
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Computer-Aided Examination (Open) | Final Examination/Project | 50.00% | Final Examination Period | 1,2,3,4,5 |
| Computer-aided Test (Closed) | Minor Projects/Tests | 20.00% | Week 1 | 1,2,3,4,5 |
| Case Analysis§ | Project | 30.00% | Week 11 | 1,2,3,4,5 |
- § Indicates group/teamwork-based assessment
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
Assessment criteria
| High Distinction | 85-100 | Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. |
|---|---|---|
| Distinction | 75-84 | Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. |
| Credit | 65-74 | Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. |
| Pass | 50-64 | Usually awarded to students whose performance meets the requirements set for work provided for assessment. |
| Fail | 0-49 | Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. |
Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Study Information
Submission procedures
Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless the Lead Educator grants an extension. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Academic Integrity
Bond University‘s Student Code of Conduct Policy , Student Charter, Academic Integrity Policy and our Graduate Attributes guide expectations regarding student behaviour, their rights and responsibilities. Information on these topics can be found on our Academic Integrity webpage recognising that academic integrity involves demonstrating the principles of integrity (honesty, fairness, trust, professionalism, courage, responsibility, and respect) in words and actions across all aspects of academic endeavour.
Staff are required to report suspected misconduct. This includes all types of plagiarism, cheating, collusion, fabrication or falsification of data/content or other misconduct relating to assessment such as the falsification of medical certificates for assessment extensions. The longer term personal, social and financial consequences of misconduct can be severe, so please ask for help if you are unsure.
If your work is subject to an inquiry, you will be given an opportunity to respond and appropriate support will be provided. Academic work under inquiry will not be marked until the process has concluded. Penalties for misconduct include a warning, reduced grade, a requirement to repeat the assessment, suspension or expulsion from the University.
Feedback on assessment
Feedback on assessment will be provided to students according to the requirements of the Assessment Procedure Schedule A - Assessment Communication Procedure.
Whilst in most cases feedback should be provided within two weeks of the assessment submission due date, the Procedure should be checked if the assessment is linked to others or if the subject is a non-standard (e.g., intensive) subject.
Accessibility and Inclusion Support
Support is available to students where a physical, mental or neurological condition exists that would impact the student’s capacity to complete studies, exams or assessment tasks. For effective support, special requirement needs should be arranged with the University in advance of or at the start of each semester, or, for acute conditions, as soon as practicable after the condition arises. Reasonable adjustments are not guaranteed where applications are submitted late in the semester (for example, when lodged just prior to critical assessment and examination dates).
As outlined in the Accessibility and Inclusion Policy, to qualify for support, students must meet certain criteria. Students are also required to meet with the Accessibility and Inclusion Advisor who will ensure that reasonable adjustments are afforded to qualifying students.
For more information and to apply online, visit BondAbility.
Additional subject information
A peer-evaluation system will be used in this subject to help determine the individual marks for all group assessments. As part of the requirements for Business School quality accreditation, the Bond Business School employs an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Subject curriculum
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Introduction to Data Analytics and Big Data
What are data analytics and big data, the role of data analytics, descriptive statistics (graphical and numerical) and the role of ethics?
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Probability and Discrete Probability Distributions
Usefulness of probability concepts in business, basics of probability, discrete random variables, expectation, variance.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Continuous Probability Distributions
Continuous random variables, normal distribution.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Sampling and Sampling Distributions
Types of data, sampling techniques, distribution of the sampling mean.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Confidence Intervals and Hypothesis Testing
Confidence intervals for the mean, hypothesis testing for the mean.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Linear Regression
Simple and Multiple Linear Regression - introduction to the theory and application.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Regression with Categorical Dependent Variables
Linear Probability Model and Logistic Regression.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Classification
Big Data classification techniques.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Clustering
Big Data clustering techniques.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making
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Project Evaluation
How to evaluate big data projects as managers.
SLOs included
- Understand the role of data in evidence based decision making
- Examine the systems by which data is or can be made available
- Possess an understanding of measurement issues and processes for understanding relationships based on statistical theory
- Apply modern quantitative tools (Microsoft Excel) to data analysis in a business context
- Analyse and interpret data to provide meaningful information to assist in decision making