James Cook University Subject Handbook - 2024

MA5840 - Data Science and Strategic Decision Making for Business

Subject Description

Businesses typically collect large volumes of data with relative ease. However data are often meaningless until they are analysed for trends, patterns and relationships and then become useful information. This subject is designed to provide an integrated knowledge for understanding and managing information resources, building basic business intelligent system, interpreting business statistics, and developing practical decision models. It will equip students with decision-making tools and illustrate their applications. Acting on information to develop solutions and support decision-making is a key business skill.

Learning Outcomes

• critically evaluate information as an organisational resource and identify issues in managing data/information/knowledge
• apply graphical and numerical tools for organising, analysing, interpreting, and presenting data
• design, build and test computer based models for planning, decision making and control of business problems, Interpret model results, and make recommendations to stakeholders
• demonstrate the ability to integrate the knowledge of data science and associated tools with the knowledge of accounting and finance

Subject Assessment

• Written > Literature review - (35%) - Individual
• Written > Project report - (35%) - Individual
• Problem task: 25 Self-reflection task:5% - (30%) - Individual

Note that minor variations might occur due to the continuous subject quality improvement process, and in case of minor variation(s) in assessment details, the Subject Outline represents the latest official information.

Availabilities