Course Title: Predictive and Prescriptive Analytics in Business

Part A: Course Overview

Course Title: Predictive and Prescriptive Analytics in Business

Credit Points: 12.00


Course Coordinator: Dr Yee Ling Boo

Course Coordinator Phone: +61 3 9925 5694

Course Coordinator Email: yeeling.boo@rmit.edu.au

Course Coordinator Location: Melbourne City Campus

Course Coordinator Availability: By appointment


Pre-requisite Courses and Assumed Knowledge and Capabilities

None.


Course Description

This course introduces you to the concepts and techniques using data in predictive and prescriptive analytics to make operational, tactical and strategic decisions in business settings. s decisions or a strategy. You will also learn how to interpret prediction outcomes, and their limitations and level of accuracy as well as communicating decisions and recommendations with ethical considerations.   


Objectives/Learning Outcomes/Capability Development

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On successful completion on this course, you will be able to:

CLO1. Justify the use of predictive analytics by identifying and addressing authentic problems in business.

CLO2. Justify the use of prescriptive analytics by identifying and addressing authentic problems in business.

CLO3. Develop and interpret predictive models for business scenarios using appropriate tools and techniques.

CLO4. Develop and interpret prescriptive decision models for business scenarios using appropriate tools and techniques.

CLO5. Recommend and communicate data driven decisions to stakeholders, acknowledging ethical considerations.


Overview of Learning Activities

This course uses highly structured learning activities to guide your learning process and prepare you for your assessments. The activities are a combination of individual, peer-supported and facilitator-guided activities, and where possible project-led, with opportunities for feedback throughout.

Authentic and industry-relevant learning is critical to this course and you will be encouraged to critically compare and contrast what is happening in your context and in industry, and to use your insights.

Social learning is another important component and you are expected to participate in class and group activities, share drafts of work and resources and give and receive peer feedback. You will be expected to work efficiently and effectively with others to achieve outcomes greater than those that you might have achieved alone.

Above all, the learning activities are designed to maximize the likelihood that you will not only understand the course learning resources but also apply that learning to improving your own practice, for example by producing real-world artefacts and engaging in scenarios and case studies.


Overview of Learning Resources

Each learning activity contains the core resources, such as videos, podcasts, readings, templates, articles, industry tools and/or communities that you need to complete that activity, or links to those resources.

Additional learning resources designed into the course, will be clearly marked as supplemental. If your course teaching team finds additional resources during course delivery which they think can support or be of interest to the class cohort, these will be made available as required during the teaching period.

In your class environment, besides your learning activities you will also find:

  • All assessment briefs.
  • A course information page with a study schedule.
  • Various communication tools to facilitate collaboration with your peers and facilitators, and to share information.

Learning Resources are also available online through  RMIT Library databases, subject guides, and other facilities. Assistance with referencing, study support, finding computers and study spaces is available at the RMIT library Study website. If you require assistance with the RMIT library facilities contact Ask the Library.


Overview of Assessment

The assessment tasks, their weighting and the course learning outcomes to which they are aligned are as follows:

Assessment Task 1: 30%

Linked CLOs: 1, 3, 5

 

Assessment Task 2: 30%

Linked CLOs: 2, 4, 5

 

Assessment Task 3: 40%

Linked CLOs: 1, 2, 3, 4, 5


Feedback will be provided throughout the semester in class and/or in online forums through individual and group feedback on practical exercises and by individual consultation.