FIT5097 - Business intelligence modelling

Leader(s): Ms Poh Hong Lim

Offered

Caulfield First semester 2009 (Day)

Synopsis

This unit introduces students to the principles, techniques and applications of computer-based decision support models for business and industry. Topics include: decision trees; linear programming and optimisation; other mathematical programming methods; waiting lines and queues; time series analysis and forecasting; inventory modelling and discrete-event simulation. Models will be built and solved using spreadsheets or other computer applications as appropriate.

Objectives

At the conclusion of this unit students will:

1. have knowledge of a variety of techniques for modelling business decision problems;
2. be able to choose the appropriate decision model for a particular problem;
3. have skills in setting up simple models and solving with hand calculations;
4. have skills in setting up mathematical models for solution in a spreadsheet or other application software;
5. have skills in the validation of models and conducting a sensitivity analysis;
6. have skills in analysing a real problem and reporting the results;
7. understand the difficulty of applying models to real situations, which often requires that approximations, simplifications and generalisations be made;
8. understand that the approximate nature of some types of business modelling means that a sensitivity analysis be conducted.

Assessment

Examination (3 hours): 70%; Assignments: 30%

Contact hours

4 hrs/week

Prerequisites

At least one quantitative unit (such as Mathematics or Statistics) in an undergraduate degree.

Prohibitions

BUS5570

Additional information on this unit is available from the faculty at:

http://www.infotech.monash.edu.au/units/fit5097