FIT5097 - Business intelligence modelling - 2019

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.

On completion of this unit, students should be able to:

1. explain a variety of techniques for modelling business decision problems;
2. choose the appropriate decision model for a particular problem;
3. set up simple models and solve with hand calculations;
4. set up mathematical models for solution in a spreadsheet or other application software;
5. validate models and conduct a sensitivity analysis;
6. analyse a real problem and report the results;
7. explain the difficulty of applying models to real situations - which often requires that approximations, simplifications and generalisations be made;
8. explain the approximate nature of some types of business modelling and why this usually means that a sensitivity analysis needs to be conducted.

NOTE: From 1 July 2019, the duration of all exams is changing to combine reading and writing time. The new exam duration for this unit is 2 hours and 10 minutes.

Examination (2 hours and 10 minutes): 60%; In-semester assessment: 40%

Minimum total expected workload equals 12 hours per week comprising:

1. Contact hours for on-campus students:
   • Two hours of lectures
   • One 2-hour laboratory
2. Additional requirements (all students):
   • A minimum of 8 hours independent study per week for completing lab and project work, private study and revision.

See also Unit timetable information

Data science