module specification

Data analysis is a top business priority. It drives the opportunity for performance improvement and, with advances in technology, data are generated at an ever increasing rate. As such, it not surprising business data analysis and Excel skills are among the top graduate skills sought by employers today. BA4006, Business Decision Making, responds to these market demands by providing the underpinning skills required to make effective use of the mathematical and statistical methods of data analysis and develops students’ interpretation and reporting skills.

The module introduces data-based decision making and performance measurement and provides students with the practical experience of using Excel to transform data into information. It further introduces students to forecasting and target setting, budgeting and project management. In other words, it provides students with an understanding of the fundamentals of statistical methods for business. In doing so, it provides the skills and knowledge required for levels 5 and 6 modules, including the dissertation, that develop and evaluate the quantitative and qualitative aspects of business management. 

The module also introduces the principles of accounting and finance. Financial statements are interpreted and analysed to review the financial position and condition of a company. Activity-based costing and budgeting methods are introduced to facilitate planning and performance measurement.
  
Overall, this module develops the analytical and communication skills relevant to understanding business Information, with an emphasis on problem-solving techniques in the context of business management, decision making and performance measurement.

Standard University entry requirements

This module is split in to 4 parts.

Part 1 – Numeracy Refresher [6 weeks]
The first part of the module refreshes numeracy skills and lays the quantitative foundation for the subsequent parts. Operations and precedence, expressions, equations, linear functions and breakeven calculations are reviewed. Business mathematics, including percentages, fractions, ratios and index numbers, are covered and students are introduced to the concept of probability in business. LO1

Part 2 – Introduction to Quantitative Techniques [7 weeks]
This part of the module focuses on the processes by which data are transformed into information to provide insights and facilitate decision making. Data sources and survey methods are discussed and students are introduced to Excel for data presentation and the descriptive analysis of ungrouped and grouped cross-sectional data. To examine relationships and future values, correlation, regression and time series analyses are introduced. Whilst this part of the syllabus will be delivered using a combination of pen and paper exercises and Excel activities to familiarise students with the techniques, the focus is on interpretation and the reporting of Excel output and findings. LO2

Part 3 – Quantitative Business Analysis [6 weeks]
Part 3 progresses to specific applications: project management and investment appraisal are introduced, and the impact of compound interest on loans, annuities and investments are considered. Key Performance Indicators, such as: customer lifetime value, retention and churn rates, monthly sales growth, average profit margin, sales conversion rate, repeat purchase volume and employee happiness, are quantified to measure how effectively a company is achieving key business objectives.  LO3

Part 4 – Accounting for Business Managers [7 weeks]
The final part of the module focuses on fundamental financial and accounting principles. Financial statements, such as balance sheets, income statements and cash flows, are introduced and interpreted to consider the financial position of a company, whilst accounting ratios are calculated to review its relative financial condition. Finally, planning and performance measurement are introduced through activity-based costing and budgeting methods. LO4

Learning and teaching are structured around three hours of class contact time per week. The weekly sessions take the form of 3-hour, interactive workshops in a computer lab.

The workshops introduce students to the theories and methods and adopt a problem-focused approach to learning. Sessions are designed to facilitate learning through individual and collaborative practical activities, interpretation and reporting exercises, discussions and presentations, and 360-degree feedback. 

Students will receive module material, including weekly session notes, presentation slides, exercises and computer activities via WebLearn. The computer-based tasks are blended into the weekly activities: students will be using Microsoft Excel to enter and analyse quantitative and financial or accounting data and Microsoft Word to report the findings. A range of tasks are completed in class, though others are completed outside formal contact hours.

In addition to pen and paper exercises and Excel-, or Word-based activities, tasks take a variety of forms, including online research, working with statistical applets and participating in, and interaction with, Mentimeter games (Voting, Word Cloud, etc.), Kahoot quizzes, or similar activities.  It is expected that for every 3-hours spent in the workshop, students spend a further 7 hours a week on independent study. A total of 30 hours is allocated for assessment preparation. 

Reflective learning is incorporated into the module and students are advised to keep a journal of experiences and personal development to analyse and reflect on the effectiveness of their learning.

On completing the module, students should be able to:

LO1:  use Excel to transform data into information to facilitate business decision making; 

LO2: appreciate the role of quantitative business analysis in planning and performance measurement;

LO3:  understand and interpret financial statements and appreciate the principal activities of cost accounting to inform financial decision-making;

LO4:   have a wide range of IT, research, and data analysis skills.

Recommended Textbook: Quantitative Techniques and Business Analysis
Oakshott L. (2016) ‘Essential Quantitative Methods for Business, Management and Finance’, 6th Edition, Palgrave

Recommended Textbook: Accounting For Business Managers
Carey M., Knowles C. and Towers-Clark J. (2017) ‘Accounting: A Smart Approach’, 3rd Edition, Oxford University Press

Additional Reading
Waters, D. (2011) ‘Quantitative Methods for Business’, 5th Edition, FT Prentice Hall, Pearson
Swift, L. and Piff, S. (2014), ‘Quantitative Methods for Business, Management and Finance’, 4th Edition, Palgrave Macmillan
Dyson, J. R. and Franklin, E. (2017) ‘Accounting for Non-Accounting Students’, 9th Edition, Pearson
Weetman P. (2015) ‘Financial and Management Accounting. An Introduction’, 7th Edition, Pearson
Farris, P. W., Bendle, N. T., Pfeifer, P. E. and Reibstein, D. J. (2016) ‘Key Marketing Metrics: The 50+ metrics every manager needs to know’, 3rd Edition, Pearson

Websites
BA4006 WebLearn module
Bloomberg – European Edition, https://www.bloomberg.com/europe
Reuters. Edition: United Kingdom, https://uk.reuters.com/
Rice Virtual Lab in Statistics (simulation applets, interactive multimedia course, cases and more): http://onlinestatbook.com/rvls.html
Other
Google’s Chief Economist, Hal Varian, on the Importance of Statistics and Data: https://www.mckinsey.com/industries/high-tech/our-insights/hal-varian-on-how-the-web-challenges-managers
Online Statistics Education: A Multimedia Course of Study (http://onlinestatbook.com/), Project Leader: David M. Lane, Rice University. Free statistics Textbook (pdf version): http://onlinestatbook.com/Online_Statistics_Education.pdf
London Metropolitan University Harvard Style Referencing guide: http://student.londonmet.ac.uk/library/subject-guides-and-research-support/referencing-and-copyright/referencing/