FIT5097 Business intelligence modelling
Faculty of Information Technology
FIT5097 Business intelligence modelling is a level 5, 6-credit-point, postgraduate unit from the Faculty of Information Technology, offered in 2021 in Semester 2 at Clayton. It has no prerequisites.
- Credit points
- 6
- Offered in 2021
- Semester 2
- Clayton
- Assessment
- Exam 60%
- and 4 other tasks
- Workload
- 144 hours
- per semester
This is the 2021 handbook entry. See the 2022 entry.
Reviews
No reviews yetNo reviews yet. Be the first to review FIT5097.
Requisites
Before FIT5097
Prohibitions
You can't enrol if you have passed any of these.
After FIT5097
No unit lists FIT5097 as a prerequisite in the 2021 handbook.
Enrolment rules
Prerequisite: At least one quantitative unit (such as Mathematics or Statistics) in an undergraduate degree.
Overview
This unit introduces you 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.
Offerings in 2021
| Teaching period | Campus | Mode |
|---|---|---|
| Second semester | Clayton | On campus |
Assessment
- Tutorial participationParticipationThreshold hurdle6%
- Quiz 1OtherThreshold hurdle2%
- Spreadsheet Modelling AssignmentAssignmentThreshold hurdle30%
- Quiz 2OtherThreshold hurdle2%
- Scheduled final assessment (2 hours and 10 minutes)ExamThreshold hurdle60%
Learning outcomes
When you finish this unit, you 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.
Workload and teaching
- Lectures24 hours
- Laboratories24 hours
- Teaching approachActive learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled online and face to face learning activities and independent study. Independent study may include associated reading and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning and online engagement.
Learning resources
Required resources
Ragsdale C.T. (2018). Spreadsheet Modeling & Decision Analysis . (8th Edition) Thomson
Recommended resources
- Lapin, L. and Whisler , W., Quantitative Decision Making with Spreadsheet Applications 7th Ed., Wadsworth (Thomson Learning) Belmont, 2002 (7 th edition, 2002) or later. (supplementary, main text for inventory models)
- Anderson D., Sweeney D. and Williams T., Quantitative Methods for Business 11th Ed, South-Western College Publishing (Thomson Learning), 2008 or later.
- Winston, W. L. Operations Research: Applications and Algorithms, Duxbury Press, Belmont, 2004 or later.
- Willis, R. J., Business Modelling, Eruditions Publishing, 2000.
Contacts
- Chief Examiners
- Associate Professor David Dowe
Common questions
What are the prerequisites for FIT5097?
FIT5097 has no prerequisites, but enrolment rules apply.
When is FIT5097 offered?
In 2021, FIT5097 runs in Semester 2 at Clayton.
How much work is FIT5097?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does FIT5097 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 4 other tasks.