FIT5097 Business intelligence modelling

When you finish this unit, you should be able to:

1. 1

   Explain a variety of techniques for modelling business decision problems;

2. 2

   Choose the appropriate decision model for a particular problem;

3. 3

   Set up simple models and solve with hand calculations;

4. 4

   Set up mathematical models for solution in a spreadsheet or other application software;

5. 5

   Validate models and conduct a sensitivity analysis;

6. 6

   Analyse a real problem and report the results;

7. 7

   Explain the difficulty of applying models to real situations - which often requires that approximations, simplifications and generalisations be made;

8. 8

   Explain the approximate nature of some types of business modelling and why this usually means that a sensitivity analysis needs to be conducted.