Predictive Analytics

Unit code: BCO3005 | Study level: Undergraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
City Campus
VU Brisbane
Prerequisites
BCO2009 - Big Data and Machine Learning in Business
(Or equivalent to be determined by unit coordinator)
Overview
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Overview

Develop your knowledge to use statistical tools and machine learning techniques to predict future outcomes in a data-rich business environment.


The unit will provide you with the skills to predict future events and trends in income, market share, market growth and the possibility of losses. You will learn:

  • to use historical data to predict future events.
  • to develop statistical models for decision making
  • how to use tools and techniques for predictions
  • how to use statistical software for analysis


The learning tools set out in the unit consist of industry-based case studies, exercises and scenario-based analysis, which will equip you to identify data, and problems and provide solutions by using the right tools for predictions.

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Investigate the application of sources of information, including social data, unstructured text and large data sets to provide greater insight into business;
  2. Critically analyse the data and use it to report future trends and predict future outcomes;
  3. Diagnose business problems and create predictive analytics solutions using statistical tools and software for implementation;
  4. Evaluate and recommend the use of quantitative tools and classification of predictive models; and,
  5. Collaborate and coordinate in teams to evaluate the appropriateness, validity of models and interpret and report results to stakeholders of the business.

Assessment

For Melbourne campuses

Assessment type: Test
|
Grade: 20%
Predict trends and future outcomes using statistical tools
Assessment type: Assignment
|
Grade: 40%
Predictive analysis using historical business data and statistical modelling (group)
Assessment type: Case Study
|
Grade: 40%
Assessing a data-driven future event

Required reading

Resources will be provided through VU Collaborate.

As part of a course

This unit is not compulsory for any specific course. Depending on the course you study, this unit may be taken as an elective.

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