CB2203Data-driven Business Modeling

What you will study

Course overview

Part II Course Details Abstract This course aims to develop students’ ability to formulate, analyse and solve business problems using data modeling. Real problems that companies encounter on a day-to-day basis are presented, with the aim of helping students derive applicable principles and link principles to practice. The goal of the course is to train students to become effective modellers who can derive data models for solving business problems in various functional areas.

Official PDF, pages 1–2 · Abstract

Course content

Keyword Syllabus Business Modeling and Analysis Data structure for different applications, Data analysis, Business modeling process, Problem formulation, Relationship analysis, Structural “what-if” analyses, Break-even analysis. Multiple Regression Models Concept of linear models, Data analysis using multiple regression models, Model significance. Statistical inferences about regression parameters. Optimization with Excel Solver Optimization, Use of Excel Solver, Sensitivity analysis, Applications include investment problem, inventory problem, optimal product mix, workforce and project scheduling, assignment problem, production planning, transportation problem. Business Analysis through Simulation Simulation, Monte Carlo method, Newsvendor problems, Queueing problems, Overbooking problems.

Official PDF, page 5 · Keyword Syllabus

Intended learning outcomes

View official learning outcomes and conditions

Course Intended Learning Outcomes (CILOs)
               CILOs                                                Weighting (if DEC-A1        DEC-A2          DEC-A3
                                                                    app.)
1              Demonstrate critical thinking skills in              20                 x
               formulating problems with data models from
               the given descriptions of business situations.
2              Apply probabilistic models to incorporate            20                          x
               uncertainty for effective decision making.
3              Use spreadsheet and computer software for data 20                                x
               analysis and model building.
4              Interpret information and numerical data from        20                          x
               analysis and model output.
5              Produce structured, well-organised and fluent         20                                          x
               text in communicating problem, analysis and
               findings to non-specialists.

A1: Attitude
Develop an attitude of discovery/innovation/creativity, as demonstrated by students possessing a strong sense of curiosity,
asking questions actively, challenging assumptions or engaging in inquiry together with teachers.

A2: Ability
Develop the ability/skill needed to discover/innovate/create, as demonstrated by students possessing critical thinking skills
to assess ideas, acquiring research skills, synthesizing knowledge across disciplines or applying academic knowledge to
real-life problems.

A3: Accomplishments
Demonstrate accomplishment of discovery/innovation/creativity through producing /constructing creative works/new
artefacts, effective solutions to real-life problems or new processes.

Official PDF, page 2 · Course Intended Learning Outcomes (CILOs)

Before you take this course

Check prerequisites, precursors and corequisites separately, together with equivalence and exclusion conditions. “and” means conditions must be met together; “or” marks alternatives. Read combined conditions in the groupings shown in the original text below.

Prerequisites

Nil

Official PDF, page 1 · Prerequisites

Precursors

CB2200 Business Statistics; or MA2172 Applied Statistics for Sciences and Engineering or equivalent

Official PDF, page 1 · Precursors

Corequisites

Complete official information for this field is not available.

Additional course requirements

Complete official information for this field is not available.

Equivalent courses and conditions

Nil

Official PDF, page 1 · Equivalent Courses

Exclusive courses and conditions

MS3261 Business Modeling with Spreadsheets CB2011 Solving Business Problems with Spreadsheet Modeling

Official PDF, page 1 · Exclusive Courses

Assessment and passing the course

Assessment

Continuous assessment: 50%; Examination: 50%; Examination duration: 2 hours

Assessment breakdown

Assessment task	Weight	Generative AI	Remarks and restrictions
AssignmentsCILO 1, 2, 3, 4, 5	20%	Yes	The assignments are designed to help students practise their problem-solving skills and obtain hands-on experience using spreadsheet modeling tools.
QuizzesCILO 1, 2, 3, 4	30%	Yes	The quizzes are designed to assess students’ ability in problem formulation and business modeling.

Official PDF, page 3 · Assessment Tasks / Activities (ATs)

View the original assessment table and instructions

Assessment Tasks / Activities (ATs)
                        ATs                  CILO No.            Weighting (%)            Remarks ("-" for   Allow Use of
                                                                                          nil entry)         GenAI?
1                       Assignments          1, 2, 3, 4, 5        20                      -                  Yes
                        The assignments
                        are designed to
                        help students
                        practise their
                        problem-solving
                        skills and
                        obtain hands-
                        on experience
                        using spreadsheet
                        modeling tools.
2                       Quizzes            1, 2, 3, 4             30                      -                  Yes
                        The quizzes
                        are designed to
                        assess students’
                        ability in problem
                        formulation and
                        business modeling.

Passing requirements

This edition of the official syllabus does not state this item.

Official PDF, pages 3–5 · Passing Requirements