Modelling & Analysis for Management
Programme contentThis module introduces you to the ideas of modelling and to the relevance of modelling for management. You will consider a variety of approaches that are commonly used in a business and management environment.
As a manager, you must be able both to extract information from data for decision-making and to think analytically about problems in situations where there is uncertainty or incomplete information. This module will help you understand a variety of means in which data may be processed in order to make usable decision-making information.
The module's emphasis is upon you being a critical consumer of quantitative information and quantitative modelling. You will look at the context and process of modelling rather than the technicalities underlying specific modelling approaches. You will examine some modelling approaches in detail as well as consider the interpretations placed upon the output of the models.
You will use case studies to examine how models may be used and how they may be employed. You will learn to understand the importance of, and benefits to be gained from, modelling for management.
Topics usually covered include:
- The nature of modelling and the modelling process
- Problem structuring
- Model validation
- Sampling, and the accuracy of sample information
- The relevance of modelling relationships in data analysis
- Forecasting
- The use of simulation in business
- The role of linear programming.
By the end of this module you will be able to:
- Brief specialist modellers to achieve specific outcomes
- Interpret data reports, and act upon their information.
There are opportunities to further explore this area in the elective modules listed below.
| Efficiency Analysis & Business Decisions |
| Managing Complexity |
