Business Analytics

Data Management and Risk Analysis: As customers' demands and environmental conditions change rapidly, businesses need to be able to respond to these changes promptly. It is therefore imperative that a business can manage data in a relational database system and turning data into information for business decision-making to keep abreast of these changes while mitigating the risks businesses face. This intermediate-level course provides students with a comprehensive view of the business data lifecycle and quantitative analytic skills. Topics include information on data presentation and modeling, and managing data assets for large organizations. Furthermore, students are introduced to an overview of the risks businesses face and the procedures and theories applicable to assess and mitigate these risks. Risk analysis is a highly-valued skill set and is sought by organizations involved in project management, insurance, financial services and within the public sector. Risk management is the decision-making process that helps such organizations understand risk and assure the achievement of their goals. This course is intended to provide an understanding of risk analysis with application and discussion of the risk management practices.

Business Forecasting and Optimization: Since economic conditions vary over time, changes in the business environment make it necessary to review and evaluate business decisions. Business decision-makers must find ways to keep dealing with those changes. For instance, a chief financial officer is primarily concerned with sales, profits, and stock prices. Forecasting is used to predict future events, or conditions and the forecasting process allows business decision-makers to make better predictions and decisions with lower risk. Today, many successful firms have taken advantage of business data analysis methods to improve their business decisions. Comprehensive forecasting methods are essential to finding the best decision for a company’s success. This course is designed to provide students with an understanding of and practice with the forecasting process and the optimizing methodologies for the real-world business environment. In the first half of the course, students will build the advanced time series models through an in-depth examination of various modern forecasting techniques used in economics. Students will also be given hands-on experience in various forecasting software. Students will learn how to use various forecasting techniques and how to extract information from data. In the second half of the course, students will study how to optimize for the most effective solution among the alternatives.  Students will practice linear and non-linear optimization problems involving real-world data. In this course, students will develop algorithms and algebraic models to select the optimal decision alternative. This course is about developing decision models to set up, analyze, and solve business problems.

What courses would I take in this minor? What opportunities outside of the classroom would benefit me?