GRA 4149 Value Added Analytics
GRA 4149 Value Added Analytics
This course will focus on the value of analytics from two perspectives. First it will cover the financial implications of conducting business analytics and focus on where there is value to be generated. Secondly it will use the "Analytics Lifecycle" and focus on developing an analytics culture. With the vast increase in available data for analysis, it is easy to lose focus on what actually drives business value. Although business analytics may improve the understanding of business phenomena and even improve decision making, but at the end of the day does it generate value, either to shareholders or the society at large.
Students will use the theory and models discussed in the course and write up several case reports from previous and new analytics problems they have encountered in order to analyse the financial value and implementation issues.
Before an analysis takes place, what are the financial metrics relevant to evaluate. How will the outcome of the analytics flow through to the profit and loss statement of the company?
After having completed this course, students will learn more about the implementation aspects of an analytics problem and also the relevant models to analyse the financial aspects.
Learning what a business case should consist of and what international companies do in this respect is also part of the course.
Students will obtain specific skills in utilising the "Analytics Lifecycle" for implementation and evaluation.
Students will also learn the skill of documenting an analytics project in the form of a business case to focus on sustainable profitability.
Specifically, students will learn how to estimate revenue and costs for analytics projects and also how to evaluate the risk and to calculate the value. An important part is building a business case to underpin the relevant choices, as this has become a typical structure larger, international corporations use.
Without any value, analytics is just data. Reflecting on who the analytics project generates value for will is an important part of any business analytics or digital initiative. The students will learn how to reflect around an analytics decision and to determine what is meant by value-added. Critically evaluating value to owners and other interested parties is important knowledge. Critically evaluating the data used is also an important aspect of value added analytics.
- Analytics Lifecycle
- Learning the structure of a business case
- Developing a Business Case for analytics projects
- What is meant by the term value
- Sequential model for value based decision making
- Quantifying risk
- Valuing flexibility in decisions
- Business case formats in international companies
- Implementation issues of business analytics
- Evaluation of analytics projects for future learning
As the course is delivered online, students are expected to participate actively through the digital tools provided. Students will be provided with cases and also use cases from their own experience throughout the masters degree and write up business cases using the Analytics Lifecycle model.
Relevant digital tools previously used will be required.
All parts of the assessment must be passed in order to get a grade in the course.
All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have spesific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.
Covid-19
Due to the Covid-19 pandemic, there may be deviations in teaching and learning activities as well as exams, compared with what is described in this course description.
Teaching
Information about what is taught on campus and other digital forms will be presented with the lecture plan before the start of the course each semester.
| Assessments |
|---|
Exam category: Submission Form of assessment: Written submission Weight: 40 Grouping: Individual Duration: 2 Week(s) Exam code: GRA41491 Grading scale: ECTS Resit: Examination when next scheduled course |
Exam category: Submission Form of assessment: Written submission Weight: 60 Grouping: Individual Duration: 2 Week(s) Exam code: GRA41492 Grading scale: ECTS Resit: Examination when next scheduled course |
All exams must be passed to get a grade in this course.
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.