Introduction
This unit explores the methodologies and applications of predictive and prescriptive analytics within business contexts. You will gain proficiency in forecasting techniques, predictive modelling, and the development of optimisation strategies for decision-making. The curriculum includes practical exercises in simulation and scenario analysis, equipping students with the skills to anticipate future trends and prescribe actions that align with business objectives. Emphasis is placed on the critical assessment of model effectiveness and the ethical implications of data-driven decisions. By the end of the unit, you will be able to construct, apply, and evaluate analytical models, preparing them for complex challenges in various business environments.
Summary
| Unit name | Predictive and Prescriptive Analytics |
| Unit code | BMA748 |
| Credit points | 12.5 |
| College/School | Tasmanian School of Business and Economics |
| Coordinator | Doctor Christopher Mabin |
| Delivered By | University of Tasmania and Third Party(ies): ECA |
| Level | Postgraduate |
Availability
Specific information on 2027 unit availability will be available in August
Learning Outcomes
- Construct predictive models and interpret their outcomes for business insights.
- Apply prescriptive analytics to recommend strategic business actions.
- Critically evaluate the effectiveness of different analytical models in various business scenarios.
Fee Information
2027 fee information will be available in August.
Teaching
| Assessment | Predictive Modelling Case Study (30%)|Simulation Exercise (30%)|Optimisation Project (40%) |
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| Timetable | View the lecture timetable | View the full unit timetable |
Textbooks
| Required |
Required readings will be listed in the unit outline prior to the start of classes. |
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The University reserves the right to amend or remove courses and unit availabilities, as appropriate.