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Business Analytics: Prescriptive Models (online) (5 cr)

Code: HB00CJ56-3001

General information


Timing

26.08.2024 - 19.05.2025

Number of ECTS credits allocated

5 op

Virtual portion

5 op

Mode of delivery

Online learning

Unit

School of Business

Teaching languages

  • English

Seats

20 - 100

Degree programmes

  • Bachelor's Degree Programme in International Business

Teachers

  • Marcin Topolewski

Groups

  • HBI23S1
    Bachelor's Degree Programme in International Business
  • HBI24VS
    Bachelor's Degree Programme in International Business, vaihto-opiskelu/Exchange studies
  • HBI22S1
    Degree Programme in International Business
  • ZJK24SHNO2
    Korkeakoulujen välinen yhteistyö, IB, nonstop 2, verkko
  • HBI25VK
    Bachelor's Degree Programme in International Business, vaihto-opiskelu/Exchange studies
  • HBI24VK
    Bachelor's Degree Programme in International Business, vaihto-opiskelu/Exchange studies
  • ZJA24SHNO2
    Avoin amk, IB, nonstop 2, verkko

Objective

You are able to use methods and techniques of mathematical programming in business application, which is: data gathering and input challenges and practical solutions, rigorous models formulation, simple to complex and example to generalization problem approach. You You know how to: understand and analyze model output, and use it to generate practical business recommendations. You accustomed with reporting and visualization techniques. The course will focus on practical applications with MS Excel.

Jamk Competences:
Learning to learn-
You develop critical and analytical mindset that helps you to study and review existing knowledge in the light of relevant learning resources and learning methods; incentivizes you to acquire new knowledge; and develops your intellectual capabilities to seek conclusions and draw inferences in various contexts.
To achieve this competence, you will:
- learn to formulate relevant questions and seek information,
- review relevant theoretical, and empirical literature to comprehend diverse perspectives and evaluate, and interpret arguments and counter-arguments,
- understand new developments in your field of study and make informed decisions based thereon.
- acquire the researcher’s mindset to problematize, explore and understand real-life phenomena especially in the academic track system.

Proactive development-
You develop solutions in the light of current as well as anticipated situations and challenges in business by applying knowledge, critical reasoning and analytical skills. You ensure that these solutions are feasible, relevant, creative, user-friendly, and sustainable as well as underline active cooperation amongst different actors.
To achieve this competence, you will:
- apply existing knowledge and utilize relevant research methods including digital technology in development projects,
- interpret new evidence in the light of existing body of knowledge, make comparisons and draw inferences,
- express your intellectual contribution through scientific or professional writings,
- understand utility, creativity, viability, scalability, and sustainability of new solutions.

IB competence:
Responsible international business management-
You develop your intellectual capabilities to seek conclusions and draw inferences in an international environment to become responsible manager. You develop creative and insightful solutions to solve complex business problems both in the present and the future with explicit emphasis on local and international standards of ethics, responsibility, and sustainability and implications on various stakeholders.
To achieve this competence, you will:
- study developments in your discipline in the international learning milieu and understand various aspects of responsible business management including global business trends and competitive landscape.
- derive and interpret new evidence and compare them with the existing body of knowledge in the global context to draw useful inferences,
- critically assess the implications of actions and decision of the international organizations.
- understand the impact of the of the actions and decisions on the community, in general, and specific stakeholders, in particular.
- understand core aspects of people management in the international business environment.

Content

Business analytics with: optimization models, linear programming, non-linear programming, integer programming, goal programming, transportation modeling, simulation. Marketing analytics with: linear programming, multiple goals.

Location and time

100% virtual, self paced course.

Oppimateriaali ja suositeltava kirjallisuus

Video lectures and tutorials
PowerPoint slides
MS Excel applications
Literature:
Business Analytics with Management Science Models and Methods, Arben Asllani, 2015.
Optimization in Operations Research: Pearson New International Edition, Ronald L. Rardin, 2014.

Teaching methods

100% virtual course. Distant learning.
Introductory meeting, video lectures and tutorials, homework exercises and assignments.

Exam schedules

Exam. Deadlines to be announced at the beginning of the course.

Vaihtoehtoiset suoritustavat

No

Student workload

Video lectures 30h, virtual study 15h, assignments 15h, independent study 15h.

Content scheduling

Topics:
Business analytics with: optimization models, linear programming, non-linear programming, integer programming, goal programming, transportation modeling, simulation.
Marketing analytics with: linear programming, multiple goals.

Further information

JAMK Competences:
1. Learning to learn-
You develop critical and analytical mindset that helps you to study and review existing knowledge in the light of relevant learning resources and learning methods; incentivizes you to acquire new knowledge; and develops your intellectual capabilities to seek conclusions and draw inferences in various contexts.
To achieve this competence, you will:
- learn to formulate relevant questions and seek information,
- review relevant theoretical, and empirical literature to comprehend diverse perspectives and evaluate, and interpret arguments and counter-arguments,
- understand new developments in your field of study and make informed decisions based thereon.
- acquire the researcher’s mindset to problematize, explore and understand real-life phenomena especially in the academic track system.

2. Proactive development-
You develop solutions in the light of current as well as anticipated situations and challenges in business by applying knowledge, critical reasoning and analytical skills. You ensure that these solutions are feasible, relevant, creative, user-friendly, and sustainable as well as underline active cooperation amongst different actors.
To achieve this competence, you will:
- apply existing knowledge and utilize relevant research methods including digital technology in development projects,
- interpret new evidence in the light of existing body of knowledge, make comparisons and draw inferences,
- express your intellectual contribution through scientific or professional writings,
- understand utility, creativity, viability, scalability, and sustainability of new solutions.

IB competence:
7. Responsible international business management-
You develop your intellectual capabilities to seek conclusions and draw inferences in an international environment to become responsible manager. You develop creative and insightful solutions to solve complex business problems both in the present and the future with explicit emphasis on local and international standards of ethics, responsibility, and sustainability and implications on various stakeholders.
To achieve this competence, you will:
- study developments in your discipline in the international learning milieu and understand various aspects of responsible business management including global business trends and competitive landscape.
- derive and interpret new evidence and compare them with the existing body of knowledge in the global context to draw useful inferences,
- critically assess the implications of actions and decision of the international organizations.
- understand the impact of the of the actions and decisions on the community, in general, and specific stakeholders, in particular.
- understand core aspects of people management in the international business environment.

Evaluation scale

0-5

Arviointikriteerit, tyydyttävä (1-2)

Assignments 100%:

- Sufficient (1) - You have only a sufficient understanding of the subject and of relevant theories and methods and fails to show a convincing ability to apply the knowledge to real life situation nor to communicate the concepts in an effective manner.
- Satisfactory (2) - Your knowledge covers restricted part of concepts and theories related to the subject and has deficiencies in showing the ability to apply them in assignments. Communication skills need improvement.

Jamk Competences:
Learning to learn-
You develop critical and analytical mindset that helps you to study and review existing knowledge in the light of relevant learning resources and learning methods; incentivizes you to acquire new knowledge; and develops your intellectual capabilities to seek conclusions and draw inferences in various contexts.
To achieve this competence, you will:
- learn to formulate relevant questions and seek information,
- review relevant theoretical, and empirical literature to comprehend diverse perspectives and evaluate, and interpret arguments and counter-arguments,
- understand new developments in your field of study and make informed decisions based thereon.
- acquire the researcher’s mindset to problematize, explore and understand real-life phenomena especially in the academic track system.

Proactive development-
You develop solutions in the light of current as well as anticipated situations and challenges in business by applying knowledge, critical reasoning and analytical skills. You ensure that these solutions are feasible, relevant, creative, user-friendly, and sustainable as well as underline active cooperation amongst different actors.
To achieve this competence, you will:
- apply existing knowledge and utilize relevant research methods including digital technology in development projects,
- interpret new evidence in the light of existing body of knowledge, make comparisons and draw inferences,
- express your intellectual contribution through scientific or professional writings,
- understand utility, creativity, viability, scalability, and sustainability of new solutions.

IB competence:
Responsible international business management-
You develop your intellectual capabilities to seek conclusions and draw inferences in an international environment to become responsible manager. You develop creative and insightful solutions to solve complex business problems both in the present and the future with explicit emphasis on local and international standards of ethics, responsibility, and sustainability and implications on various stakeholders.
To achieve this competence, you will:
- study developments in your discipline in the international learning milieu and understand various aspects of responsible business management including global business trends and competitive landscape.
- derive and interpret new evidence and compare them with the existing body of knowledge in the global context to draw useful inferences,
- critically assess the implications of actions and decision of the international organizations.
- understand the impact of the of the actions and decisions on the community, in general, and specific stakeholders, in particular.
- understand core aspects of people management in the international business environment.

Arviointikriteerit, hyvä (3-4)

- Good (3) Your knowledge covers major parts of concepts and theories related to the subject. Your ability to apply the knowledge to assignments shows need for improvement, as well as there is room for improvement in oral and written communication.
- Very Good (4) - You good knowledge of the subject fundamentals and concepts and is able to communicate these in an effective way.

Jamk Competences:
1. Learning to learn-
You develop critical and analytical mindset that helps you to study and review existing knowledge in the light of relevant learning resources and learning methods; incentivizes you to acquire new knowledge; and develops your intellectual capabilities to seek conclusions and draw inferences in various contexts.
To achieve this competence, you will:
- learn to formulate relevant questions and seek information,
- review relevant theoretical, and empirical literature to comprehend diverse perspectives and evaluate, and interpret arguments and counter-arguments,
- understand new developments in your field of study and make informed decisions based thereon.
- acquire the researcher’s mindset to problematize, explore and understand real-life phenomena especially in the academic track system.


Proactive development-
You develop solutions in the light of current as well as anticipated situations and challenges in business by applying knowledge, critical reasoning and analytical skills. You ensure that these solutions are feasible, relevant, creative, user-friendly, and sustainable as well as underline active cooperation amongst different actors.
To achieve this competence, you will:
- apply existing knowledge and utilize relevant research methods including digital technology in development projects,
- interpret new evidence in the light of existing body of knowledge, make comparisons and draw inferences,
- express your intellectual contribution through scientific or professional writings,
- understand utility, creativity, viability, scalability, and sustainability of new solutions.

IB competence:
7. Responsible international business management-
You develop your intellectual capabilities to seek conclusions and draw inferences in an international environment to become responsible manager. You develop creative and insightful solutions to solve complex business problems both in the present and the future with explicit emphasis on local and international standards of ethics, responsibility, and sustainability and implications on various stakeholders.
To achieve this competence, you will:
- study developments in your discipline in the international learning milieu and understand various aspects of responsible business management including global business trends and competitive landscape.
- derive and interpret new evidence and compare them with the existing body of knowledge in the global context to draw useful inferences,
- critically assess the implications of actions and decision of the international organizations.
- understand the impact of the of the actions and decisions on the community, in general, and specific stakeholders, in particular.
- understand core aspects of people management in the international business environment.

Assessment criteria, excellent (5)

- Excellent (5) - You show exceptional theoretical knowledge of fundamentals of the subject. You the ability to apply the knowledge to assignments and presentations with excellent written and oral communications skills.

Jamk Competences:
Learning to learn-
You develop critical and analytical mindset that helps you to study and review existing knowledge in the light of relevant learning resources and learning methods; incentivizes you to acquire new knowledge; and develops your intellectual capabilities to seek conclusions and draw inferences in various contexts.
To achieve this competence, you will:
- learn to formulate relevant questions and seek information,
- review relevant theoretical, and empirical literature to comprehend diverse perspectives and evaluate, and interpret arguments and counter-arguments,
- understand new developments in your field of study and make informed decisions based thereon.
- acquire the researcher’s mindset to problematize, explore and understand real-life phenomena especially in the academic track system.

Proactive development-
You develop solutions in the light of current as well as anticipated situations and challenges in business by applying knowledge, critical reasoning and analytical skills. You ensure that these solutions are feasible, relevant, creative, user-friendly, and sustainable as well as underline active cooperation amongst different actors.
To achieve this competence, you will:
- apply existing knowledge and utilize relevant research methods including digital technology in development projects,
- interpret new evidence in the light of existing body of knowledge, make comparisons and draw inferences,
- express your intellectual contribution through scientific or professional writings,
- understand utility, creativity, viability, scalability, and sustainability of new solutions.

IB competence:
Responsible international business management-
You develop your intellectual capabilities to seek conclusions and draw inferences in an international environment to become responsible manager. You develop creative and insightful solutions to solve complex business problems both in the present and the future with explicit emphasis on local and international standards of ethics, responsibility, and sustainability and implications on various stakeholders.
To achieve this competence, you will:
- study developments in your discipline in the international learning milieu and understand various aspects of responsible business management including global business trends and competitive landscape.
- derive and interpret new evidence and compare them with the existing body of knowledge in the global context to draw useful inferences,
- critically assess the implications of actions and decision of the international organizations.
- understand the impact of the of the actions and decisions on the community, in general, and specific stakeholders, in particular.
- understand core aspects of people management in the international business environment.

Qualifications

Knowledge of basic descriptive statistics

Further information

The general criteria of the competences that the Bachelor's Degrees awarded by Finnish Universities of Applied Sciences provide can be found on Jamk's web pages (http://www.jamk.fi/english/forstudents/studyguide). The learning outcomes of individual courses are assessed in relation to the objectives of the course concerned. Assessment is based on knowledge, skills and competence in accordance with the National and European Qualifications Framework, level 6. Grades are from 0 to 5.