• describes the purpose, importance and role of business analytics in creating strategic value and competitive advantage.
• defines analytics ecosystem (descriptive, predictive, prescriptive and exploratory analytics) and illustrates how they are adopted by various industries in
their key business functions ranging from strategy, marketing and sales, operations (production), etc. Please quote literatures and real case examples to support your
statements.
• illustrates how business analytics can be implemented and challenges of achieving/cultivating analytic leadership and culture in practice.
• Use academic, industrial and technical references and examples to support your views on each of the above.
The report is required to be written in a professional format conforming to report guidelines noted below.
Task 02
Task 02 is an in-depth review of descriptive analytics techniques covered/mentioned in class. You are required to develop a taxonomy for descriptive analytics
techniques, describing for each technique its purpose, functionality, assumptions, method of validation and sample use case. The sample use case must be from a
business analytics scenario. An example is shown below.
Technique: the mean
Purpose: determine the mid-point or central tendency of a given set of numbers
Functionality: sum up all given numbers and divide by the count of numbers
Assumptions: the set of numbers are normally distributed
Method of validation: Calculate the mean of another sample, plot the numbers in a histogram to check for normal distribution
Sample use case: find the mean service time for customers in a retail bank teller queue.
Present the high-level taxonomy in an intuitive and instructive manner. This may be a matrix, tree or other form of graph. You are free to use any of the tools covered
in class, but this is not mandatory.
Report guidelines
1. The report should consist of a ‘cover page’, ‘table of contents’, ‘introduction’, logically organized sections/topics, a ‘conclusion’ and a ‘list of
references’.
2. Choose a fitting sequence of sections/topics for the body of the report. For task 1, number of sections covering points of requirements are essential, you may
add other sections deemed relevant. For task 2 you may use techniques or other relevant sections.
3. Page limit: five (5) or more pages for Task 1; three (3) or more pages for Task 2.
4. Reports should be written in Microsoft Word (font size 11) and submitted as two separate Word files.
Marking rubric
A grade will be awarded to each of the tasks and then an overall mark determined for the entire assessment. The rubric below gives you an idea of what you must achieve
to earn a certain ‘grade’.
As a general rule, to meet a ‘C’, you must first satisfy the requirements of a ‘D’. And for an ‘A’, you must first satisfy the requirements of a ‘B’, which must of
course first meet the requirements of a ‘C’ and so on.
The marking rubric for this assignment is given below.
Criterion Pass Credit Distinction High Distinction
Task 01
(20 marks) Reasonable coverage of requirement points.
Limited understanding of required points. Good coverage of requirement points.
Average understanding of required points. Excellent coverage of all requirement points.
Good understanding of required points. Extensive coverage of all requirement points.
Highly-detailed and relevant or creative understanding of required points.
Task 02
(10 marks)
Limited effort to structure and present a complete taxonomy of all techniques mentioned in class. Average effort to structure and present a complete
taxonomy of all techniques mentioned in class. Excellent effort to structure and present a complete taxonomy of all techniques mentioned in class. Exceptional
effort to structure and present a complete taxonomy of all techniques mentioned in class.
Other information
