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2014/2015  KAN-CCMVV1401U  Business Analytics and Decision Making

English Title
Business Analytics and Decision Making

Course information

Language English
Course ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Quarter
Course period Third Quarter
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Dolores Romero Morales - Department of Economics (ECON)
Administrator: Tatjana Mastilo- tma.eco@cbs.dk
Main academic disciplines
  • Finance
  • Economics, macro economics and managerial economics
Last updated on 10-09-2014
Learning objectives
After completing this course, the students should be able to:
  • Understand the use of Regression Analysis in Decision Making, such as in Business Forecasting
  • Understand the use of Optimization in Decision Making, such as in Portfolio Optimization
  • Understand the use of Risk Analysis in Decision Making, such as in Financial Investment
  • Understand the use of Decision Analysis in Decision Making, such as in Project Management
  • Use package computer programs, widely used in industry, for Regression Analysis, Optimization, Decision Analysis and Risk Analysis
  • On the overall, appreciate the implications of uncertainty in Decision Making and the need for flexible and robust solutions
Individual home assignment:
Exam ECTS 7,5
Examination form Home assignment - written product
Individual or group exam Individual
Size of written product Max. 10 pages
Assignment type Written assignment
Duration Written product to be submitted on specified date and time.
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Spring Term and April
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content and structure

.In the current competitive environment, it is important to understand the relationships between different business factors, to forecast trends, to appreciate the risks arising from management actions, and to optimize investment strategies. Decisions are often taken under considerable uncertainty and time pressure. Therefore, managers need to be able to grasp the range of uncertainty rapidly and make rational decisions, which are both flexible and robust. This course aims to enhance your ability to apply modern Business Analytics tools, based on Statistical Analysis and Optimization, to decision-making. It is a practical course, which uses computer software to illustrate how to apply the methodologies introduced. The course is multidisciplinary with links to accounting, economics, finance, marketing and operations management.


During the course, and through a practical approach, students will develop quantitative skills necessary for Decision Making, as well appreciate the implications of uncertainty in Decision Making and the need for flexible and robust solutions.


Teaching methods
Lectures, Exercises, Demos, Computer Workshops
Expected literature

Wisniewski, M. (2009), Quantitative methods for decision makers, 5th edn. FT Prentice Hall.


Albright, S.C., Winston, W.L. and Zappe, C. (2011), Data Analysis, Optimization, and Simulation Modeling (UK: Thomson Southwestern)

Last updated on 10-09-2014