Postgraduate Course: Predictive Analytics and Modelling of Data (CMSE11357)
||College||College of Humanities and Social Science
|Credit level (Normal year taken)||SCQF Level 11 (Postgraduate)
||Availability||Not available to visiting students
|Summary||This is a option course for the MSc in Business Analytics programme. The course will provide students with the foundations of predictive analytics to respond to the job market needs and shall cover concepts, applications, modelling/prediction and analysis techniques.
This course aims at training students in the field of predictive analytics to respond to the job market needs using a variety of methodologies. Students' journey shall be a quest to distinguish the "true" signal from a universe of "noise" through the lenses of predictive analytics. To be more specific, this course covers the typical methodological steps of a prediction exercise, statistical modelling, probabilistic modelling, stochastic modelling, and artificial intelligence methodologies for prediction of both continuous and discrete variables with applications in business and economics. It also covers practical issues in predictive analytics and how to address them.
The objective of this course is to enhance students┐ understanding of the importance of adopting a series of sound methodological steps in a prediction exercise and to provide them with an artillery of modelling and prediction techniques along with hands-on experience in using them. The course provides opportunities for students to learn from each other, from practitioners in the field, and from the latest theoretical and applied research in the field. The course will require students to work in groups on realistic projects in different business settings involving prediction of continuous and discrete variables, and to present their work to the rest of the class and to an external panel when the projects are supplied by industry.
Entry Requirements (not applicable to Visiting Students)
||Other requirements|| None
Course Delivery Information
|Academic year 2018/19, Not available to visiting students (SS1)
|Learning and Teaching activities (Further Info)
Lecture Hours 20,
Seminar/Tutorial Hours 10,
Programme Level Learning and Teaching Hours 3,
Directed Learning and Independent Learning Hours
|Assessment (Further Info)
|Additional Information (Assessment)
Final exam 30% weighting - assesses LO1, LO2, and LO3.
Term projects 60% weighting - assess LO1, LO2, LO3, and LO4.
Presentations 10% weighting - assess LO5.
-Term projects (60% of the mark including a peer assessment component worth 10%) in which students will have to undertake a prediction exercise including problem statement and related relevant research questions, prediction model building, preparation and assessment of forecasts, report on findings, formulation of recommendations and managerial guidelines.
- Presentations (10% of the final mark) involving communication of viable forecasts and the methods used to obtain them to demonstrate their ability to address real prediction problems and to convince their line managers or sponsors to base their plans on the proposed forecasts
-Exam(s) (30% of the final mark)
||Hours & Minutes
|Main Exam Diet S1 (December)||Predictive Analytics and Modelling of Data||1:30|
On completion of this course, the student will be able to:
- Discuss the concept and methods of prediction analytics using the proper terminology
- Identify and properly state research problems related to prediction analytics in different business settings
- Critically discuss alternative prediction approaches and methods, and choose the right prediction models for a prediction exercise, implement them, and prepare forecasts
- Formulate managerial guidelines and make recommendations
- Communicate forecasts effectively and efficiently to a critical audience
|Graduate Attributes and Skills
|Course organiser||Dr Matthias Bogaert
|Course secretary||Miss Lauren Millson
Tel: (0131 6)51 3013