Study Guide

Learning outcomes

The student is able to
- use planning, analysis and decision-making tools and techniques in strategic planning
- analyze financial statements and business reports and use them as a basis for decisions
- make business decisions in various business contexts
- apply data in decision making

Teaching methods

Welcome to “Exploring Data in Business”!
In this course, we’ll delve into the world of data and its impact on business. You’ll learn about data-driven decision making, its role in business growth, and practical tools for handling data. Collaborate with industry partners and bridge theory with real-world practice.

The course learning environment is Canvas. However, for learning, it is essential to participate in teaching and guidance in classroom according to the schedule. Studies include individual work and working in teams (these cannot be done individually).You will receive feedback from the teacher on the completion of tasks and peer review is also utilized.

HOX: During the lectures there will be different types of discussions and group assignments. These interactive elements will be graded. You can only earn your points for these assignment by attending the lectures.

The study unit includes four themes or modules. The orientation module must be completed before you can go on to modules 1, 2, 3, and 4.

Orientation
Module 1: Data in Business Environment
Module 2: Decision making
Module 3: Data Analytics and Accounting
Module 4: Data and Artificial Intelligence in Business Context
There will be a company visit

Location and time

You can see the schedule in Pakki and in Canvas.

Learning materials and recommended literature

Strategic Analytics. Harvard Business Review Press, 2020.

Bernard, M. (2017). Data Strategy

Jackson, P. & Carruthers, C. (2019). Data Driven Business Transformation. John Wiley & Sons, Incorporated.

Listenmaa, J. (2023). Laita tieto töihin: Tiedolla johtamisen käsikirja. Alma Talent.

Alternative completion methods of implementation

According to the degree regulations “all students are entitled to demonstrate their competence. The recognition and accreditation of prior competence is initiated by the students themselves. The competence is recognized and accredited by the teacher responsible for the module or study unit or another person designated by the director of the UAS unit. The assessment is carried out according to the same criteria and grading scale as that adopted for the corresponding study unit.” For further information visit Opiskelijaintra.

Co-operation with working life and/or RDI

There will be cooperation with companies that use data in their business planning and scoring.
Partner companies are:
- SAS Analytics and students will achieve data related SAS Literacy Skills Badge
- Students will become familiar with data tools PowerBI and Excel provided by Microsoft
- There will be a company visit during the study unit.

Important dates

You will confirm your place on the study unit by accomplishing the preliminary assignment SAS Literary Essentials Learning badge before the given deadline. You can find info about this in Canvas.

Forms of internationality

The study unit is suitable for exchange students.

Students workload

One credit equals approximately 26.7 hours of work performed by the student. 5 ECST is approximately 135 hours.

Content and scheduling

Data-Driven Decision Making is aimed at providing an understanding of the role and significance of data in the business world.

The course will cover the following topics:

- Introduction to Data and Data-Based Thinking: This will provide a comprehensive understanding of data and its transformative potential in decision-making processes.
- Introduction to Decision Making Processes: This section will focus on how biased thinking affects us all.
- Data and Business: This will explore the crucial role of data in various business functions and sectors.
- Data and Data-Related Tools: This will offer practical experience with tools and technologies that facilitate effective data analysis and visualization.

In this course there will be collaboration with companies, offering students the opportunity to gain practical insights and experience.

Please note that the medium of instruction for this course will be English.

Further information for students

The study unit corresponds to the requirements of Bachelor's level education.

According to the degree regulations (section 18) “students must be present in the first contact session or notify their teacher in charge if they cannot attend. If they fail to notify the teacher of their absence in the first contact session, their enrolment will be rejected. Another student in the queue may be enrolled in the study unit in the place of the absent student.”

Grading scale

H-5

Evaluation methods and criteria

In this study unit the assessing of the competences will be done by using the criteria set for requirement level II.

Evaluation criteria, fail (0)

The assignments have not been completed with approval or tasks are missing.

Evaluation criteria, satisfactory (1-2)

To achieve satisfactory (or pass) student must be able to
• Apply most important/individual and appropriate professional concepts, and indicate their familiarity with the knowledge base.
• Comply with rules and instructions, and justify their activities using provided instructions.
• Act appropriately under guidance.
• Use acquired techniques and models.
• Take customers into account in their actions.
• Act as group members.
• Act in accordance with ethical principles.
• Act safely, although activities are often schematic/ experimental/ fumbling/ self-involved.

Evaluation criteria, good (3-4)

To achieve good student must be able to
• Apply professional concepts systematically.
• Justify, compare and analyse their activities using general guidelines.
• Able to cope independently in different tasks in each operating environment.
• Apply acquired techniques and models diversely.
• Act professionally in customer situations.
• Work in a group in line with objectives.
• Justify their activities in accordance with ethical principles.
• Apply occupational safety instructions in their activities.

Evaluation criteria, excellent (5)

To achieve excellent student must be able to
• Apply professional concepts expertly.
• Justify activities using research knowledge.
• Work independently and take initiatives in line with objectives. Operations are often flexible, systematic, development-oriented, creative and active.
• Select the appropriate techniques and models for activities, and justify the choices.
• Act in customer-oriented ways and according to the situation.
• Promote group activities.
• Able to critically apply ethical principles in the subject field in one's conduct and tasks.
• Comply with occupational safety instructions responsibly and independently.