Business Analytics (Study Abroad) BSc Hons - 2020 Entry

Course Overview

How can analysing data solve real-life problems? What does it mean to think statistically? If you’re numerate and analytically minded, this degree can help launch your career in industry, finance, the public sector, government or consulting. In fact, in any data-rich and technology-dependent organisation.

This is a four-year degree. You will learn techniques and approaches that help organisations plan and improve their decision-making process. We will teach you how to make forecasts and use data to understand complex behaviour. You’ll be introduced to operational and strategic business contexts. As part of a team, you will work on a project for an actual client in the Lancaster area.

In your second and final years, you specialise in a main ‘track’, choosing modules from other tracks if you wish. The Business Analytics track delivers the mathematical tools to develop practical, numerate and computer-based modelling. Intrigued about how to put ideas into practice, gain employee support during change and improve your consultancy skills? We offer a Project Management track.

The Operations, Logistics and Supply Chain Management track explores the problems faced by operations managers. It covers topics such as purchasing, inventory planning and risk analysis. Perhaps you want to learn about designing and managing the computer-based systems of our digital economy? If so, the Information Systems specialism is for you.

Your third year is spent at a partner university in North America or Asia. There are many advantages to studying abroad, including personal and educational development, experiencing a new culture, immersing yourself in a foreign language, and enhanced employability. If you’re considering further study, graduate programmes welcome study abroad candidates.

Truly modern organisations rely on sophisticated analysis and technology to perform effectively. We are proud to produce creative, technically competent and skilled graduates who can deliver these skills and more.

Entry Requirements

Grade Requirements

A Level AAB

GCSE Mathematics grade B or 6, English Language grade C or 4

IELTS 6.5 overall with at least 5.5 in each component. For other English language qualifications we accept, please see our English language requirements webpages.

Other Qualifications

International Baccalaureate 35 points overall with 16 points from the best 3 Higher Level subjects

BTEC Distinction, Distinction, Distinction

We welcome applications from students with a range of alternative UK and international qualifications, including combinations of qualification. Further guidance on admission to the University, including other qualifications that we accept, frequently asked questions and information on applying, can be found on our general admissions webpages.

Contact Admissions Team + 44 (0) 1524 592028 or via ugadmissions@lancaster.ac.uk

Course Structure

Many of Lancaster's degree programmes are flexible, offering students the opportunity to cover a wide selection of subject areas to complement their main specialism. You will be able to study a range of modules, some examples of which are listed below.

Year 1

Core

• Foundations of Business Analytics

  This module introduces students to the methodology of Management Science to give an understanding of the way business problems are investigated, modelled and solved. It provides a framework for understanding the different approaches and techniques that students on the BAC degree scheme will encounter later in their studies.It also provides the study skills and guidance on good academic practices that will enable students to work effectively and more successfully in their studies and later professional practice.

• Future Global Leaders

  Future Global Leaders is a professional development module taken by all first year LUMS students. The module takes place mainly online and aims to introduce you to key ideas about leadership to help you become future leaders, to enhance your online working skills and to help you develop professional and careers skills which will enhance your employability.

• Project Challenge

  This is a very practical module that seeks to develop the skills needed to manage on a daily basis, whether managing an organisation, project or event. You will work in a team to deliver an event at the University or in the local area. You will need to meet the client; negotiate the content of the event and its presentation; plan and manage the event; procure any logistics; enrol any volunteers to help you deliver the event; manage a budget; plan for risks; and manage yourselves in the context of a real project, as well as work on the actual day!

  Although you will learn project management techniques, the module focuses more on the human element of projects, including team work, negotiating, conflict and culture.

• Statistics and Computing for Management

  This module is designed to give you an introduction to probability and statistics and to make you familiar with some useful computer tools.

  The statistical topics covered are sampling, introductory data analysis and presentation, probability, the use of some important probability distributions, regression analysis and random variables. The computing side of the module uses Excel for presentation and analysis of data.

  Available to students taking degrees in the departments of Accounting and Finance, Economics, Management Science and Mathematics, and to incoming exchange students with college-level Mathematics.

Optional

• Introduction to Management Science / Operational Research

  Management science is used in all major organisations in industry, commerce, finance and government. Its application might involve well-defined problems, such as reducing the cost of a complex goods distribution network, or more nebulous problems, such as improving patient care in hospital. Techniques based on mathematics and statistics can be extremely powerful in helping to solve these organisational problems.

  Five such techniques will be introduced:

  • forecasting
  • linear programming
  • decision analysis
  • simulation
  • stock control

  The module emphasises not only how to apply techniques, but also when (and when not) to apply them. There is a stress on practical examples of using the techniques.

  You will work on two challenging case studies based on real problems. These provide the opportunity to apply concepts and techniques of problem solving, making recommendations and reporting results. To take this module you must also be taking one of MSCI 101, 100 or MNGT130.

• Introduction to Operations Management

  Operations management is a core discipline for all kinds of organisation, from private-sector manufacturers through to public-sector service providers. This module introduces the core topics of operations management, including operations design, capacity management, supply chain management, inventory analysis, demand forecasting, quality management and risk analysis. Most of these topics have both qualitative and quantitative elements that need to be understood and practised in combination.

  By the end of the module you should be able to:

  • identify different kinds of operations and predict their attributes

  • apply basic planning and analysis techniques to particular cases

  • understand operations problems and related improvement strategies

  The quantitative parts of the course are basic, and if you prefer a more quantitative approach you should consider Management Science (MSCI 103) as an alternative. To take this module you must also take either MSCI 101, 100 or 110.

Year 2

Core

• Consultancy Skills

  The overall objective of this module is to introduce you to some of the key communication and technical skills needed in project work and to give you the opportunity to practise those skills in a progressive way.

  Via a group simulated consultancy study, it covers some of the key communication and technical skills needed in project work, such as teamwork, interviewing for information, oral presentations and writing a management report.

• Project Management Tools & Techniques

  Designed as a complete introduction to the theory and practice of managing business projects, this module introduces project management methods in a way which links to the life cycle of a typical project – from the early project identification and definition stages, through project execution and control, to issues of implementation and change.

  The coverage of the early stages of the project cycle uses methods emerging from the systems movement and stresses the strategic relevance of project management.

  The operational management of the project is covered by introducing techniques for planning, scheduling and controlling projects. Attention is also given to the people management aspects of this process, especially to leadership, team-working, motivation and direction.

• Spreadsheet Modelling for Management

  Many organisational recruiters have identified a number of skills and knowledge they want to see from a prospective employee. Top in the priorities are spreadsheet modelling, problem structuring, statistics, and project management.

  Students will be introduced to Microsoft Excel 2016 and the basics of dynamic model building, including skills such as data handling, filtering and analysis, using functions, charting, plus advanced techniques such as optimisation, simulation, and the use of Visual Basic for Applications (VBA) to automate models and construct decision support models.

  The course will make extensive use of case-studies and workshop-orientated learning tasks.

• Statistical Methods for Business

  At the heart of many real management problems are data that needs to be described, analysed and interpreted. Statistical methods are important across the range of Management School subject areas (e.g. accounting and finance, marketing, economics, operations management and operational research). This module develops your ability to describe, analyse and interpret data soundly, making effective use of computer software.

  Developing these skills will also help you demonstrate to prospective employers that you have practical skills that can immediately be put to good use to solve problems for organisations either in the public or private sector.

  The lecture materials, and the problems you are asked to solve in workshops, reflect the problems that organisations have to solve in practical situations where data analysis skills are required.

Optional

• Business Modelling and Simulation

  This module covers the skills needed to improve business process by modelling and simulation.

  Computer simulation methods are among the most commonly used approaches within operational research and management science. This module teaches you the skills required to apply simulation successfully to help improve the running of a business, and it shows how companies can find good solutions by predicting the effects of changes before implementing them.

  Modern simulation packages are a valuable aid in building a simulation model, and this module uses the Witness simulation package, which is widely used commercially. However, without the proper approach, the results of a simulation project can be incorrect or misleading. This module looks at each task required in a simulation project. It emphasises the practical application of simulation, with a good understanding of how a simulation model works being an essential part of this.

• Introduction to Financial Accounting for Managers

  This module provides an introduction to the analysis and use of published financial statements and the concepts which underlie financial reporting by companies. It also considers the relationship between companies and their financial environment. The concepts and use of financial statements are placed within the current commercial context, so that you acquire an appreciation of the role of financial accounting.

• Introduction to Operations Management

  Operations management is the core managerial discipline in all kinds of operation – from private-sector manufacturing through to public-sector services. It is about the human capacity to organise all the operations that underpin the modern world: transportation, the generation of energy, retailing, the production of goods, the provision of medical and educational services, and so on.

  The module will introduce students to key concepts and themes of Operations Management such as operations strategy and performance objectives, operations design (e.g. layout, facility location and capacity), inventory planning and control, project management, quality management and supply chain management. These topics will be approached using a combination of qualitative and simple quantitative methods.

  By the end of the course students should be able to:

  • identify different kinds of operations and predict their characteristics
  • apply basic planning and analysis techniques to particular cases
  • understand operations problems and identify improvement strategies
• IT in Organisations: Introduction to ERPs

  Enterprise resource planning systems (ERPs) and integration solutions are essential to every modern enterprise, and this module gives you hands-on experience of SAP, a widely used enterprise technology. The module develops your understanding of how information technologies can help companies to achieve their strategic objectives, and introduces you to techniques and tools that can be used to evaluate the performance of business processes, diagnosing where problems lie and how processes can be improved.

  After introductory sessions which look at the pervasive use of IT by business and at quantitative and qualitative business process analysis, you then work in small teams to compete in running a virtual dairy company, using SAP GUI as your ERP technology.

• Managing Business Information Systems

  This module provides an introduction to the use and impact of information, communication and integrated technology systems on business and organisations. It focusses not on technical specifications, but rather on managerial and business implications of using these systems.

  The following issues will be addressed:

  - benefits gained by adopting ICT systems

  - basics of a taxonomy of the different forms of IT system

  - characteristics of data and information

  - how organisation plan and obtain new or improved systems

  - strategic planning, selection, and delivery of new systems

  - risks to the business and approaches to achieve successful implementation.

  The course provides the business foundation for other more specialised or technical topics in Information Systems.

• Marketing Fundamentals

  This module forms a self-contained introduction to marketing. It examines components of the marketing system, concepts of buying behaviour, analysis of market opportunities, market segmentation, the marketing mix and marketing strategy. Consideration is also given to a number of special topics, including services marketing, retailing and international marketing. It aims to develop your appreciation and understanding of the conceptual and descriptive language of marketing and how it is used within a business and management context.

• Optimisation

  This module describes a variety of optimisation algorithms and how business problems can be modelled using these techniques.

  Optimisation is one of the primary techniques associated with management science/operational research. Linear programming models are used routinely in many industries, including petroleum refining and the food industry. Integer linear programming models are increasingly being used in practice for complex scheduling problems such as those that arise in the airline industry where such models have saved large amounts of money. Skills in formulating and solving applied optimisation problems are valuable for anybody interested in a career in operational research or business modelling and consultancy.

  This module is designed to enable you to apply optimisation techniques to business problems.

  Four main topics are covered:

  • Linear programming

  • Specially-structured linear programs

  • Integer and mixed-integer programming

  • Heuristics for large-scale problems

• Quality and Risk Management

  Introducing you to the main concepts and techniques in the management of operational risk and the management of quality, this module deals with both the technical and broader social analysis of these disciplines.

  Its purpose is to give you an understanding of these concepts within the general subject of operations management. It will treat the concepts analytically, but as grounded in the practical problems faced by both manufacturing and service operations.

  Topics in quality management range from statistical process control to total quality management, while those in risk management range from quantitative risk assessment to high reliability organisations. The module will also look at both subjects as social constructions, and examine the implications of taking such a viewpoint.

• Supply Chain Management

  This module examines the principles and practices of supply chain management, and examines supply chain and logistics management in relatively high-volume industries such as retailing. It also looks critically at supply chain management, as just one manifestation of the more general issue of trans-organisational operations management.

  Most of the time will be spent considering inter-organisational relationships from various perspectives, but you will also need to understand how they relate to matters within the organisation. For example, adopting Just-in-Time supply requires Just-in-Time approaches to be adopted within the firm, and vice versa.

• Techniques for Management Decision Making

  Techniques based on mathematics and statistics can be extremely powerful tools in helping to solve organisational problems and are widely used in practice. This module explains the business situations in which such techniques apply, and shows how to use the techniques and interpret the results to make better business decisions.

  Five such techniques will be covered:

  • Forecasting
  • Simulation
  • Decision analysis
  • Network analysis
  • Linear programming

Year 3

Core

• Management School UG Study Abroad Year

  The second year of this degree programme will be spent studying abroad at one of our partner universities. We have exchange agreements with prestigious universities all over the world and many of our undergraduate degree programmes include an integral year spent studying at a top university in the US, Canada, Europe, Asia or Australasia. Progression to the study abroad year will be dependent upon performance in the first year of the degree programme. Some students may also have to complete a Study Abroad Maths examination. Studying abroad in the second year of your degree means that you gain international experience without having to extend your studies. You can find out more about our study abroad programmes on our LUMS Study Abroad web pages.

Year 4

Core

• Project Management: Negotiation and Decision Support

  Central to this module is the Crossbay Contracting Game, a management game designed by the module convenor and his colleagues at HCS Ltd.

  Three (health service) organisations are involved in a contract negotiation, and you will be part of the management team of one of these organisations. The contract concerns funding requirements for core activities over the coming financial year.

  The main aim is to reach an agreement that is satisfactory to all three parties – but you must of course ensure that your own organisation is likely to come out of it well. Much of your time will be spent analysing the emerging situation and negotiating with the other parties.

  Alongside this 'management' task there is also a modelling task. Teams are provided with a decision support system they can use to analyse the emerging situation and help them decide which strategies are cost-effective for their organisation.

• Structuring Complex Problems

  Issues and problems in the complex world of management do not necessarily arise in a well-structured form. People often do not know what they want or what is possible. They may also disagree about what they are trying to achieve and the means for arriving at their goals. Much thinking needs to be done in order to define an appropriate framework within which a useful analysis or project can be carried out.

  Various approaches have been developed in recent years to assist in this task, often referred to as problem-structuring methods (PSMs). These very practically oriented methodologies typically involve the management team to help facilitate the structuring of complex situations. They place emphasis on dialogue to think through strategic problems, identify the salient issues, formulate goals and negotiate action plans. This module introduces you to several PSMs and some of the process skills needed to use them.

Optional

• Advanced Spreadsheet Modelling

  Many organisational recruiters have identified particular skills and knowledge they want to see from a prospective employee. Top in the priorities are spreadsheet modelling, problem structuring, statistics, and project management. This highly practical module equips you with an advanced set of spreadsheet modelling skills, including advanced functions and programming using Visual Basic for Applications (VBA) that can be used to produce a wide range of effective decision-support models.

  You will learn general concepts about spreadsheet modelling using VBA and a wide range of modelling skills which are highly relevant to management. These include structured programming, program documentation, program verification, user interface design, and general investigative modelling – including applications involving optimisation, forecasting and simulation.

• Business Forecasting

  This module introduces you to various current techniques for forecasting future customer demand, including a range of predictive models that develop your knowledge of the best ways of forecasting in problem situations.

  The aim is to ensure that you have the skills needed to develop a validated quantitative set of forecasts using both extrapolative and causal forecasting methods, and that you can apply a simple forecasting method to support demand and revenue management.

  You will also learn to identify and exploit opportunities for revenue optimisation in different business contexts. You review the main methodologies used in each of these areas, discuss legal issues associated with different pricing strategies, and survey current practices in different industries. Most of the topics covered are either directly or indirectly related to pricing issues faced by firms operating in environments where they enjoy some degree of market power.

• Data Mining for Direct Marketing and Finance

  At the heart of many real-world industrial and scientific problems are increasingly large data sets that need to be analysed efficiently in order to gain novel and useful insights. The field of as data mining (also known as intelligent data analysis) brings together real large-scale datasets and algorithms from statistics, machine learning and computational intelligence that can work efficiently with real-world datasets.

  he course provides an introduction to the fundamental methods and approaches from the interrelated areas of data mining, statistical/ machine learning, and intelligent data analysis. The course covers the entire data analysis process, starting from the formulation of a project objective, developing an understanding of the available data and other resources, up to the point of statistical modelling and performance assessment. The focus of the course is classification. The course content covers:

  -Exploratory data analysis including visualisation and simple feature selection methods

  -Classification methods like: Logistic Regression, Decision trees (Random forests), k-Nearest Neighbours, and Naive Bayes

  -Performance assessment and model selection

  The course uses the R programming language and more specifically the RStudio integrated programming environment.

• Developing Business Information Systems

  In this module we look at how to study business operations, analyse the situation and develop appropriate information systems designs. The same techniques can be of value whether you develop them further and become an information systems professional or use them in general management or consultancy. There is an emphasis on practical application and extensive use of class exercises.

  The techniques taught in this module are widely employed by analysts in the fields of information systems and general business consultancy, and the ability to analyse information requirements and design efficient and effective information systems to meet those requirements is increasingly recognised and valued by employers as an important management skill.

• E-Business Management and Technology

  Digital or 'e' business is today’s leading form of doing business. Not only the Internet giants like Google and Facebook are e-businesses, but also any 'going concern' needs to understand how to ‘enhance the digital’ if it is to survive and thrive in today’s fast-moving world. To this end, the module presents a variety of frameworks that help the student formulate a comprehensive understanding of e-business in theory and practice. By creating their own Internet venture, students are introduced to the process of ideation and testing their business model assumptions, which are valuable tools in an area that is evolving quickly and faces a lot of uncertainties. The module features guest lectures from speakers from industry and a number of case studies.

• Essentials of Strategic Management

  This module provides you with an understanding of strategy that will enable you to discuss real-life business activities within a framework of contemporary strategic management thinking. It is designed to encourage you to develop a personal and distinctive understanding and appreciation of strategising for different industries and in uncertain environments, through lectures, case analyses, and class discussions. Topics to be examined include the identification and analysis of key macro-environmental drivers, competitive advantage, resources and capabilities, and stakeholder influence.

• Innovative Developments in Operations Management

  There have been a number of innovative developments in Operations Management that have sought to organise resources in a significantly new manner in order to make a big step change in performance. This module discusses these key innovative developments in detail, including those that have led to extensive modernisation both in the manufacturing and service sectors.

  There will be an emphasis on the importance of successful innovation in the current competitive environment, and the key role of Operations Management in sustaining a competitive advantage and bringing about service improvements.

Lancaster University offers a range of programmes, some of which follow a structured study programme, and others which offer the chance for you to devise a more flexible programme. We divide academic study into two sections - Part 1 (Year 1) and Part 2 (Year 2, 3 and sometimes 4). For most programmes Part 1 requires you to study 120 credits spread over at least three modules which, depending upon your programme, will be drawn from one, two or three different academic subjects. A higher degree of specialisation then develops in subsequent years. For more information about our teaching methods at Lancaster visit our Teaching and Learning section.

Information contained on the website with respect to modules is correct at the time of publication, but changes may be necessary, for example as a result of student feedback, Professional Statutory and Regulatory Bodies' (PSRB) requirements, staff changes, and new research.

Careers

The benefit of a Business Analytics and Consultancy degree is its wide application across the business world. Our graduates work for large and small companies around the world, in a variety of roles. The skills you gain from your degree are highly sought after in order to solve business problems and improve decision making.

For example in the travel industry, business analytics are used to help airlines ensure that staff and aircraft are where they are needed, or in deciding variable room rates for hotel companies. Business analytic skills can also help banks and finance companies weigh up credit risks to determine lending policies.

Even within the health sector, business analytic skills are valuable to help healthcare providers keep waiting times down and improve services. Supermarkets use business analytics to plan their stock and manufacturers rely on analytics to ensure that their products are made when their customers need them, at the right price and quality.

Roles in any of these situations are possible with a business analytics and consultancy degree.

Lancaster Management School has an award winning careers team to provide a dedicated careers and placement service offering a range of innovative services for management school students. Our high reputation means we attract a wide range of leading global employers to campus offering you the opportunity to interact with graduate recruiters from day 1 of your degree.

Fees and Funding

Fees

We set our fees on an annual basis and the 2020/21 entry fees have not yet been set.

Channel Islands and the Isle of Man

Some science and medicine courses have higher fees for students from the Channel Islands and the Isle of Man. You can find more details here: Island Students.

Funding

For full details of the University's financial support packages including eligibility criteria, please visit our fees and funding page

Students also need to consider further costs which may include books, stationery, printing, photocopying, binding and general subsistence on trips and visits. Following graduation it may be necessary to take out subscriptions to professional bodies and to buy business attire for job interviews.