Module Code - Title:
MG4065
-
AI FOR BUSINESS DECISION MAKING
Year Last Offered:
N/A
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
Rationale and Purpose of the Module:
This module gives students the skills required to use quantitative tools and techniques to understand, analyse, construct and implement organisational decision making. It will demonstrate how information systems, quantitative methods and AI can support and improve individual and group decision making. The theoretical basis of a range of analytical tools and techniques will be introduced in lectures. These tools and techniques will be applied to business problems using both traditional software tools and the latest AI technologies. The module will explore how these techniques can support process optimisation, ultimately enabling organisations to improve their sustainability. The module has a strong practical component and a specific focus on developing employer desired transferable technical skills using tools such as Excel.
Syllabus:
Organizational decision-making principles; Decision making within an organizational context; Types of decisions faced by managers; Information needs of managers; Processes for making better decisions; Management of the data/information resource; The use of information systems in support of individual and group managerial decision making; The development, construction and implementation of decision support systems in modern businesses and the managerial implications of these activities. The above concepts will be reinforced and developed through the use of decision support and modelling software.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students will be able to:
Analyse decision making scenarios across a range of business contexts and model them using a number of methodological approaches.
Develop quantitative models of business activities and business processes.
Analyse business contexts and develop decision support systems and decision automation systems that support structured and semi-structured managerial decision making.
Evaluate and interpret the output of quantitative models in terms of business activities and goals.
Develop transferable practical skills in the use of AI and modern analytical software
Affective (Attitudes and Values)
N/A
Psychomotor (Physical Skills)
N/A
How the Module will be Taught and what will be the Learning Experiences of the Students:
The module will be taught through a combination of lectures and labs. The module will focus on developing knowledge of organisational decision making paradigms and processes and their transferable practical skills. Students will be expected to develop communication skills through participation in in-class discussion and debate on the strengths and weaknesses of decision making approaches. Through the provision of problem sets and other exercises, students will be expected to proactively manage their learning experience and develop skills in independent learning. Relevant, up to date research on group decision making techniques such as prediction markets will be integrated into the module. The module will be assessed using a range of tools including lab based assessments which will assess students practical and problem solving skills.
Prime Texts:
Taylor BW (2019)
Introduction to Management Science
, Pearson
Other Relevant Texts:
Harvey G. (2016)
Excel 2016 All-in-One for Dummies
, John Wiley
McFedries P. (2023)
Teach Yourself Visually Excel 365
, Visual
Turban, E., Sharda, R., & Delen D. (2010)
Introduction to Management Science
, Pearson
Programme(s) in which this Module is Offered:
BACHELOR OF BUSINESS STUDIES
Semester(s) Module is Offered:
Autumn
Module Leader:
patrick.buckley@ul.ie