FIN534 Business Analytics And Financial Modelling UITM Assignment Answers Malaysia
FIN534 Business Analytics And Financial Modelling is designed to give participants a strong understanding of the use of analytics and financial modelling in business. The course will cover topics such as data mining, predictive modelling, regression analysis, time series analysis, and optimization techniques. In addition, the course will also introduce participants to financial statement analysis and valuation methods. At the end of the course, participants will be able to apply these concepts and techniques in a business context.
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Assignment Task 1: Apply the theories, concepts, and applications of business analytics in supporting managerial decisions.
Business analytics can be defined as the systematic application of statistical, mathematical, and modeling techniques to business data in order to gain insights and optimize business decisions. In recent years, there has been a growing recognition of the importance of business analytics in supporting managerial decision-making. This is due to the increasing availability of data and the development of sophisticated analytical tools and techniques.
Business analytics can be used to support a wide range of managerial decisions, from marketing campaigns to product development. For example, analysts can use customer purchase data to develop models that predict how likely customers are to respond to different marketing messages. This information can then be used to design more effective marketing campaigns. Alternatively, analysts can use sales data to identify trends and patterns in customer behavior. This information can be used by managers to make decisions about which products to develop or which features to focus on.
Importantly, business analytics is not just about using data to make better decisions. It is also about understanding the Business Processes within organizations so that those processes can be tweaked or improved based on the insights gained from the data. In other words, analysts not only use data to make better decisions, but they also help organizations improve their overall performance by improving their business processes. Consequently, businesses that are able to effectively harness the power of business analytics are often able to achieve a significant competitive advantage.
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Assignment Task 2: Display skills in using Tableau software and Microsoft Excel in data visualization and analysis.
Tableau is a powerful data visualization tool that can be used to gain insights into business data. Tableau allows users to easily create visualizations such as bar charts, line graphs, and scatter plots. In addition, Tableau provides a wide range of options for customizing visualizations, making it an ideal tool for businesses that want to make their data more accessible and understandable.
Microsoft Excel is a powerful spreadsheet application that can be used to analyze business data. Excel provides a wide range of features for performing statistical analysis, such as regression analysis and time series analysis. In addition, Excel can be used to create charts and graphs, which can be used to visually represent data.
Both Tableau and Excel are powerful tools that can be used to gain insights into business data. However, each tool has its own strengths and weaknesses. For example, Tableau is better suited for creating visualizations, while Excel is better suited for performing statistical analysis. As such, businesses should choose the tool that best meets their needs.
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Assignment Task 3: Demonstrate managerial skills in a data-driven business and finance environment.
Data-driven businesses are those that make decisions based on data. This can be contrasted with businesses that make decisions based on gut feeling or intuition. Data-driven businesses use data to inform their decision-making, and as such, they are often able to make better decisions than businesses that do not use data.
There are a number of benefits that data-driven businesses can enjoy.
- First, data-driven businesses are often more efficient than businesses that do not use data. This is because data-driven businesses make decisions based on facts and evidence, rather than on guesswork. As such, they are less likely to waste time and resources on activities that do not improve their bottom line.
- Second, data-driven businesses are often more effective than businesses that do not use data. This is because data-driven businesses make decisions based on a deep understanding of their customers and their needs. As such, they are better able to meet the needs of their customers and grow their business.
- Third, data-driven businesses are often more agile than businesses that do not use data. This is because data-driven businesses are able to rapidly adapt to changes in the market or their environment. As such, they are better able to respond to new opportunities and threats and keep their business on the cutting edge.
Data-driven businesses enjoy a number of advantages over businesses that do not use data. As such, businesses that want to stay competitive must make sure that they are using data to inform their decision-making. only then will they be able to enjoy the benefits of being a data-driven business.
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