Basics of data-driven business (3 cr)

Objective

After completing the course, the students understand how modern organizations use data and analytics in decision-making and business operations. The students will adopt an entrepreneurial approach to their studies and work. They will be able to use basic business concepts as required. They will understand the importance of being able to identify and create business potential to the development and wellbeing of society. The students will also be able to describe a company’s basic operations and functions and they will understand the principles of running a profitable business.

Content

Entrepreneurship
Business idea, business model, business plan
Corporate finance, basics of business economics and external accounting
Financial statement and financial statement analysis
Sales and marketing, management and organizational structures
Internal accounting
Data, analytics and artificial intelligence in business
Data strategy, data use case and data-driven business models

Evaluation scale

0 - 5

Assessment criteria, excellent (5)

The students are able to widely use and combine business concepts with expertise and can analyse, compare and critically assess their own business competence and forms and methods of business using acquired knowledge. The students are able to work as members of a group/team, promoting and developing the work of the group.

Assessment criteria, good (3)

The students are able to systematically use business concepts. They are able to use, name and justify business and entrepreneurial practices. The students are able to work independently based on information and instructions and can apply business techniques and models. The students are able to work as members of a group to achieve common goals and can give reasons for their actions based on professional ethical principles.

Assessment criteria, satisfactory (1)

The students are able to define and use basic business concepts as required according to professional ethical principles. They are able name and describe basic business information. The students are able to work appropriately though their actions may display uncertainty.

Objective

After completing the course, the students understand how modern organizations use data and analytics in decision-making and business operations. The students will adopt an entrepreneurial approach to their studies and work. They will be able to use basic business concepts as required. They will understand the importance of being able to identify and create business potential to the development and wellbeing of society. The students will also be able to describe a company’s basic operations and functions and they will understand the principles of running a profitable business.

Accomplishment methods

Assignment and exam

Content

Entrepreneurship
Business idea, business model, business plan
Corporate finance, basics of business economics and external accounting
Financial statement and financial statement analysis
Sales and marketing, management and organizational structures
Internal accounting
Data, analytics and artificial intelligence in business
Data strategy, data use case and data-driven business models