MSc Business Analytics and Artificial Intelligence

Fees for entry in 2027 have not yet been set. For reference, the fees for the academic year beginning September 2026 were as follows:

• MSc (full-time)
  UK students (per annum): £20,000
  International, including EU, students (per annum): £35,700

The fees quoted above are fully inclusive of tuition, administration and computational costs.

Fees for entry are subject to yearly review. The University reserves the right to increase your tuition fee by up to 7% each year for courses lasting more than one year, including to reflect rising costs associated with delivering our educational and wider student experience. Postgraduate fees information .

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All students should normally be able to complete their programme of study without incurring additional study costs over and above the tuition fee for that programme. Any unavoidable additional compulsory costs totalling more than 1% of the annual home undergraduate fee per annum, regardless of whether the programme in question is undergraduate or postgraduate taught, will be made clear to you at the point of application. Further information can be found in the University's Policy on additional costs incurred by students on undergraduate and postgraduate taught programmes (PDF document, 91KB).

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The unit provides an overview of simulation techniques and, in particular, their use in supporting risk analysis and flow management in systems that are sufficiently complex to limit the applicability of other modelling approaches. In particular, the unit covers and contrasts three of the main Operational Research simulation concepts and approaches: Monte Carlo Simulation, Discrete Event Simulation and System Dynamics. The unit also introduces Markov Chain Analysis and basic Queuing Theory models, and discusses the use of these mathematical approaches as a means of complementing and / or informing simulation. There is a focus on practical modelling work and students are introduced to a range of suitable software packages.
 

 

BMAN73942 Programme Req: BMAN73942 is only available as an elective to students on MSc Business Analytics and MSc Data Science (Business and Mgmt pathway)

BMAN73942 is only available as an elective to students on MSc Business Analytics, and MSc Data Science (Business and Management pathway)

Analysing systems dominated by randomness and/or interactions between their constituent elements is particularly challenging. Problems of this type include operational risk analysis, revenue management and improving operational process flow in service or manufacturing. This unit will focus on application of approaches developed to model such systems, including the basics of queuing theory, Markov processes and (in particular) computer-based simulation.

 

• Familiarity with the concepts and types of tools and techniques commonly used in analysing the performance of and risk in complex operational systems.
• Experience in considering different approaches and their assumptions, advantages and disadvantages.
• Ability to formulate, use and understand models of problem situations including, where appropriate, state-of-the-art software tools.
 

 

Formal Contact Methods

Minimum Contact hours: 20 

Delivery format: Lecture and Workshops 

Summative assessment:

Group coursework project (50%)
Examination (50%)

Formative assessment: 

Team Presentation
 

 

• Informal advice and discussion in contact sessions.
• Online discussion board.
• Written and/or verbal comments on formative & summative work
 

Core texts:
Pidd, M. (2009), Tools for thinking (3rd ed), John Wiley & Sons, Chichester. (Available online via library; also 1996 & 2003 editions)
Robinson S (2014). Simulation: The practice of model development and use 2nd ed. Palgrave Macmillan: Basingstoke, UK (Available online via library: 1st ed 2004)
Hillier, F. and Lieberman, G.J. (2021), Introduction to operations research (11th ed), McGraw-Hill Education. (Available online via library)

Supplementary reading:
Pidd, M. (1998). Computer simulation in Management Science (4th ed), Wiley. Savage, S.L. (2009), The Flaw of Averages, John Wiley & Sons. (Available via library)
Holweg M, Davies J, de Mayer A, Lawson B and Schmenner RW (2018). Process theory: The principles of operations management. Oxford University Press: Oxford. (Available online via library.)
Slack N, Brandon-Jones A and Burgess N(2022). Operations management (10th ed.) Pearson Education: Harlow. (Available online via library.)
Additional background references may be listed with the material for the sessions - these are for interest and to provide more depth for interested students.
 

Informal Contact Methods

•    Office Hours
•    Online Discussion Board