Data Informed Decision Making

This subject is available under ICMS undergraduate degrees, please click the button below to find an undergraduate course for you.

Subject Code:

STA101A/STA101B

Note: Both A and B code subject versions are displayed as they are approved equivalent in content, assessments and learning outcomes. As ICMS courses are reaccredited, the subject is updated to a B-code suffix. Students studying a Bachelor of Business, Bachelor of Business (Sports Management), Bachelor of Business (Entrepreneurship and Innovation), Bachelor of Business (Marketing), Bachelor of Business (International Tourism), Bachelor of Event Management and Bachelor of Hospitality Management will be enrolled in STA101B in 2027. Students enrolled in all other courses at ICMS with this subject will complete STA101A.This arrangement applies to the nested Diploma qualifications of these courses also.

Subject Rationale:

STA101A

In order to make the right decisions as a business manager it is vital you have a basic understanding of statistical practice and how it is applied in a business situation. This subject provides a broad introduction to statistical concepts and techniques for data analysis. It aims to demystify the subject; training you to organise, analyse and make sense of data in the workplace and in everyday life.

In this subject we will develop new insights and understanding by being able to extract and summarise information from the rich data sets readily available in today’s business environment. This includes interpretation of statistics and business data, identification of useful models of both the operations and the environment of a business; and responding appropriately as managers to quantitative information and quantitative models to make better business decisions.

STA101B

In today’s data-driven business environment, managers must be able to interpret and apply statistical information to make effective decisions. This subject introduces first-year students to foundational statistical concepts and basic analytical techniques, providing a practical framework for understanding how data informs business strategy and operational choices.

Students will learn to organise, analyse and interpret data using digital tools such as Microsoft Excel and other introductory analytics platforms, developing essential data literacy and technology skills for modern business practice. The subject emphasises the integration of digital technologies for data visualisation, simulation and reporting, enabling students to extract meaningful insights from complex datasets and apply these insights to real-world scenarios.

Through hands-on activities, case-based learning and applied exercises, students will explore how managers use quantitative data to make evidence-based and informed decisions. By connecting statistical methods with digital workflows, students will gain the analytical mindset and practical competencies needed to participate confidently in data-informed decision-making within contemporary organisations.

Learning Outcomes:

STA101A

a) Interpret statistics to make better business decisions.

b) Interpret data graphically and numerically.

c) Collect representative samples of populations.

d) Draw conclusions about populations with statistical tests.

STA101A

a) Interpret foundational statistical and data analytical techniques to analyse business data and support informed business decision-making.

b) Evaluate numerical and graphical data to generate business insights.

c) Collect representative samples of populations to ensure suitability for analysis in business contexts.

d) Draw and communicate evidence-based conclusions using appropriate analytical methods

Student Assessment:

Note: (G) = Group Assessment