The third assignment aims to develop research, analysis and communication skills by focusing on the soft end of the analytics spectrum, human decision-making. In the attached research article, ‘Does...

The third assignment aims to develop research, analysis and communication skills by focusing on the soft
end of the analytics spectrum, human decision-making. In the attached research article, ‘Does the brain
calculate value?’, Vlaev et al (2011) present cognitive science perspectives on how the human mind
chooses between options, they posit a wide spectrum of decision-making scenarios, from ‘value-first’ to
‘comparison-only’.
The assignment comprises two dependent tasks. Firstly, read and understand the form and function of
human cognition in such decision-making scenarios. This would be largely based on Vlaev et al (2011)
research article but you should refer to other relevant/related research articles for further insights. Note
the variety of decision/choice theories associated with this phenomena presented in Table 1, Vlaev et al
(2011). Document your findings in the form of a literature review.
Second task is to apply knowledge and skills acquired in this subject, Principles of Business Analytics, to
explore the role of analytics and data-driven decisions in advancing/supporting/guiding human cognition
in decision-making. You may refer to research literature, but this task should predominantly be an original
contribution based on your understanding of the analytics discipline and current learning outcomes. For
instance, consider the role of analytics in business scenarios from topics 1-4, function of self-style analytics
solutions from initial tutorials, purpose of descriptive, inferential techniques and probability theory in
formulating decisions (topics 5-7) and also expectations of performance management from topics 8-9.
Document the outcomes of this task as a subsequent topic (or topics) in the report.
Optional - Based on your observations in the second task, make an effort to reflect on extensions to the
cognitive science take on decision-making as presented by Vlaev et al (2011) (or any other work you may
find).
Report guidelines
1. Choose a fitting sequence of sections/topics for the body of the report. Two sections for the two tasks
are essential, you may add other sections deemed relevant.
2. Page limit: 3-5 pages (not more than 5 pages).
3. Report should be written in Microsoft Word (font size 11) and submitted as a Word file.