IITM BS Business Data Management (BSMS2001): Syllabus and Tips

Business Data Management (BSMS2001), known as BDM, is a 4 credit course in the Diploma in Data Science. It gives you the business side of data work: basic economics, how businesses buy and sell, Excel, financial accounting and ratio analysis, management accounting, B2B selling, negotiation and handling service failures. The course page lists no prerequisites. As a diploma course, it opens only after you pass all 8 foundation courses.

The course page names three instructors: Dr. Ashwin J. Baliga of IESEG School of Management, Prof. Siddharth Arora of The College of Westchester in New York, and Dr. Aaditya Chandel, Research Scientist at IIT Madras.

The handbook agrees on 4 credits and lists BDM among the fixed courses of the Diploma in Data Science. It does not print the course code.

What you learn

• Weeks 1 to 3: economics and business basics. An introduction to economics, demand and supply curves, elasticity, the difference between B2C and B2B business, services, how organisations make buying decisions, and sales techniques.
• Week 4: Excel. Live sessions that go from basics to advanced.
• Weeks 5 to 9: accounting and finance. The balance sheet, the accounting equation, the income statement, dividends, recording transactions, inventory valuation, depreciation, the cash flow statement, financial ratios for liquidity, solvency, efficiency, profitability and market value, a case study, then management accounting and how costs are classified.
• Weeks 10 to 12: selling, negotiation and service. The seven steps of professional B2B selling, from finding prospects to after sales. Then negotiation traps, dashboard and KPI ownership, conflict, data protection and trust, and how B2C and B2B companies recover from service failures.

How it is assessed

The course page lists 12 weeks of coursework, weekly online assignments, 2 in-person invigilated quizzes and 1 in-person invigilated end term exam. It does not mention an OPPE. The BDM project is a separate course (see below).

Where it counts

• Diploma in Data Science. BDM is one of the fixed 21 credits every student in this diploma must pass, with MLF, MLT, MLP, TDS and the MLP project. See the Diploma in Data Science.
• Option 1 of the diploma. Option 1 is Business Analytics plus the BDM project. The Business Analytics course page lists BDM as its prerequisite. The BDM project course page lists BDM as its corequisite, so take BDM before the project or in the same term.
• Start the project early. If you pick Option 1, the handbook advises registering for the BDM project by your 2nd term at the diploma level. It says students typically need at least 2 to 3 terms to finish it. See diploma level checkpoints.
• No minor. BDM is not in a minor. If you like this side of the programme, the Economics and Finance minor continues it at the BS level.

Who finds it hard and how to prepare

If you come from science or engineering with no commerce background, weeks 5 to 9 bring a lot of new words and a strict logic. Every transaction must keep the accounting equation balanced. If you studied commerce, those weeks will feel familiar, but the selling and negotiation weeks may still be new.

• Practise Excel before week 4. The course names MS Excel. Practise formulas, sorting, filtering and simple charts, so the live sessions build on something.
• Check every entry against the equation. Assets equal liabilities plus capital. If an entry breaks it, something is missing.
• Make a one page ratio sheet. For each ratio, write what it divides and what a high or low value means.
• Use a real annual report. Pick any listed company and work out three or four ratios yourself. Real numbers make the chapters stick.
• Attach an example to each selling step. Write the seven steps from memory, then add one real example of each.

What to take before and after

• Before: all 8 foundation courses. No other course is listed.
• With or after: the BDM project and Business Analytics if you choose Option 1.

Common questions

Do I have to take BDM if I choose Option 2?

Yes. BDM is part of the fixed 21 credits for everyone in the Diploma in Data Science. Option 2 replaces only Business Analytics and the BDM project, not BDM itself.

Is the BDM project part of this course?

No. It is a separate 2 credit course, BSMS2001P, with BDM as its corequisite. You need it only if you pick Option 1.

Do I need a commerce background for BDM?

No. No prerequisite is listed, and the course starts from the basics of economics and accounting. Expect to spend extra time on weeks 5 to 9 if the topics are new to you.