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Two thumbs up for statistics education

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Data analysis skills have always been a pillar of quality appraisal work. Today, with the explosion of data sources the ability to manage and evaluate data is more important than ever. The Appraisal Institute of Canada has responded to this need by encouraging the development of the University of British Columbia (UBC) BUSI 344 course on 'Statistical and Computer Applications in Valuation,' and endorsing it as a requirement for designation. While it can be acknowledged that the first couple of terms for BUSI 344 were rough for students, as UBC worked out the kinks, subsequent terms have improved greatly and the student success rate is high. BUSI 344 is a degree credit course within the UBC Diploma in Urban Land Economics. The course, which is broadly comprised of 10 lessons and two projects, examines how statistics and computer applications can be applied in a wide variety of valuation contexts.

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									     Learning Advisory
                                                                                                                                   By Charles Abromaitis, AACI
                                                                                                                               Member, Learning Advisory Committee


      Two thumbs
      up for statistics education

     D             ata analysis skills have always been
                   a pillar of quality appraisal work.
                   Today, with the explosion of data
      sources, the ability to manage and evaluate
      data is more important than ever. The Appraisal
      Institute of Canada (AIC) has responded to this
                                                           appraisal community. Their primary concern is
                                                           that BUSI 344’s content is not relevant to typical
                                                           appraisal practice.
                                                                While it can be acknowledged that the
                                                           first couple of terms for BUSI 344 were rough
                                                           for students, as UBC worked out the kinks,
                                                                                                                2) BUSI 344 is about computerized mass
                                                                                                                   appraisal, and should be left to the assessment
                                                                                                                   students. I have no intention of working as an
                                                                                                                   assessor.

                                                                                                                    “The future of appraisal
      need by encouraging the development of the           subsequent terms have improved greatly and
      University of British Columbia (UBC) BUSI 344        the student success rate is high. The criticism            does not lie in more
      course on ‘Statistical and Computer Applications     that remains for BUSI 344 chiefly falls into two          or better data, but in
      in valuation,’ and endorsing it as a requirement     categories:
      for designation. Yet, since its 2007 introduction,   1) I will never use most of this content in my            how well you extract
      the BUSI 344 course has met with skepticism             appraisal practice; what is the point of                 meaning from it.“
      from some students and a vocal minority of the          studying it? and




                                                                                                                                  click here to return to table 0f contents
34    Canadian Property Valuation Volume 54 | book 2 | 2010 Évaluation Immobilière au Canada
BUSI 344 structure and content                                                                                 but later in your career you realize it was all part
BUSI 344 is a degree credit course within the                 “Appraisal education      
								
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