3CO02 Principles of Analytics

3CO02 Principles of Analytics

SECTION 1

AC 1.1 Define Evidence- based practices and its impact within an organization.

Evidence based practices implies to process of taking decision in a judicious, conscientious and explicit manner by utilising evidences and documentation from the multiple sources. This process includes randomised controlled trials, case control studies, cohort studies, meta analyses and systematic reviews based on which decision are taken (Evidence based practices, 2023). It is the seven step process which aids in taking the most accurate decision that includes encouraging spirit of inquiry, questioning, research for evidence, appraising & integrating evidence, analysing and sharing outcome. Following are various examples in which Evidence based practices are used within an organization:

• Data driven decision: This practices could be used by manager for taking decision which assists in formulating the most accurate and reliable strategies. Company collects information through employees’ feedback, customer’s survey, performance measurement and operational statistics which act as the evidence for taking the decision (Bousdekis et al, 2021). This method helps organization in taking decision on the basis of proper data rather than intuition which enhances the efficiency of decision making process. ‘
• Evaluation and improvement: This practice is also used for evaluating actual performance of the organization with the set target based on which necessary actions could be initiated (Cecconi, Khodabakhshian and Rampini, 2022). This method includes analysing policies, practices and intervention of organization which helps in identifying the area of improvement. Evidence based practices tend to make focus on doing monitoring and assessment frequently which assists in determining all the weaknesses based on which accurate strategies could be drafted.

AC 1.2 Significance of utilizing Data for estimating problems and issue within organization

Data implies for the factual information, measurement or statistics which used as the evidence for discussion, reasoning and calculation (Chavez et al, 2022). It is the most invaluable assets of the organization which provides foundation on which future decisions are taken. Following are the various significance of managing overall accuracy of the data:

Enhanced decision making: Accurate data supports in describing information related to the internal working of the business entity which aids in determining the lacking points. Accurate information related to auditing, site inspection, customer feedback, incident reporting and market research will help in easily determining issue prevailing in the market based on which the most informed decision could be taken (Dash and Ansari, 2022). For Example: With the help of accurate information regarding the market research, manager will be able to estimate all the potential risk and opportunities that are prevailing in the industry. This will guide manager in taking the accurate decision which helps in enhancing the overall organization’s productivity.

Preserve brand credibility: Data accuracy also assists in building the trust and creditability of both internal as well as external stakeholders. With the help of internal data, company could draft adequate policies for an employee that aids in enhancing their satisfaction (Hamoud et al, 2021). For example: On the basis of employees’ survey company will be able to estimate the workers needs which guide them in taking the most accurate decision that enhances credibility. Along with this, decisions are taken on the basis of external data showcases the company’s concern over fulfilling the customer’s needs, maintaining their privacy and security which helps in gaining their trust.

Define root cause of issue: This is very significant to maintain accuracy of data as it helps in describing root cause of all the issues and problem. Accurate data will help organization in establishing cause and effect relationship between various elements which assists in identifying the root cause of issue that facilitates in taking accurate decision.

AC 1.3 Different type of data measurement used by people professionals

There are two types of data collected by people professional which includes qualitative and quantitative data. Following is the brief description of both type of data and their roles in taking decision:

Qualitative data implies for gathering information in the form of beliefs, perception, values and view point of the respondents (Korherr et al, 2022). Qualitative data also aids in identifying issues and problem that are faced by employees which help them in taking the most accurate decision. Following are the various qualitative data measurement which used for taking decision:

Absenteeism: This measurement technique is used to identify the reason behind the increasing rate of absenteeism within organization (Data measurement by people practices, 2024). In this, HR is involved towards determining all the issues and problems that may cause increase in absenteeism rate based on which accurate decisions can be taken.

Learning and development: People professional concentrated over identifying training needs of the employees by gathering data related to existing skill, abilities and educational achievements. This information is evaluated to identify the employee’s requirement based on which sessions are arranged.

Quantitative data implies for the information in the form of numbers and statistics which could be measured easily for deriving suitable outcome (Mokhtari et al, 2021). Below mentioned are the two quantitative data measurements which used by people professional for taking decision:

Rewards and performance: Company uses metric such as salary mode, sales figures and performance approval scores which aids in identifying the level of employee’s overall productivity. Based on this model, managers are able to decide the most accurate compensation and rewards for their workforce.

Workers’ engagement: People professional calculates the net promotion score and employee engagement metrics which help in identifying the employees’ engagement rate. This method guide’s manager in taking decision by which employees’ engagement level could be enhanced.

AC 1.6 Define the impact of agreed procedure and policies in Taking decision ‘

All the agreed policies and procedures have huge impact over enhancing efficiency of decision making process within the business entity. Below mentioned are some of the role, procedures and policies which considered in decision making as follows:

Compliance: Alignment with all the procedures and polices aids in avoiding the entire legal obligations which helps in managing overall reputation and goodwill of the business entity (Sarker, 2021). This strategy also aids in reducing the scope of penalties which contributes in managing the overall financial position.

Clarity and compliance: Procedures and policies document clearly exhibit all the expected action from employee which helps in reducing the scope of confusion. Further, policies describe all the potential impact of particular decision based on which the most accurate strategies could be formulated.

Fairness and Equity: This agreed procedure and policies aids in promoting transparency and fairness within the organization that helps in reducing the scope of conflicts (Taylor, 2020). Moreover, this policy helps in promoting accountability and transparency that aids in building trust between employees and management.

AC 2.1 Describe influence of people professional in developing values for organization, people and stakeholders

People professional supports in adequate working of organization by developing values for all the stakeholders. In the context of organization, HR manager is involved towards formulating strategies that aid in enhancing the employees productivity which ultimately result into higher profitability. They are also aiming at reducing staff turnover and absenteeism rate which aids in managing the overall cost of business entity (Taherdoost, 2022). Moreover, HR professionals also work towards enhancing the organization’s culture and employee engagement which facilitates higher creativity, innovation and customer’s satisfaction.

For developing the values for employees, HR professionals are focused on developing policies which aids in their overall welfare. In this context, training & development sessions are arranged which provide employees with an opportunity to enhance their skills and capabilities (Mezmir, 2020). Moreover, HR manager aims at offering adequate financial and non-financial incentives which aids in managing their engagement. Along with this, HR manager also creates values for wider stakeholders by ensuring that organization is aligning with ethical and sustainable practices. For example; HR manager promote diversity and inclusivity while hiring and managing employees which helps in avoiding the dissatisfaction.

AC 2.2 Describe manner in which you can be standard driven and customer focused

For becoming standard-driven and customer-focused, I will be focused on identifying the market needs, customer preference and issues which helps me in taking the most accurate decision. Further, I will set standard regarding the quality and ethics which employee’s should met while offering services to customer. This strategy helps in providing adequate services to the customers which ultimately enhances their satisfaction. Moreover, I will also lay emphasis over establishing the various seminars and workshop which aids in developing the customer’s oriented culture within the business entity.

This session will guide employees regarding the various measures that they need to undertake for providing adequate customer’s services. Moreover, I will also concentrate over conducting customer’s survey which helps in identifying their issues from the firm’s product and services. Beside this, checklist will be formulated which consist of all the benchmarks and target based on which employees performance will be measured. This checklist will direct me regarding the various changes which I need to undertake for attaining the customer focused goals successfully. Lastly, I will focus on enhancing my knowledge by communicating with seniors and mentors who will suggest me strategies for achieving the goals. 

SECTION 2

AC 1.4 Show percentage of workers leaving departments and total leaving rate of organization

For adequately understanding the overall performance as well as productivity of organization, statistical data and diagrammatically presentation has been used. This assist manager in adequately interpreting complex data based on which the most accurate decision could be taken (Lester, Cho and Lochmiller, 2020). Following table defines percentage turnover of different department within four consecutive years.

Year	2020	2021	2022	2023
Total	Leavers	% Turnover	Total	Leavers	% Turnover	Total	Leavers	% Turnover	Total	Leavers	% Turnover
Administration	22	4	18	20	8	40	20	9	45	18	2	11
Maintenance	9	5	56	9	3	33	8	3	38	7	1	14
Marketing	4	0	0	4	0	0	4	1	25	4	0	0
Production	231	70	30	198	32	16	178	38	21	181	29	16
People team	6	1	17	6	0	0	6	3	50	5	2	40
Research & Design	4	1	25	3	0	0	4	0	0	4	1	25
Sales	42	19	45	35	3	9	40	0	0	45	2	4
Packing and dispatch	36	21	58	15	6	40	16	8	50	15	3	20
Finance	5	2	40	4	0	0	4	0	0	3	0	0
Total	359	123	34	294	52	18	280	62	22	282	40	14

Percentage change of turnover rate of each department over four consecutive years

Interpretation: It has been identified that packing and dispatching department is having highest turnover rate in the year of 2020. On the other side, in the next year administration department is having lower retention rate. This in turn clearly shows that HR personnel faced difficulty in managing retention rate in the year of 2022 and 2023. This indicates that HR manager needs to take adequate actions which assist in managing overall retention rate of the organization.

Overall organization’s turnover rate for last four years:

From the above graph, it has been identified that there is no highest employee’s turnover rate in the year of 2020 which will negatively impact the overall productivity of organization.

AC.15 Findings of analysing to depict and problem and potential solution to overcome

On the basis of above graph and pie chart, it has been identified that there is a high employee turnover rate in the company which creates issue in attaining their goal successfully. In the year of 2020, corona virus is the major reason that associated with the high turnover but this situation does not improve even after pandemic over. It has been identified that employees within packaging department are not satisfied which creates major issue in managing turnover. This situation has risen due to the toxic culture, lack of growth opportunity and adequate recognition due to which manager is unable to retain the workers (Gao, Yu and Cai, 2021). To overcome the issue, manager should focus on arranging regular T&D sessions which helps in developing employee’s skill that aids in enhancing the overall satisfaction. Along with this, manager should recognize and appreciate the worker’s efforts that contribute towards developing the sense of belongingness which ultimately leads to higher satisfaction (Abid et al, 2022). Beside this, manager should adapt data driven decision which helps in identifying issue and problem of employees. Considering this, the most accurate decision could be taken that lead high customer satisfaction.

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REFERENCES

Books and Journals

Abid, N., Khan, A.M., Shujait, S., Chaudhary, K., Ikram, M., Imran, M., Haider, J., Khan, M., Khan, Q. and Maqbool, M., 2022. Synthesis of nanomaterials using various top-down and bottom-up approaches, influencing factors, advantages, and disadvantages: A review. Advances in Colloid and Interface Science, 300, p.102597.

Bousdekis, A., Lepenioti, K., Apostolou, D. and Mentzas, G., 2021. A review of data-driven decision-making methods for industry 4.0 maintenance applications. Electronics, 10(7), p.828.

Cecconi, F.R., Khodabakhshian, A. and Rampini, L., 2022. Data-driven decision support system for building stocks energy retrofit policy. Journal of Building Engineering, 54, p.104633.

Chavez, Z., Gopalakrishnan, M., Nilsson, V. and Westbroek, A., 2022. Exploring data-driven decision-making for enhanced sustainability. In SPS2022 (pp. 392-403).

Dash, B. and Ansari, M.F., 2022. Self-service analytics for data-driven decision making during COVID-19 pandemic: An organization’s best defense. Academia Letters, 2.

Gao, C.H., Yu, G. and Cai, P., 2021. ggVennDiagram: an intuitive, easy-to-use, and highly customizable R package to generate Venn diagram. Frontiers in Genetics, 12, p.706907.

Hamoud, A.K., Marwah, K.H., Alhilfi, Z. and Sabr, R.H., 2021. Implementing data-driven decision support system based on independent educational data mart. International Journal of Electrical and Computer Engineering, 11(6), p.5301.

Korherr, P., Kanbach, D.K., Kraus, S. and Mikalef, P., 2022. From intuitive to data-driven decision-making in digital transformation: A framework of prevalent managerial archetypes. Digital Business, 2(2), p.100045.

Lester, J.N., Cho, Y. and Lochmiller, C.R., 2020. Learning to do qualitative data analysis: A starting point. Human resource development review, 19(1), pp.94-106.

Mezmir, E.A., 2020. Qualitative data analysis: An overview of data reduction, data display, and interpretation. Research on humanities and social sciences, 10(21), pp.15-27.

Mokhtari, S., Nikzad, S., Mokhtari, S., Sabour, S. and Hosseini, S., 2021. Investigating the reasons for students’ attendance in and absenteeism from lecture classes and educational planning to improve the situation. Journal of education and Health promotion, 10(1), p.221.

Sarker, I.H., 2021. Data science and analytics: an overview from data-driven smart computing, decision-making and applications perspective. SN Computer Science, 2(5), p.377.

Taherdoost, H., 2022. What are different research approaches? Comprehensive Review of Qualitative, quantitative, and mixed method research, their applications, types, and limitations. Journal of Management Science & Engineering Research, 5(1), pp.53-63.

Taylor Jr, L.D., 2020. Neoliberal consequence: Data-driven decision making and the subversion of student success efforts. The Review of Higher Education, 43(4), pp.1069-1097.

Online

Data measurement by people practices. 2024. Online. Available through: < https://www.betterworks.com/magazine/9-best-practices-for-implementing-people-analytics/#:~:text=People%20analytics%20is%20the%20practice,of%20employees%20in%20an%20organization. >

Evidence based practices. 2023. Online. Available through: < https://www.asha.org/research/ebp/#:~:text=Evidence%2Dbased%20practice%20(EBP)%20is%20the%20integration%20of,your%20training%20and%20professional%20experiences>