Principles Of Analytics Assignment Sample

Principles Of Analytics Assignment Sample

Introduction: Principles Of Analytics Assignment

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Task 1

1.1 Evidence-based practices and their application

Evidence-based practice (EBP) is all about the use of surrounding evidence and an approach of critical thinking for the purpose of making sound decisions and informed action that ensure the desired impact. The use of such practices helps the people practitioner in terms of taking decisions by removing anecdotes that help to make the judgment more resilient as per the aspect or situation (McKinney et al. 2019).

In an organisational setting, the people practitioner uses such concept in the employee recognition as well as a selection of techniques for their development through expert opinion and background information support (Douglas and Bigby, 2020). The other example of EBP emphasizes the use of such a concept to measure the outcomes and designs for clinicians and patients. The development of a comprehensive EBP program has also been seen in the different levels of improving the care process. A cohort study is the other type of EBP that is used by the people practitioner as the form of behavioral analytics that helps to understand the performance improvement respectively.

The concept of the principle-led judgment deals with various types of values of the concerned organisation as well as it also arises from the various academic researches in the appropriate vision in order to make the several decisions in an appropriate manner. There are three principles that access to show the CIPD’s purpose and the principles are evidence-based, outcome driven as well as principles-led. Moreover, the appropriate framework of the shared values of the enterprise gives authorization to the human resource in order to build the trust that is helpful to develop as well as create positive changes in the concerned workplace. The “CIPD Profession” map is responsible for breaking down the values related to the profession of the concerned industry. The principle-led judgment majorly deals with the concept of “sees beyond rules to do what’s right” since the decisions, behaviors, as well as actions of the organisation need to be clear for the appropriate changes of the concerned firm. Professional value is a proper framework that helps to share the values of the organization as well as allows the human resource to establish the trust that is created in order to develop significant positive changes in the concerned workplace.

1.2 Importance of using data to assist organisational improvements 

Data is the core element to foster rational decision-making in an operational way that leads to informed action and strategic growth. People practitioners in the way of decision-making use various sets of data such as predictive, descriptive, and inferential to satisfy the expected outcomes. Descriptive data allows for defining the situation by providing the quantities or grades, whereas predictive data allow coming to a solution by comparing the outcome of the larger population (Lemieux et al. 2018). Besides, inferential data offer the drawing of conclusions within the smaller subset of the group. By implying various types of data the people practitioners not only benefited from quality improvement but are also capable of measuring the performance.

The accurate, ethical, and timely data help the people practitioners to come to a judgment that is bias-free thereby creating an effective impact on the required aspect. It has been seen that recording, storing, and access of the personalized data help to take suitable decisions that in turn enforce the organisational growth in various dimensions (Chiwaula et al. 2018). In addition, knowledge management helps to spread the organisational objectives, increase flexibility, and individuals' practice efficiency that ensures organisational growth.

Storage management plays a very significant role in the various organisations since it helps the different organisations in searching an appropriate balance between the performance, costs, as well as storage capacity of the concerned enterprise. Using the storage of personal access has the ability to improvise the management effectiveness of various organisations. Additionally it can be claimed that there are various benefits of using the storage management since it helps the management department of the organisation to save their time since all the data of the enterprise are stored in a proper manner. One of the major benefits that have been noticed in the storage management of the organisation is it helps to reduce the costs as well as improves security for the collected information. Additionally, it can be claimed that using storage management promotes adaptability since due to the various circumstances business environment change as well as grow, and with that the needs for storage of the organisation also changes. Moreover, it can be stated that the promotion of adaptability within the organisation makes the different organisations “more adaptable” to the significant changes. It also allows the firms to adopt the new storage capabilities with their growing needs.

1.3 Different types of data information and measurements used by people professionals 

Data measurements and analysis is pivotal nowadays to gain the relevant information that is used to inform decision-making and interpret the financial info. People practitioner uses various types of data information and measurements to support decision making and also easily collate and collect accurate information. In the aspect of tracking productivity, the people practitioner uses the quantitative data set that is measured with the help of an ordinal scale (Lehane et al. 2019). This type of data measurement is used to identify the purpose on a categorical scale. Some limitations under this type of data measurement include data cannot be subtracted, divided, or multiplied from one another.

Besides, qualitative data is used by the people practitioner to report the human observations and record the employee's performance effectively. In this prospect of data set, the nominal scale of measurement is commonly used by the people practitioner to understand the degree of occurrence and extract answers to the questions (Brownstein et al. 2019). Additionally, the use of both type of data measurements for different data set can help the people practitioner to eliminate the bias, and measure the variables that contribute to the drawing of expected conclusions regarding the context.

1.4 Explanation of the application of organisational policies, and procedures to support appropriate decisions and choices

Organisational procedures, policies, and other forms of evidence help to shape the organisational structure as on the base of such elements decision-making fluctuate within the organisational settings. It has been seen that business firms use procedures and policies as a guideline to improve organisational morale that in turn results in workforce productivity as well as meeting of strategic choices in business (Reed et al. 2018). Besides, the set up of organisational policies helps to maintain consistency in the operational activity along with the development of employee relationships.

Having a supportive organisational structure complies with policies and procedures the business organizations are benefited from the optimization of the operation and increased efficiency. Furthermore, company policies also help to take informed decisions with the array of organisational morale and availability of bias-free information (Johnson et al. 2018).

The aspect of decision-making is an essential part of several organisations since it helps the different organisations to increase their profit margin in the market (Rigo et al. 2020). The decision making also helps business organisations in order to achieve various objectives as well as goals within a specific given budget as well as time (Panwar et al. 2019). As an example for making an appropriate plan for the concerned organisation there is a need for appropriate decision making by the leader of the organisation. Additionally, proper decision-making for the concerned plan helps the organisation to execute its plan in order to increase its brand value in the present market. Appropriate decision making is also very significant for the business since it has the ability to make better policies for the concerned organisation as compared to their competitors. As per the study, it has been gathered that the procedure of decision-making is the backbone for the appropriate management of the business since a proper decision has the ability to manage the organisation in a proper manner. As an example, for the selection of the employees within the organisation a proper decision is needed and based on the criteria the employees of the organisation are selected. The procedure for the appropriate decision-making helps to decide the best option which is suited for the appropriate planning of the business. 

1.5 Ranges of external and internal stakeholders and consumers and their influencing role 

In the various operational activities, it has been seen that people professionals deal with external and internal stakeholders and consumers for the better management of the operational activity as well as for endorsing the business success. The internal consumers such as stakeholders and shareholders are those who have a direct relationship with the organization in the form of partnerships or employees (Lefebvre et al. 2020). On the path to business success, the engagement of the internal consumers is crucial for ensuring the fulfillment of the market needs and makes the operation more resilient.

Besides, articulation of the consumer's values helps to shape the outcome of the business. On the other hand, external consumers are those, not directly connected with the business and pay for the organisational product or services. It can be stated that the presence of the external consumers is essential as without them businesses cannot garner any revenue (Mnunguli and Kisangiri, 2018). People practitioners provide critical knowledge or approach to address the internal and external consumers for a better stake in the organisational success and also meeting of strategic choices.

The internal stakeholders play a very significant role within the various organisations since they are the primary stakeholders of the business. The Internal stakeholders offer various types of services to the various firms for the positive outcome of their business. Additionally, it can be claimed that the internal stakeholders are most importantly influenced by the various decisions, outcomes as well as performance of the concerned company. The role of the internal stakeholders usually deals with the financial interest of the enterprise. As an example, the internal stakeholders such as employees as well as shareholders are responsible for the positive growth of the enterprise. For example, the employees of the business can reduce the operating costs as well as make a “customer loyalty” program in order to increase the brand value of the business. The major role that is played by the external stakeholder is to get the best possible service as well as products from the business. On the other hand, it can be claimed that the external stakeholders have a very significant value in a respective business in order to monitor the various business activities. Additionally, the external stakeholders also include the creation of various types of basic expectations from the different firms. The major role that is played by the external stakeholders is to ensure that the services, as well as products, are safe in the market. As an example, a food business is selling their food items in the market and it is the responsibility of the government to check that the food items are safe to eat or not.

1.6 Explanation of creation of values and identification of its benefits

Value creation is achieved by sustained development, informed actions, wellbeing’s and access to a quality life in the organisational setting. People professionals in the way of creating values within the operational path play an effective role by offering guidance and streamlining the overall activities with the company’s objective (Bond and Drake, 2020). In various ways, the organization can develop value towards its people such as consumers, stakeholders and investors for retaining sustainability in the operation. By maximizing the human potential, performance measurement, offering compensation, learning, development and others way people practioners ensure the generation of expected values towards people and by offering it business firms also add values in their business. On the other hand, the development of clear procedures or policies also helps the people practioners to create values towards employees, consumers and stakeholders that in turn help to enhance the sound investment in businesses.

The major role that is played by the HR is to manage the benefits as well as payments for the enterprise. The HR of the enterprise has the ability to create value within the firm since it includes professional advice along with administrative advice. Additionally, it can be claimed that the HR also creates value within the organization by working on the major issues for the positive outcomes of the concerned business. HR also works on major issues such as the engagement of the employees as well as it also motivates the employees to perform their job roles in a better manner. There are various strategies by which HR is able to improve employee engagement such as investing in the well being of the employees of the organisation. The other strategies also include defining the purpose of the concerned organisation as well as recognizing the good work of the employees. As an example, the HR of a retail industry can improvise their employee engagement by motivating the employees so that they are performing their job roles in a proper manner. Based on the above example it can be claimed that HR creates a huge incentive for the promotion of employee engagement in order to perform their job roles in the enterprise.

1.7 External and internal use of social media to improve organisational practices and communication 

In the modern era, with the introduction of information technology, the way of business greatly evolved and resulted in both positive as well as negative aspects. It can be stated that, business communication includes both external and internal modes to connect management and employees. External communication occurs among the organization and vendors or others that is facilitated by the various networking platforms such as Twitter, Face book, Instagram and others (Mpofu et al. 2019).

Social media plays a very crucial role in the aspect of communication especially for the HR of the business as well as it also has various types of external along with internal opportunities (Zak and Hasprova, 2020). As an example, HR uses various types of social media platforms such as Facebook, Instragram in order to communicate with the members of the organisation. Additionally, it can be claimed that social media is the appropriate structured way that allows HR to share their views. Moreover, it can be claimed that the conversations have changed in a drastic way in both the aspects externally as well as internally of the organisation. The HR of the different organisation uses the platforms of social media in order to create a dialogue. On teh other hand, it can be stated that the major function of the HR within the organisation is to deal with the employees of the organisation related to the recruitment, payroll as well as employee engagement.

1.8 Good practice examples and explanation of people professionals' performance benefits 

People practitioners play an integral role in influencing the external and internal customers and fostering an open culture within the organization. It has been seen that people practitioner also benefits the employees by serving as a source of counsel, knowledge and information. The development of the accurate code of conduct, as well as the integration of suitable behaviors, is also accelerated by the people practitioners. Besides, in the path of building a sense of belonging and integration of proper ethics, people practitioners act as a mediator that helps to enhance organisational performance (Locke et al. 2019). In the area of employee recruitment, their empowerment, meeting of their needs and others, the people professionals benefited the organization with their effective management ability which results in business profits as well.

1.9 Voluntary role to achieve and maintain consumer satisfaction 

There are numerous ways that can be adopted by the people professionals to be consumer-centric, so that set a revolutionary way of the company operation(Miller, 2018). They can also facilitate organisational performance through developing the right skills and organisational morale. In the aspect of being more consumer-focused, the people professional need to access the consumer's feedback and recognize the best for the employees that in turn help to better handle the consumer's demand. Besides, the development of the employee-related practice can help to improve the consumer’s satisfaction.

 Based on the above study it can be concluded that customer retention is the most significant part in order to build residual revenue. Additionally, it can be claimed that customer retention is known to be more cost effective as compared to acquisition which is more costly in order to attract the new customers of the business instead of retaining the existing one. On the other hand, it can be claimed that the customer focussed on a working environment can deal with collecting the various feedback regularly from the customers. Additionally, making the customer service in a proper way helps to meet the needs of the customers in order to achieve the goals of the organisation. The operational metrics measure as well as track the performance of the various customer service agents. The organisational metrics also have the ability to focus on the customer experience.

Task 2

2.1 Interpretation of common calculation and basic financial information

2.1.1 Tables of percentages

Research and design	Number of employees agreed	Percentages
Workload	187	45.38%
Flexible schedule for employees	288	69.90%
“Work from home” facility	347	84.22%
Using initiative for job role	384	93.20%
Development of skills	377	91.50%
Additional work	388	94.17%

Table 1: Research and design

 

Administration	Number of employees agreed	Percentages
Work pressure	58	89.23%
Development of skills	21	32.30%
Job security	51	78.46%
Finishing the work	61	93.84%

Table 2: Administration  

Marketing	Number of employees agreed	Percentages
Flexibility in working hours	18	100%
Using own initiative	15	83.33%
Opportunity for developing skills	14	77.77%
Values of line manager	12	66.66%

Table 3: Marketing

2.1.1 Analysis of trends and patterns

Table 1 is based on the research and design the aspect consists of 412 employees in the aspect of workload. Additionally, the employees who bly agree on the workload aspect are 187 employees and its toral percentage is 45.38%. The number of employees who agreed with the flexibility time of the employees is 69.90%. Table 2 of the study deals with administration in that 58 employees agreed on the matter related to the work pressure with 89.23%. The aspect of job security is agreed by 51 employees with 78.46%. Additionally, the aspect of marketing consists of using own initiative and this is agreed by 15 employees with 83.33%. On the other hand, 14 employees agreed on Opportunities for developing skills with 77.77%.

2.1.3 Calculation of lost in different departments

Department	Lost hours	Lost days in three months
Research and Design	1876 lost hours	78 days
Administration	237 lost hours	9 days
Marketing	20 lost hours	0 days

Table 4: Lost days in three months

Based on table 4 there are four departments which consist of research and design, administration as well as marketing. The lost hours of the research and design departments are 1876 and in three months it is 78 days. Additionally, the department of administration lost 9 days in three months followed by the marketing department lost 0 days in three months. 

2.1.4 Estimation of lost days

Department	Lost hours	Lost days in twelve months
Research and Design	1876 lost hours	312
Administration	237 lost hours	36
Marketing	20 lost hours	0

Table 5: Lost days in twelve months

Based on table 5 it can be analyzed that the department of research and design lost 312 days in twelve months. Additionally, the department of administration lost 36 days in twelve months followed by the department of marketing lost 0 days in twelve months.

2.1.5 Calculation of lost payments

Department	Average hourly pay	Lost pay in three months
Research and Design	£35.00	£ 65,660
Administration	£35.00	£ 2,962.5
Marketing	£28.00	£ 560

Table 6: Lost pay in three months

Based on table 5 it is analysed that the department of administration lost £ 2,962.5 in three months. Additionally, the department of research and design lost £ 2,962.5 in three months followed by the department of marketing lost £ 560 pay in three months.

References

Journals

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