Principles Of Analytics Assignment Sample

Principles Of Analytics

INTRODUCTION - Principles Of Analytics

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Task 1: Presentation with presenter’s notes

S1: Overview of evidence-based practice (1.1)

• Evidence-based practice is considered the core idea through which occupational practices ought to base on scientific evidence (Leuz, 2018).
• Presence of this practice within an organization helps to make better decisions and informed actions that have such desired impacts.
• Performance management can be considered an example of evidence-based practice in the context of HR (Human Resources).

In the case of performance management, the ability to identify the different types of avenues for rating as well as assessing the performance of workers is suitable to identify the workplace strength effectively. Based on this, principle-led judgment can also be conducted here to facilitate the workplace strength more for getting effective outcomes. For example, focus can be provided on Tesco where the “Tesco Steering Wheel” is used to drive the performance of employees most effectively. It is also the key performance indicator to evaluate the market performance of the organization more suitably. This steering wheel has mainly “four 90 degree arcs” in which operations, employee performance, customer, and financial contexts are included. Thus, in this context, it can be stated that the aforementioned example of evidence-based HR is relevant enough to ensure effective outcomes for the business firm.

S2: Contd. (1.1)

• Employee recognition can be considered another example of evidence-based practice.
• This type of approach is suitable enough to enhance the satisfaction level of employees most effectively (Singh, 2019).
• The selection technique is another example of evidence-based practice where candidate response matters severely.

Employee recognition matters most to identify the skilled workers within an organization and also to retain them in the long term aspect. Based on the employee recognition in Tesco, it is observed that the organization uses creative methods as well as financial and non-financial rewards to enhance employee engagement. In the case of the selection technique of Tesco, it is observed that educational skills and job history matters most here to hire skilled personnel. The person specification is also well maintained here regarding the specific job roles. Both the evidence-based practices are highly effective to evaluate the internal business contexts of the business firm that can help the management to take necessary actions as required. Principle-led judgment can also be easily conducted in this regard to adapt the best possible approaches as early as possible to gain suitable outcomes.

S3: Explanation of using data to assist the organizational improvements (1.2)

• Data helps to facilitate the organizational improvements on a b aspect as it allows organizations to determine the cause of problems more effectively.
• Presence of timely, ethical, and accurate data helps to track the organizational performance more suitably (Endenich and Trapp, 2020).
• It is also relevant to get a clear understanding of the performance of the business model of a particular organization.

The existence of relevant information is beneficial enough to measure the success of an organization and along with it; productivity of the employees can be well maintained also. Thus, from the above context, it is quite clear that in order to track, monitor as well as evaluate the organizational improvements on a frequent basis, it is essential to use accurate data. Ethical and timely data are beneficial enough to monitor the ethical progress of business to examine whether in the upcoming era the organization can go through such legal issues or not. Lack of ethical and legal compliance can affect the entire business structure severely.

S4: Different types of data measurements (1.3)

• Data measurements are considered the relevant context through which it is possible to provide better insights to people professionals.
• Descriptive analytics and predictive analytics can be used by people professionals to ensure effective decision-making (Matias et al. 2019).
• Both the data measurement aspects are beneficial enough to illustrate the appropriate outcomes as per the collected information.

With the help of descriptive analytics, it is possible for an individual to conduct informed decision-making by converting complex information into “easily understandable insights”. Based on the insights of datasets, this type of data measurement develops relevant results. It is also considered a flexible data analytics through which it can be possible to cater to several types of business needs. In the case of predictive analytics, it can be stated that “evidence-based insights” are well gained through this and it is suitable enough to prevent such fraud in this context. Fulfillment of business goals is also well conducted through this aspect and the development of future strategies can also be well conducted here. Predictive analytics can be able to conduct future predictions as well which helps to make effective business decisions.

S5: Effectiveness of organizational policies, procedures, and other forms of evidence (1.5)

• Organizational policies and procedures are effective to ensure compliance with such laws and regulations and also give guidance for decision-making.
• These are also relevant enough to streamline the internal processes of the business most effectively (Johnson et al. 2018).
• With the help of relevant evidence, it is possible for a business firm to judge the existing choices regarding business decisions and identify the best one.

Organizational policies are capable to shape the organizational structure in such a way as such business decisions are dependent on them. The other forms of evidence are also beneficial to highlight the market situation in which the business operates and along with it, the success of the company and employee productivity is also well measured in this context. Thus, from the overall aspect, it is clear that the presence of accurate organizational policies, procedures, and other forms of evidence is essential to identify the position of an organization properly.

S6: Range of internal and external customers and stakeholders (2.1)

• In the case of internal customers and stakeholders, employees, shareholders, investors, and suppliers can be considered.
• External customers and stakeholders such as existing consumers, government agencies, and wider community are considered here.
• It is essential to maintain the proper satisfaction level for both individuals to enhance business growth.
• Salvioni and Gennari (2019), stated that fulfillment of customers' and stakeholders' needs is essential to gain high preference in a competitive market.

It is essential for business professionals to create value for people, and organizations with wider stakeholders such as quality products or services to fulfill needs, prioritizing quality over price, and more. Creating value for the people is beneficial enough to gain high satisfaction as well as consumer engagement in a large context. Creation of value for the organization is effective to facilitate the business growth along with developing the scope for high revenue structure. Creation of value for the stakeholders is essential to retain them and also to ensure their b support for the business firm. For example, focus can be provided on ASDA, and this organization is able to create value for people by facilitating the "low-cost needs" of the customers with sustainable choices. Creation of value for an organization, ASDA uses the "sustainable growth platform" to make its business profitable enough. For stakeholders, the organization tries to understand each of their needs and expectations along with a proper fulfillment to ensure a high satisfaction level for them.

S7: Creation of value (2.2)

• Creating value as a people professional indicates the fact that brings people's perspectives to the business decisions.
• It is essential to put people at the center of organizational approach to secure long-term customers (Woo et al. 2019).
• This aspect is also fruitful to put distinct meaning to the particular brand such as increasing business uniqueness.
• Stakeholder value creation is effective to gain a supportive group of stakeholders that enhances competitive benefits.

Based on the above context, it is quite clear that creation of value by people professionals for the customers and stakeholders has multiple benefits. Creation of value helps to set a business apart from the competition that helps to gain customers’ attention more easily. Securing long-term customers and having brand uniqueness is also effective to enhance business profit by creating a large customer base. For example, Unilever is able to create consumer value by providing products as per their needs. For the stakeholders, Unilever takes care of them such as accelerating “sustainable stakeholder value creation” effectively.

S8: Importance of works of people professionals (2.4)

• People professionals support the vision and goals of an organization that supports high engagement and good practices.
• The capability to encourage employees by people professionals helps to enhance employee commitment.
• The free mindset and openness of people professionals help to promote the adaptation of open cultures (Leitão et al. 2019).
• The performance of people professionals matters most to facilitate organizational benefits.

For example, in Compass Group of UK, presence of effective skills and capabilities of people professionals help to manage the workforce culture by setting an ethical and professional workplace environment. Presence of a flexible working schedule and an inclusive and appreciative working environment is effective to promote employee engagement here.

S9: Effectiveness of social media (2.3)

• In an internal context, social media can be used to facilitate horizontal and vertical communication across the organization remotely.
• Workplace ideas and knowledge are also quickly spread for improving the efficiency level (Ali Qalati et al. 2020).
• In an external context, social media can be used as a significant way of brand promotion.
• Through this aspect, it is also possible to facilitate the business growth severely.

The risk that is associated with the internal use of social media is the quick spread of false information. It can enhance a high level of confusion among the workers regarding job activities. As per the external context, the use of social media for brand promotion can leak confidential information about the business or the organization. Thus, it is essential to ensure the appropriate use of social media to gain positive outcomes only.

S10: Maintenance of customer-focused attitude (2.5)

• In order to achieve and maintain a standard-driven attitude, it is essential to have a b professional mindset (Beier et al. 2019).
• For example, a delicacy in the job responsibilities and ability to maintain them properly is effective to conduct job activities accurately.
• For developing a customer-focused attitude, consideration of customer feedback can be taken into consideration.
• Customer-focused approaches need to be promoted as well to ensure high customer satisfaction.

Based on the above context, it is quite clear that both standards-driven and customer-focused attitudes are required to ensure high customer satisfaction. Standard-driven context is suitable to maintain the business activities as accurate enough to fulfill each of the necessities of individuals. Customer-focused attitude is effective to understand the needs and wants of customers more suitably.

Task 2: Data analysis part

1. Reviewing of sets of raw numerical data

The calculation has been done properly in order to find out the percentages to illustrate the results [Refer to Appendix].

2. Analysis of tables

Based on the table of research and design, it has been observed that the maximum percentage regarding agree or bly agree is 93.0%. This response is based on the statement that "I have scope to use my own initiative in my job role". In the case of disagree or bly disagree, it is observed that the high percentage is 90.0% that is come from the statement that "I am aware that the organization has an opportunity to job share". In case of administration, the highest percentage for agree or bly agree is 93.0% based on the statement "I am expected to complete my work outside of my contracted hours". The highest percentage regarding disagree or bly disagree is 89.0% based on the statement which is "absence rates in my department are low". As per the marketing, it has been found that the highest percentage regarding agree or bly agree is 100% on the statement that "The organization provides flexi-time". In case of disagree or bly disagree, it has been identified that the high percentage here is also 100% regarding the statement that is "I am allowed to work from home". From the last table such as "The absence rates over a three month period", it has been observed that the total working days lost are 87.83 days (approx.) and along with it, the projected average loss is £351.32. Moreover, the "costs of pay during the 3 months" is £351.320.

3. Calculation of lost working days

Loss of working days for research and design= 1876/24= 78 days (Approx.)

Loss of working days for administration= 237/24= 9 days (Approx.)

Loss of working days in marketing= 20/24= 0.83 days (Approx.)

The total lost working days is= 78+9+0.83= 87.83 days (Approx.)

From the above context, it is quite clear that a large number of working days have been lost that can be able to affect the business growth severely.

4. Estimation of the projected average loss

The average loss of the working days for the research and design is= 78 days*4= £312.00

For the administration, the average loss is=9 days*4= £36.00

For the marketing, the average loss is= 0.83 days*4= £3.32

Thus, the total loss in this context is= £312.00+£36.00+£3.32= £351.32

Based on the above context, it can be concluded that the projected average loss is high enough and it needs to be reduced properly to gain effective outcomes.

5. Calculation of cost of pay

The cost of pay during the “3 month period” for the research and design is= £312.00

Cost of pay regarding the administration is= £36.00

Cost of paying for the marketing is= £3.32

Thus, the total cost of pay in this context is= £312.00+£36.00+£3.32= £351.32

From the entire context, it can be evaluated that the cost of pay in the case of assuming all absentees are contractually paid, the cost structure is also high.

Reference list

Ali Qalati, S., Li, W., Ahmed, N., Ali Mirani, M. and Khan, A., (2020). Examining the factors affecting SME performance: the mediating role of social media adoption. Sustainability, 13(1), p.75. . https://dx.doi.org/10.3390/su13010075

Beier, M.E., Kim, M.H., Saterbak, A., Leautaud, V., Bishnoi, S. and Gilberto, J.M., (2019). The effect of authentic project?based learning on attitudes and career aspirations in STEM. Journal of Research in Science Teaching, 56(1), pp.3-23. DOI: 10.1002/tea.21465

Endenich, C. and Trapp, R., (2020). Ethical implications of management accounting and control: A systematic review of the contributions from the Journal of Business Ethics. Journal of business ethics, 163(2), pp.309-328. https://doi.org/10.1007/s10551-018-4034-8

Johnson, A., Nguyen, H., Groth, M. and White, L., (2018). Workplace aggression and organisational effectiveness: The mediating role of employee engagement. Australian Journal of Management, 43(4), pp.614-631. DOI: 10.1177/0312896218768378

Leitão, J., Pereira, D. and Gonçalves, Â., (2019). Quality of work life and organizational performance: Workers’ feelings of contributing, or not, to the organization’s productivity. International journal of environmental research and public health, 16(20), p.3803. doi:10.3390/ijerph16203803

Leuz, C., (2018). Evidence-based policymaking: promise, challenges and opportunities for accounting and financial markets research. Accounting and Business Research, 48(5), pp.582-608. DOI: 10.1080/00014788.2018.1470151

Matias, A., Carrasco, A.R., Loureiro, C., Masselink, G., Andriolo, U., McCall, R., Ferreira, Ó., Plomaritis, T.A., Pacheco, A. and Guerreiro, M., (2019). Field measurements and hydrodynamic modelling to evaluate the importance of factors controlling overwash. Coastal Engineering, 152, p.103523. DOI: 10.1016/j.coastaleng.2019.103523

Salvioni, D.M. and Gennari, F., (2019). Stakeholder perspective of corporate governance and CSR committees. Salvioni, DM & Gennari F.(2019). Stakeholder Perspective of Corporate Governance and CSR Committees, Symphonya. Emerging Issues in Management (symphonya. unicusano. it), 1, pp.28-39. http://dx.doi.org/10.4468/2019.1.03salvioni.gennari

Singh, D., (2019). A literature review on employee retention with focus on recent trends. International Journal of Scientific Research in Science and Technology, 6(1), pp.425-431. https://www.researchgate.net/profile/Ishaq-Ibrhim/publication/353163443_The_Mediating_Effect_Of_Job_Satisfaction_On_The_Relationship_Between_Belongingness_And_Challenging_Work_Towards_Employee_Retention/Links/60ea6d5b1c28af34585e7295/The-Mediating-Effect-Of-Job-Satisfaction-On-The-Relationship-Between-Belongingness-And-Challenging-Work-Towards-Employee-Retention.pdf

Woo, H., Kim, K.H., Kim, S.J. and Wang, H., (2019). Service innovations’ roles in long-term relationships with business customers. Journal of Global Scholars of Marketing Science, 29(4), pp.457-469. https://doi.org/10.1080/21639159.2019.1657360

ppendix

Research and Design (based on 412 employees, 22 did not take part in survey)	Number of people Agree or bly agree	Number of people neither agree nor disagree	Number of people disagree or bly disagree	Agree or bly Agree %	Neither agree nor disagree %	Disagree or bly disagree %
It’s difficult to fulfill commitments outside my work because I spend too much time on my job.	187	52	151	45.0%	12.0%	36.0%
The organisation provides flexi-time.	288	92	10	69.0%	22.0%	2.0%
I’m allowed to work from home.	347	20	23	84.0%	4.0%	5.0%
I’m aware that that the organisation has the opportunity to job share.	9	8	373	2.0%	1.0%	90.0%
I have scope to use my own initiative in my job role.	384	6	0	93.0%	1.0%	0.0%
I’m provided with the opportunity to develop my skills.	377	10	3	91.0%	2.0%	0.7%
My line manager values the work I do.	302	40	48	73.0%	9.0%	11.0%
I feel secure in my job role.	270	26	94	65.0%	6.0%	22.0%
I’m expected to complete my work outside of my contracted hours.	388	1	1	94.0%	0.2%	0.2%
Absence rates in my department are low.	289	98	3	70.0%	23.0%	0.7%

Administration (65 employees, 4 employees did not participate)	Number of people Agree or bly agree	Number of people neither agree nor disagree	Number of people disagree or bly disagree	Agree or bly Agree %	Neither agree nor disagree %	Disagree or bly disagree %
It’s difficult to fulfil commitments outside my work because I spend too much time on my job.	58	1	2	89.0%	1.0%	3.0%
The organisation provides flexi-time.	4	0	57	6.0%	0.0%	87.0%
I’m allowed to work from home.	0	18	43	0.0%	27.0%	66.0%
I’m aware that that the organisation has the opportunity to job share.	8	3	50	12.0%	4.0%	76.0%
I have scope to use my own initiative in my job role.	3	49	9	4.0%	75.0%	13.0%
I’m provided with the opportunity to develop my skills.	21	5	35	32.0%	7.0%	53.0%
My line manager values the work I do.	18	18	25	27.0%	27.0%	38.0%
I feel secure in my job role.	51	4	6	78.0%	6.0%	9.0%
I’m expected to complete my work outside of my contracted hours.	61	0	0	93.0%	0.0%	0.0%
Absence rates in my department are low.	3	0	58	4.0%	0.0%	89.0%

Marketing (18 employees all responded to the survey)	Number of people Agree or bly agree		Number of people neither agree nor disagree	Number of people disagree or bly disagree	Agree or bly Agree %		Neither agree nor disagree %		Disagree or bly disagree %
It’s difficult to fulfil commitments outside my work because I spend too much time on my job.	2		0	16	11.0%		0.0%		88.0%
The organisation provides flexi-time.	18		0	0	100.0%		0.0%		0.0%
I’m allowed to work from home.	0		0	18	0.0%		0.0%		100.0%
I’m aware that that the organisation has the opportunity to job share.	0		18	0	0.0%		100.0%		0.0%
I have scope to use my own initiative in my job role.	15		3	0	83.0%		16.0%		0.0%
I’m provided with the opportunity to develop my skills.	14		1	3	77.0%		5.0%		16.0%
My line manager values the work I do.	12		1	5	66.0%		5.0%		27.0%
I feel secure in my job role.	10		3	5	55.0%		16.0%		27.0%
I’m expected to complete my work outside of my contracted hours.	2		0	16	11.0%		88.0%
Absence rates in my department are low.	17		1	0	94.0%		5.0%		0.0%
Absence rates over a three-month period
Department		Hours lost through absence				Average hourly rate		3) Working days lost		4) Projected average loss of working days over a 12-month period		5) Costs of pay during the 3-month period
Research & Design		1876 hours lost through absence				£35.00		78 days (Approx)		£ 312.00		£ 312.000
Administration		237 hours lost through absence				£12.50		9 days (Approx)		£ 36.00		£ 36.000
Marketing		20 hours lost through absence				£28.00		0.83 days (Approx)		£ 3.32		£ 3.320
Total		2133				£75.5		87.83 days (Approx)		£351.32		£ 351.320