Introduction to 3CO02 Principles of Analytics
This unit provides insights into how people professionals make either straightforward or complicated choices on carrying out their roles. It explains how using a diverse range of analytics and evidence is vital in improving work practices and making decisions that add value to an organisation.
This unit aims at:
- Explaining how evidence-based practices inform measures and outcomes and how they can be effectively applied in an organisation to enhance growth and development.
- Explaining the benefits of using data, the various types of data measurement, and how it can influence informed decision-making.
- Analysing the various ways and approaches that can be used in creating organisational value. Describing the organisational approaches to its stakeholders and customers.
- Describing the role of analytics in improving work practices and risk assessment in an organisation.
Evidence-based practices advise on measures and outcomes in an organisation.
The measures can be achieved by evaluating evidence-based practice and how an organisation can use it to enhance growth and development. Learners will understand what evidence-based practice is, its application, and its composition; how various types of evidence-based practice can be used to inform principle led judgment and organisational outcomes.
Learners describe the impact of using data for evaluating personal information, time, ethics and accurate analysis in an organisation. They will understand the value of knowledge management approaches in enhancing organisational effectiveness; acknowledge the influence of data in organisational culture, its performance, organisational internal and external insights.
Students discuss the various types of data measurements related to people professions work and how it is used to accurately retrieve and collect data that can influence decision-making in an organisation. Students will learn of the qualitative and quantitative forms of data. In addition, they will learn of the different types of information used in and within an organisation to influence informed decision making such as data resourcing, employee absenteeism, learning and development skills, employees competence, performance and reward, employee voice, employee retention and turnover rate, dismissals, employee wellbeing, effective communication, employee engagement, organisational policies and practices.
The unit explains the principle financial information and ordinary calculations from organisational data. Learners will understand how to make and interpret ordinary calculations such as percentage, average, themes and patterns used in an organisation. In addition, they will learn how to interpret basic financial information.
Learners get insight into how to make choices, and knowledgeable decisions are influenced by applying agreed procedures, policies, and sources of evidence. They will learn how organisational procedures, policies and evidence influence decisions. They will get insight into the various policies and procedures that support and influence customer-focused strategy. Students will become conversant with the different sources of evidence used to inform sound decision-making in organisational choices such as managers, employees, databases, spreadsheets, and electronic systems for counting.
Impact of creating organisation value to employees, customers and shareholders
The learning objective discusses the scope of customers and stakeholders working with people professions and the role of influence in their value creation. They will learn the scope of customers, employees, suppliers, and stakeholders dependent on an organisation. They will understand the role of people professions, their influence and benefit to the fulfilment of all the stakeholders in an organisation.
The unit provides an assessment of people professions concept of value creation and their impact on people, organisations and stakeholders. Learners will understand the importance of value creation, core ethics and principles that governs organisational goals and objectives; practices that enhance market competitiveness; how organisational values influence employee’s engagement. They will also learn how an organisation creates value for its customers and stakeholders, the impact of maintaining organisational products and services value, and the art of nurturing customer loyalty. In addition, the students will discuss the organisational approach to learning and development, the importance of organisational branding, and the rewarding strategies implemented in organisations. Other concepts include organisational strategies to approach future investments, how an organisation can maximise stakeholders returns and achieve sustainable growth and development.
Learners discuss the internal and external impact and risk assessment of social media in work practices. Social media can be a form of support to encourage internal and external communication between employees and various types of forums available for sharing information and ideas. Social media can promote engagement, collaborative work, employee wellbeing, inclusion and diversity, individual and team morale. However, it can pose risks where the use of social media is permitted and not permitted, cyberstalking, cyberbullying and intimidation, authenticity, organisational reputation, team and individual risk and security issues.
The learners also discuss the impact of people professions on other people in an organisation. This enhances support and promotion of an open culture that promotes trust and commitment; the grouping of current good practices from case studies, print materials and experts views and opinions; giving managers professional advice.
Students understand how to become customer-focused and learn of the standards-driven at a personal level. It is essential to achieve and maintain a robust customer-focused atmosphere and approach to customers. By doing this, an organisation can maintain and grow its customer base; maintains a high level of customer satisfaction, value-driven principles and high customer service standards.