3CO02 Principles of Analytics
Introduction to the 3CO02 Principles of Analytics
In this unit, you will gain an understanding of how people professionals make simple or complex decisions in carrying out their duties. This article discusses how a range of analytics and evidence can be used to improve work practices and make decisions that add value for an organization.
Learning objectives
The unit aims to:
- Analyzing how evidence-based practices inform measures and outcomes in an organization and how they can be used to enhance growth and development.
- Describes the various types of data measurement, and how they can be used to make informed decisions.
- Identifying the various approaches and methods that can be used for creating value for an organization. Explaining the organisation’s approach to its customers and stakeholders.
- Explaining how analytics can improve work practices and risk assessments in an organization.
Evidence-based practices advise on measures and outcomes in an organisation.
Evidence-based practices can be used to enhance growth and development by organizations by evaluating how they can use them. In this course, learners will explore what evidence-based practices are, their application, and composition, as well as how they can be used to inform principled judgment and organisational outcomes.
The impact of using data for evaluating personal information, time, ethics, and accurate analysis in an organization is described by the learners. To enhance organisational effectiveness, they will understand how knowledge management approaches can enhance organisational culture, its performance, and organisational internal and external insights.
In this course, students learn which types of data measurements are related to a person’s professional work and how they are used to accurately retrieve and collect data that influences decision-making in an organization. Data can be qualitative or quantitative. Students will learn the difference between the two. The students will also learn about current organizational issues such as data resourcing, employee absenteeism, learning and development skills, employee competence, performance and reward, employee voice, turnover rate, dismissals, employee wellbeing, effective communication, employee engagement, organization policies and procedures.
Students learn how to calculate ordinary financial information and financial information using organisational data. By the end of the course, students will be able to make and interpret common calculations used in an organization, such as percentage and average. Additionally, students will understand how to interpret basic financial information.
In addition to learning about how to make choices, learners gain insight into applying agreed procedures, policies, and sources of evidence to make informed decisions. In addition, learners gain insight into how organisational procedures, policies, and evidence influence decisions. Throughout the course, they will gain an understanding of the various policies and procedures used to implement and influence customer-focused strategies. As part of this course, students will become familiar with the different sources of evidence that support sound decision-making in the workplace, such as managers, employees, databases, spreadsheets, and electronic counting systems.
How creating organisational value impacts employees, customers, and shareholders
The learning objective discusses the scope of customers and stakeholders that work with people professions and the role influence plays in their value creation. In this course, students will learn the scope of the company’s customers, employees, suppliers, and stakeholders. Upon graduating, students will understand the role of people professions, their influence, and how they contribute to the fulfilment of all stakeholders inside an organization.
An assessment of people professions’ value creation model and their impact on people, organizations, and stakeholders are provided in this unit. This course will help learners understand the importance of value creation, core ethics and principles that govern organisational goals and objectives, practices that enhance market competitiveness, and how organisational values affect employee engagement. They will also discover how an organisation creates value for its customers and stakeholders, the importance of maintaining the value of organisational products and services, and the importance of nurturing customer loyalty. As part of this course, students will also discuss the organisational approach to learning and development, the importance of organisational branding, and the strategies for rewarding employees. Other concepts include strategies to approach investments, how an organisation can maximize stakeholder returns, and how it can achieve sustainable growth and development.
The class discusses the internal and external impact and risk assessment of social media on work practices. It is possible to use social media as a tool to promote internal and external communication between employees, and various types of forums are available to share information and ideas. Individual and team morale can be elevated with the use of social media. It can promote engagement, collaborative work, employee wellbeing, and inclusion and diversity. However, there can be risks related to social media use, whether it is permitted or not, cyberstalking, cyberbullying, intimidation, authenticity, organisational reputation, and individual and team risks.
Additionally, the students discuss how people professions impact others within the organization. By doing this, you support and promote an open culture that promotes trust and commitment; you group current good practices from case studies and print materials, and you provide management with professional advice.
The students learn how to become customer-focused and learn about standards-driven at a personal level. It is essential to create and maintain a robust customer-centric attitude and approach. As a result, an organization can maintain and grow its customer base, maintain a high level of customer satisfaction, and maintain a high level of value-driven principles and procedures.
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