3CO02 Principles of Analytics
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Introduction
The purpose of this unit is to explain how people professionals carry out their duties, whether they make simple or complex decisions. In addition, the article discusses how analytics and evidence can be used to improve work practices and make decisions for organisations that add value.
The learning objectives
This unit aims to:
- Identifying how evidence-based practices influence measures and outcomes in an organisation and how they can be used to facilitate growth and development.
- Describes how different data measurements can be used to make informed decisions.
- Assessing the various approaches and methods that can be utilised to increase an organisation’s value. Explaining the approach of the organisation to its customers and stakeholders.
- Analysing how analytics can improve organisational work practices and risk assessments.
- Organisations use evidence-based practices to determine their measures and outcomes.
Evidence-based practices can enhance growth and development for organisations if they evaluate how they could use them to do so. During this course, learners will become familiar with evidence-based practices, their application, composition, and how they can be used to inform moral judgment and organisational outcomes.
The learners describe the impact of using data for evaluating personal information, time, ethics, and accurate analysis within an organisation. As a result, they will understand how knowledge management approaches can improve organisational culture, performance, and internal and external insights.
As part of this course, students will discover which types of data measurements relate to a person’s professional work and how they can accurately retrieve and collect data that influence organisational decision-making. Data can be quantitative or qualitative. The students will discover which is more appropriate for their profession. Furthermore, students will understand current organisational 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, and organisation policies and procedures.
This course teaches students how to calculate ordinary financial information and financial information using company data. Students will perform and interpret standard calculations used in an organisation, including percentages and averages, at the end of the course. Furthermore, students will better understand what basic financial statements mean.
In addition to learning how to make choices, learners gain insight into following agreed procedures, policies, and sources of evidence when making decisions. Moreover, learners gain insight into how organisational procedures, policies, and evidence influence decision-making. Through the course, they will learn about the policies and procedures utilised to implement and influence customer-focused strategies. Students will learn how to use various sources of evidence that will contribute to sound decision-making, including managers, employees, databases, spreadsheets, and electronic counting systems.
The impact of creating organisational value on employees, customers, and shareholders
This learning objective discusses the types of customers and stakeholders who interact with human resources professionals and how influence affects value creation. Through this course, students will understand the scope of the company’s customers, employees, suppliers, and stakeholders. As a graduate, students will understand the role of people professions, their influence, and how they contribute to the fulfilment of all stakeholders within an organisation.
This unit aims to provide an assessment of the value proposition and impact of individuals, organisations, and stakeholder groups in the people professions. Learners will understand the importance of value creation, fundamental ethics and principles governing organisational goals and objectives, and practices that improve market competitiveness and employee engagement. Furthermore, they will learn how an organisation creates value for its customers and stakeholders, the importance of maintaining the value of an organisation’s products and services, and the importance of nurturing customer loyalty. Within this course, students will also learn more about company learning and development strategies, the importance of organisation branding, and ways to reward employees. Additionally, concepts include how an organisation can maximise stakeholder returns and achieve sustainable growth and development.
During this class, students discuss the internal and external impacts of social media, along with risk assessment. Different types of discussion forums are available to exchange information and ideas, and social media can promote internal and external communication among employees. This can be beneficial for team morale as well as individual performance. In addition to encouraging engagement, collaboration, and employee wellbeing, the program can also promote inclusion and diversity. Nonetheless, there are risks associated with social media use, regardless of whether or not it is permitted. These risks include cyberstalking, cyberbullying, intimidation, authenticity, the reputation of an organisation, and risks for individuals and teams.
Additionally, the students discuss the impact of professional careers within an organisation. This way, you promote an open culture conducive to trust and commitment; you aggregate current good practices from case studies and print materials, and provide management with professional advice.
The students are taught to become customer-focused and standards-driven on a personal level. To maintain and develop a customer-centric approach, it is essential to create and maintain a robust customer-centric attitude. The result is that an organisation 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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