3CO02 Principles of Analytics

AC 1.2 Explain the reasons why it is important to use data to help assist organisational improvements and why this data need to be timely, ethical and accurate

Guideline

Data plays a pivotal role in driving organizational improvements, as it serves as a valuable resource for various reasons, such as:

• Improving Organizational Effectiveness: Data-driven insights enable organizations to identify areas of inefficiency and implement targeted strategies for improvement, thereby enhancing overall effectiveness and performance.
• Promoting Organizational Culture and Performance: Utilizing data fosters a culture of continuous improvement, leading to better performance outcomes and positively impacting both internal and external perceptions of the organization.

Examples of organizational improvements facilitated by data include:

• Enhancing Organization Productivity: By analyzing data on processes and workflows, organizations can identify bottlenecks and implement measures to enhance productivity.
• Increasing Profits: Data-driven decision-making can identify lucrative opportunities, optimize pricing strategies, and identify cost-saving measures to drive increased profitability.
• Boosting Employee Morale: Data insights can be used to identify employee needs, address pain points, and create a positive work environment, leading to higher employee morale and satisfaction.
• Building a Positive Organizational Reputation: Data-driven practices enable organizations to make informed decisions, act responsibly, and uphold ethical standards, enhancing their reputation in the eyes of stakeholders.

Moreover, students should understand the importance of data being ethical, timely, and accurate:

• Ethical Data Usage: Ethical considerations ensure that data is collected, stored, and used in a manner that respects individual’s privacy and complies with relevant regulations, such as the General Data Protection Regulation (GDPR).
• Timeliness of Data: Timely data ensures that decisions are based on the most current and relevant information, enabling organizations to respond promptly to emerging opportunities and challenges.
• Accuracy of Data: Accurate data forms the foundation of sound decision-making, preventing potential errors and misguided strategies that could lead to undesirable outcomes.

By adhering to ethical principles and ensuring data is timely and accurate, organizations can harness the full potential of data to drive meaningful improvements and achieve sustainable success. Additionally, complying with regulations like the GDPR safeguards individuals’ rights and helps maintain trust between organizations and their stakeholders.

AC 1.3 Explain two different types of data measurements and information that can be used by people professionals, and how they are each used to collect and collate information to support effective decision-making

Guideline

Examples of data measurements include both qualitative and quantitative data.

• Quantitative Data: Employee absence numbers are a prime example of quantitative data. This numerical measure provides valuable insights into the frequency and duration of employee absences, aiding effective decision-making related to workforce planning, employee well-being, and productivity.
• Qualitative Data: Surveys are an example of qualitative data. Surveys gather subjective information and opinions from employees or stakeholders, offering valuable qualitative insights into areas such as employee satisfaction, customer feedback, and organizational culture. This qualitative data helps decision-makers understand the sentiments and perceptions of individuals, providing a basis for improving organizational practices and strategies.

By combining both qualitative and quantitative data, organizations gain a comprehensive understanding of various aspects that impact their operations and are better equipped to make informed decisions to drive positive outcomes.

AC 1.5 Explain how organisational policies, procedures and other forms of evidence can be used to support appropriate choices and decisions

Guideline

Examples of organization policies and procedures encompass:

• Rewards and Benefits Policy: This policy outlines the organization’s approach to rewarding and providing benefits to employees based on their performance, contributions, and achievements.
• Learning and Development Policy: This policy lays out the organization’s strategies and guidelines for fostering employee growth and skill development through various learning initiatives and training programs.
• Anti-Harassment Policy: This policy defines the organization’s commitment to maintaining a safe and respectful workplace by prohibiting any form of harassment or discrimination.
• Health and Safety Policy: This policy establishes the organization’s commitment to ensuring the health, safety, and well-being of employees and visitors within the workplace.

These policies play a crucial role in supporting appropriate choices and decisions within the organization. The evidence supporting these policies is derived from:

• Evidence from Managers and Staff: Input and feedback from managers and staff members provide valuable insights into the effectiveness and relevance of existing policies and procedures.
• Evidence from Databases: Analyzing data from various databases, such as performance metrics, employee surveys, and incident reports, helps in assessing the impact and outcomes of the organization’s policies.
• Evidence from Electronic Systems: Information obtained from electronic systems, such as time-tracking software, training records, and incident management systems, can offer valuable evidence on policy compliance and effectiveness.

By relying on evidence from these diverse sources, organizations can make informed decisions and fine-tune their policies and procedures to create a conducive and compliant work environment that supports the well-being and growth of their employees.

AC 2.1 Explain the range of internal and external customers and stakeholders, that people professionals work with, and the part that influencing plays within the relationships

Guideline

Students provide examples of both internal and external customers within an organization:

Internal Customers:

• Shareholders: Shareholders are internal customers who have invested in the organization and have a vested interest in its financial performance and success.
• Employees: Employees within the organization can also be considered internal customers, as they rely on various departments and colleagues to fulfil their roles and responsibilities.
• Potential Candidates: As the organization seeks to hire new talent, potential candidates become internal customers during the recruitment process.

External Customers:

• Customers: External customers refer to individuals or entities outside the organization who purchase goods or services from the company.
• Suppliers: Suppliers are external customers who provide goods or services to the organization to support its operations.

People professionals play a significant role in influencing both internal and external customers. They act as facilitators and communicators to identify customers’ needs and develop strategies to address them effectively.

For internal customers (e.g., employees and potential candidates), people professionals foster a positive and supportive work environment by providing resources, training, and growth opportunities. They ensure effective communication channels are in place, enabling employees to voice their concerns and provide feedback.

For external customers (e.g., customers and suppliers), people professionals work to understand their needs through surveys, feedback mechanisms, and market research. They collaborate with other departments to ensure the organization delivers products and services that meet customer expectations.

By communicating effectively with both internal and external customers, people professionals can develop strategies that align with their needs and expectations. This proactive approach strengthens customer relationships, enhances customer satisfaction, and contributes to the organization’s overall success.

AC 2.2 Explain what is meant by creating value as a people professional, and identify the benefits of providing value to customers and stakeholders

Guideline

Students elaborate on the concept of value creation concerning how organizations invest in people, including leaders, managers, and employees. They emphasize that individuals within organizations should be committed to fulfilling their assigned roles while ensuring that they contribute to value creation (Burke, 2018).

People professionals play a vital role in supporting value creation through various means:

• Employer Branding: People professionals enhance the organization’s reputation as an employer of choice, attracting top talent and fostering a positive organizational culture.
• Education: By promoting continuous learning and development, people professionals help employees acquire new skills and knowledge, thus increasing their capacity to contribute value.
• Ethics and Values: People professionals uphold ethical standards and promote core values within the organization, ensuring that all actions align with the organization’s mission and vision.
• Employee Engagement: People professionals focus on nurturing a high level of employee engagement, as engaged employees are more likely to be motivated and committed to creating value.

Maintaining value within the organization is crucial as it brings several benefits, including attracting more suppliers, gaining more customers, and improving market competitiveness. A positive organizational culture that emphasizes value creation can attract reliable suppliers and partners while delivering value to customers increases their loyalty and satisfaction. This, in turn, enhances the organization’s reputation and competitive advantage in the market.

Overall, value creation is essential for organizational growth, sustainability, and success, and people professionals play a pivotal role in supporting this process by nurturing a workforce that is skilled, engaged, and committed to achieving the organization’s objectives.

AC 2.4 Drawing on good practice examples, explain how the work that people professionals perform benefits others within an organisation in supporting good practice, open cultures, commitment and engagement

Guideline

A notable example of a commendable people practice is the promotion of diversity and inclusion within the organization. This practice is manifest both during the recruitment and selection stage and in the provision of learning and development opportunities.

Diversity and inclusion as a good people practice yield numerous benefits to individuals within the organization. Employees experience heightened levels of satisfaction as they perceive an environment that values their unique backgrounds, perspectives, and contributions. Moreover, this practice provides them with a platform to express their concerns and ideas, fostering an atmosphere of open communication and mutual respect among colleagues.

By embracing diversity and inclusion, organizations can tap into the diverse talents and perspectives of their workforce, leading to greater innovation, improved team dynamics, and enhanced overall performance. Additionally, such an inclusive environment fosters strong relationships among employees, making the organization an attractive and fulfilling place to work.

Overall, promoting diversity and inclusion as a good people practice not only benefits individuals within the organization but also contributes to the organization’s long-term success and positive reputation within the broader community.

AC 2.3 Explain how social media can be used internally and externally in workplaces to improve communication and organisational practices, highlighting the risks in a work context

Guideline

Students explore the multifaceted role of social media in supporting both internal and external communication within organizations. Various types of social media forums are utilized by professionals to share information and ideas at work, enhancing collaboration and connectivity.

The positive impacts of social media encompass:

• Employee Engagement: Social media platforms facilitate interactive communication and feedback, promoting higher levels of employee engagement and involvement in organizational discussions.
• Employee Inclusion: Through social media, employees can be included in decision-making processes and feel valued as active contributors to the organization.
• Promotion of Team Morale: Sharing successes and recognizing achievements on social media can boost team morale and foster a positive work environment.
• Impacts on Employee Wellbeing: Social media can be used to raise awareness about wellness initiatives, mental health support, and work-life balance, contributing to employees’ overall well-being.
• Enhanced Employee Collaboration: Social media tools enable real-time collaboration, facilitating seamless communication and teamwork among employees across different locations.