Solution
3CO02 – Principles of Analytics
Part One: Presentation
Introduction
The company’s effectiveness is centred on several aspects, including making informed decisions and critical thinking. This is important in ensuring that the decisions are aligned with the firm’s needs and preferences. Making informed decisions is based on adequate information about the internal and external factors influencing the company. This introduces the importance of the evidence aspect, which involves the use of previous experience and sufficient knowledge to support the firm’s choices. The role of information and communication technology in this regard is to enhance the data collection, analysis, and storage process. Notably, the data is categorised into numerical and narrative, which describe the quantitative and qualitative types of data (De Block and Vis, 2019). Across all the leadership and management activities, especially the people practices, the importance of evidence and informed decisions is essential in ensuring that the selected options are aligned with the firm’s structure and culture. For instance, during the recruitment and selection process, it is crucial to ensure that the decision to hire the individual is founded on adequate evidence about the person’s competencies. This presentation evaluates the concept of evidence-based practice (EBP) in broad, including the use of social media and role of data in making informed organisational improvements.
1.1 Meaning of Evidence-Based Practice
Organisations are increasingly utilising data to make decisions that will positively affect their bottom line. This has prompted the shift and embrace of evidence-based practice. EBP is a broad aspect that encompasses several elements. Primarily, EBP involves the use of supportive information and sources to select the most suitable decision and choice (Boatman, 2020). This is aimed at achieving the desired organisational outcomes. EBP further involves the use of internal and external data, empirical studies and research findings, real experience and expert judgement, and values. These aspects are important in avoiding biases and assumptions in the human resources management (HRM). An example of EBP in people practice is during the recruitment and selection process where the organisation uses vast information to hire the right candidates. Another example is using the proven strategies to develop the organisational culture and policies. The third example is to use HR metrics and performance management data for developing the total and strategic rewards.
1.2 Reasons for using data in organisational improvements
Data is crucial in the organisational decision-making process. The primary role of data is to make informed decisions about the firm’s improvement. During the organisational improvement process, it involves the collection of sufficient information about the current gaps in the organisation and how they can be addressed. For instance, when there is a need for change in the company system, data is used to provide adequate information and analysis about the need and how it can be approached. The use of data during the improvements helps in tracking the new approaches and monitoring if the key performance indicators are being achieved (Coles et al., 2020). Data is also essential as it reduces the risks and errors when developing improvements. For instance, data is vital in eliminating assumptions during the improvements and any disconnect between the resources and actual need. The data should, however be timely to ensure that the decisions are developed in time to meet the firm’s needs. Timely data also avoids delays and ensures sustainable competitive advantage. Ethics in using the data avoids conflicts with the laws and regulations. Data accuracy is crucial in ensuring that the information is aligned with the firm’s needs and that there are no risks, assumptions, and errors in effecting the improvements.
1.3 Types of Data measurements and information to use by people professionals data measurements
People professionalism involves making critical decisions that touch on the people, particularly the employees. During the people practice, it is essential to ensure that all the decisions, from the time an individual enters the company up to when they leave, the decisions involving them are informed by data. Notably, the data can be in two major forms of qualitative and quantitative. Quantitative data is numerical and statistically evaluated, while qualitative data involves the ideas, opinions, and narratives. The data measurements may include interviews, questionnaires, and focus groups. A questionnaire can be applied to collect quantitative data regarding the employees’ satisfaction and areas of improvement. An interview, which involves a one-on-one engagement with the individual can be applied to collect qualitative data, such as the employees’ opinions regarding the type of leadership and working environment (Pluye et al., 2018). Another data measurement is the use of HR metrics to collect information about the employees, including turnover, for developing effective intervention approaches.