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Talk to an Expert| Category | Assignment | Subject | Business |
|---|---|---|---|
| University | Business and Technology Education Council (BTEC) | Module Title | Unit 16 Business Data Analytics and Insights (M/618/5126) |
| Qualification | Pearson BTEC Level 5 Higher National Diploma in Leadership and Management for England: 610/1142/3 |
| Unit Number | 16 |
| Unit Title | Business Data Analytics and Insights |
| Unit code | M/618/5126 |
| Unit type | Core |
| Unit level | 5 |
| Credit value | 15 |
The value of data to organisations is driving data management and governance to top-level priority in most business organisations and is generating a wealth of career opportunities and employer demand in this growing sector. Core competence in using technical knowledge to mine, inspect and interpret data before transforming it into useful information that will influence business decision-making is highly valued, as is being able to design, develop and implement data-collection databases and processes.
This unit aims to give students an understanding of how organisations in different contexts improve their efficiency through the use of effective data management techniques. Students will look at the importance of data analysis and interpretation in informing business decision-making processes to enable organisations to stay current and competitive in a volatile macroenvironment. Students will learn how key decisionmakers, at various levels, are able to improve strategic outcomes by using more effective processes to gain an insight into the most appropriate data and information available to a business. This, in turn, informs effective business strategy.
On completion of this unit, students will have greater understanding and awareness of fundamental data analysis processes, data mining and data transformation. Broader topics such as data management ethics, legislation relating to data and using data in strategic choices will also be explored. This will enable students to develop a career that focuses on the analysis, interpretation and effective use of data.
By the end of this unit students will be able to:
LO1 Analyse the contribution of effective data analytics and insight to business decision-making processes
LO2 Apply various data analysis methods and techniques that could inform business decisions
LO3 Examine the importance of ethics and conduct in data analytics and management
LO4 Develop data management processes that allow for improved decision-making in ever-changing business environments.
Defining concepts:
Defining data analytics and data management
Key tasks in data analytics e.g. generating summary accounts, creating reports with summary descriptive statistics, application of ‘data visualisation’ tools to create graphics that convey information contained in data
Terminology in data management e.g. data mining, raw data, file formats, repositories, data modelling, data visualisation, metadata, intellectual property, access rights
Key tasks in data management e.g. building databases, uploading data to these data stores, creating backup and historical copies of files, providing ‘permissions’ to access data files.
Data types and strategy:
Different types of data – quantitative and qualitative, structured vs unstructured Levels of strategy – operational, tactical and strategic decision-making Appropriateness of data types to business decision-making.
Contribution to decision-making:
The use of data analytics in decision-making e.g. for better planning, identifying problems and opportunities, providing real-time insights, forecasting
The steps of the decision-making process e.g. identifying a decision, gathering information, assessing alternative resolutions
Relationships between ‘effective’ or ‘poor’ data analytics and strategic decision making.
Advantages and disadvantages, impact analysis, return on investment (ROI).
Do You Need Help with Unit 16 Business Data Analytics and Insights (M/618/5126) Assignment?
Chat With Experts & Get Assignment NowGaining business insight through data interpretation:
Data analysis tools and techniques e.g. decision tree analysis, cluster analysis, regression analysis, cross-correlations, machine learning
Data collection in research:
Different research methodologies underpinning a philosophical approach:
positivism (deductive) vs interpretivism (inductive) paradigms
Qualitative and quantitative research methods
Mixed-method approaches, including limitations and advantages
Associated tools and techniques e.g. focus groups, in-depth surveys, questionnaires.
Ethics, reliability and validity:
Role and significance of ethics in conducting research e.g. informed consent, confidentiality
Reliability of research and the degree to which research methods produce consistent results
Validity of research, extending to which results measure what they are supposed to measure
Data sources, assessing credibility, reliability and validity
Representative data, sample size, research populations
Contextualised data sets for improved evidence-based determinations.
Data presentation:
Data formats e.g. raw, processed, statistical data
Appropriateness of visual support aids – graphs, charts, tables, narratives, drawings, scatter charts and graphics
Stakeholder analysis for presentation formats.
Topical data management issues and trends:
Data manipulation, bias in data interpretation, privacy and personal data, access and storing of data, intellectual property, use of artificial intelligence in data processing.
Corporate social responsibility and compliance:
Government expectations of data management responsibilities e.g. information technology (IT), security techniques, information security management systems requirements (ISO/IEC 27001:2022)
Compliance and associated regulations, including worldwide data protection and privacy legislation e.g. UK General Data Protection Regulation 2018 (GDPR).
Poor data management implications:
Organisational values and ethics, expectations of stakeholders, public image and branding, legal consequences.
Data analytics process implementation:
Creating data management process – stages, data collection, data quality assessments, data business models, piloting and testing, process implementation, execution and monitoring and review
Infrastructure analysis for data processing, IT competencies, SWOT (strengths, weaknesses, opportunities and threats) Data flow charts and communication channels.
Creating accountability and transparency:
Roles in data management – processors, controllers, users
Producing data management structures
Use of responsibility assignment matrices (RAM), communication platforms to enhance transparency.
Data governance:
Business benefits associated with data governance
Creating success metrics aligned to organisational strategy
Quality Assurance of monitoring process, Information Commissioner’s Office (ICO) guidance.
Producing data management system proposals:
Strategic, tactical and operational recommendations
SMART (specific, measurable, achievable, realistic and timely) implementation plans.
| Pass | Merit | Distinction |
| LO1 Analyse the contribution of effective data analytics and insight to business decision-making processes | ||
| P1 Explain key concepts and processes that underpin data analytics for decisionmaking in an organisational context.
P2 Analyse benefits and limitations of data management for organisational insights and decision-making. |
M1 Critically analyse the use of data analytics in the decision-making process in an organisational context for effective decision-making. | D1 Justify recommendations for improving data analytics for effective decisionmaking. |
| LO2 Apply various data analysis methods and techniques that could inform business decisions | ||
| P3 Use a range of different M2 Critically evaluate approaches for analysing strengths and limitations information and data of a range of data analysis available to business. methods and techniques for informing decision-making.
P4 Assess the appropriateness of selected data analysis methods and techniques to inform business decisions in a specific business context. |
D2 Justify how different approaches to data analysis influence decision-making and an organisation’s ability to achieve its strategic objectives. | |
| LO3 Examine the importance of ethics and conduct in data analytics and management | ||
| P5 Examine examples of effective or poor ethical behaviours and conduct with regard to data management and the potential consequences these may have. | M3 Critically examine the impact of poor ethical behaviours and conduct in a specific context and the implications this has in business. | D3 Critique ethics and conduct in a specific context to determine both legal and business consequences of unethical practices in data analytics and management. |
| Pass | Merit | Distinction |
| LO4 Develop data management processes that allow for improved decision-making in ever-changing business environments | ||
| P6 Develop appropriate data management processes that can be applied in an organisational context to improve decision-making. | M4 Devise a range of data management processes in a specific context that create accountability and transparency to improve decision-making processes. | D4 Create tactical data management processes that specifically align with organisational strategic decisions and objectives. |
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