Business Decision Analytics Report: Semester 1, 2024

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BUSINESS DECISION ANALYTICS
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Table of Contents
Introduction....................................................................................................................................3
1. Apply decision-making systems and techniques and interpret range of data analytics.
4
2. Evaluate those systems and techniques.............................................................................5
3. Present findings in a visual and written form..................................................................8
4. Support argument with relevant contemporary literature..................................................12
Conclusion....................................................................................................................................14
References.....................................................................................................................................16
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Introduction
The given report aims to cover the various decision making tools that are widely used and which
can be applied in taking various crucial decision. The decisions taken on the basis of application
of decision making tools can be used to formulate various policies which will help to achieve the
desired objectives for which these tools have been applied. Generally, the decision making tools
are applied to quantitative variables which makes it easier to facilitate comparison. All the
aspects have been taken into consideration. To reduce the complexion and complexity,
performance has been evaluated on the basis of which relevant performance criteria. Four parts
of this report deals with several aspects that generally arise in the evaluating any type of data. It
is necessary to duly consider all the assumptions during the analysis phase. In this report,
different types of variables have been duly considered. Out of these variables, some are
expressed in number, i.e., quantitative variable, while remaining variables are qualitative in
nature.
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1. Apply decision-making systems and techniques and interpret range of data analytics.
Before applying the decision making system, it is necessary to have a complete understanding
regarding all the variables. Only then, correct and appropriate decision making system can be
applied. For the purpose of data analysis, 60 employees have been taken (Leach, 2014). These 60
employees can belong to any of the 10 teams. These teams are engaged in the various kinds of
activities and perform different activities. For the sake of convenience, all the full time
employees have been taken for the purpose of data analysis.
Three types of safety ratings have been assigned to all the concerned employees. Another
important consideration is that these employees can belong to any of the position, namely,
senior, middle or junior (Leach, 2014). After considering all these variables, it has been decided
as to whether the concerned employee met the quality KPI targets or not. In other words, all the
variables discussed earlier will be treated as quality standards or benchmarks on the basis of
which the performance of any employee can be properly measured. Thus, the answer will be
either yes or no. While yes indicates that the corresponding employee has met out the quality
targets, no denotes that he or she is not meeting out the quality key performance targets.
All these parameters will help to assign the performance rating of all the employees that have
been taken for the decision making analysis. The performance rating will be assigned or
provided on the basis of three criteria or variables, namely, acceptability, performance and
outstanding performance. These three criteria will help to simplify the rating process and it will
ultimately help to evaluate the performance of an employee. Apart from that, it is possible that
one employee is performing outstanding in one parameter but is not good in relation to anther
criteria. This will help to identify or determine the areas which will require the attention of
immediate superior level or authority. Thus, employee will need to focus on the area which
needs to be improved for the nearby future (Leach, 2014).
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2. Evaluate those systems and techniques.
Project plan
With the project plan, an estimation regarding all the duration of all the activities that are
necessary to be accomplished so that overall project can be completed within due time. For the
sake of uniformity, duration in terms of weeks has been taken (Kerzner, 2017). Accordingly, the
time taken for the completion of each and every activity has been expressed in terms of week.
This has been taken so that comparison can be made in respect thereof. Furthermore, the duration
of all the concerned activities has been rounded off.
Sr.
No
.
Activities Duration
1. Gathering data pertaining to employees 3 weeks
2. Assigning safety rating on the basis of demographic and other
characteristics
2 weeks
3. Meeting quarterly KPI (Key performance indicators) targets 0.5 week
4. Giving performance rating on the basis of three parameters 1 week
5. Making comparison on the basis of performance rating team wise 1.5 week
It can be observed that the main purpose of data analysis is to compare the performance of all the
concerned 10 teams dealing in various activities. Since there are various parameters on the basis
of which the performance can be evaluated. It is pertinent to observe that the duration has been
assumed or taken on the basis of normal circumstances. In other words, unforeseen
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circumstances or the abnormal situation has been totally ignored while determining or computing
the duration of the activities.
All the activities that are necessary activities have been taken into consideration while estimating
or determining the activity duration or duration of activities. As such, it does not mean that only
these activities need to be conducted (Kerzner, 2017). There can be other activities as well but
does activities have been merged with these major or primary activities due to their inherent
characteristics.
One major assumption that has been considered is associated with sequence of activities. Thus, it
has been assumed that these activities need to be conducted or performed in a sequential order. It
means that after the completion of one activity, next activity will be initiated and the process
goes on. It also means that until one activity is not completed, next activity cannot be initiated or
started.Several measures have been taken so that there can be no biasness in the data collection
or any other phase. This will ensure that there is no ambiguity in the decision making process.
Decision making is an important part of every organization and there are various systems and
techniques that are used in effective decision making for the organization. Some of the systems
and techniques used in decision making include:
 Decision support system: It is a type of information system which supports the correct decision
making for the organization with the help of the model base which is considered as the brain of
the decision support system. Decision support system assists the managers of the organization to
solve semi-structured and unstructured problems by providing a set of processed information
which helps in facilitating correct decision making to managers. It consists of three components
including user, database and model base (Kerzner, 2017). The database is the area from where
the information is selected for processing and the data collected from the database is sent to the
model base which is considered as the brain of DSS for processing and providing the managers
with processed information which is used for decision making.
 Regulatory Framework in the organization: It is important to maintain a regulatory
framework to facilitate correct decision making. It should be noted that management should
make certain rules and regulations for the management which facilitates the proper operations
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and thus helps in correct decision making. Certain policies and rules should be properly made
and communicated to the internal stakeholders of the organization which guides the organization
towards success. Also, management should continuously update the regulatory requirements as
per the goals of the organization. This regulatory framework will help in effective decision
making for the organization.
 Proper communication system: Organizations should develop a proper communication system
throughout the processes which would help in gaining the understanding of the processes in a
proper way and take decisions accordingly (Kerzner, 2017). Also, the goals of the company
should be properly communicated by way of such systems at all levels of the organization. The
communication system helps in rapid decision making in emergency situations as if the system is
properly implemented at all the levels the decision can be taken after consulting with the higher
authority as soon as possible.
 Database Management System: Information is the most important part of an organization and
its management which facilitates effective decision making for the management (Fleming and
Koppelman, 2016). For gaining the processed information which can be used for decision
making organization must implement a proper database management system that would help in
providing useful information for decision making by the management. Proper analysis of the
database should be made as the decisions are taken on the basis of such data which is processed
by the management. Proper systems should be made to capture the data properly into the
information system of the organization and the database of the company should be management
directed and management-oriented as it will help in providing information useful for decision
making for the management.
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3. Present findings in a visual and written form.
Employee
Informatio
n
Performance Rating
Name Safe
ty
Rati
ng
Team Met
Quar
tely
KPI
targe
t
Accepta
ble
Perfo
rming
well
Outstand
ing
performa
nce
Member of
Social club
Yes (Y); No
(N)
Jacob 1 Team
A
N No Yes 2 Y
Michael 1 Team
A
N Yes No 2 Y
Mary 2 Team
A
Y Yes Yes 1 N
Joshua 1 Team
A
N No No 3 Y
Youseff 1 Team
A
Y No No 3 N
Emma 2 Team
A
N No No 3 N
Abe 2 Team
A
y Yes Yes 1 N
Kelvin 2 Huma
n
Resou
rces
N Yes No 2 N
Lillian 2 Huma
n
Resou
rces
y No No 3 Y
Terry 2 Huma
n
Resou
rces
Y No Yes 2 Y
Rubin 1 Huma
n
Resou
rces
Y Yes Yes 1 Y
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Hassan 1 Operat
ions
Y No Yes 2 N
Fred 1 Operat
ions
Y Yes No 2 N
Shavonne 3 Team
B
Y No Yes 2 Y
Sibyl 1 Team
B
Y No No 3 Y
Larry 2 Team
B
Y No No 3 Y
Zane 3 Team
B
N No Yes 2 N
Rudolph 2 Team
B
N No Yes 2 Y
Angelo 1 Operat
ions
Y Yes Yes 1 N
Lee 3 Techn
ical
N No Yes 2 N
Marc 1 Techn
ical
N No No 3 Y
Chad 2 Techn
ical
y No No 3 Y
Anton 2 Techn
ical
N Yes Yes 1 Y
Rick 1 Operat
ions
Y No Yes 2 N
Keith 1 Operat
ions
N No No 3 Y
Torri 3 Techn
ical
N Yes No 2 N
Mica 1 Team
C
N Yes Yes 1 N
Kim 3 Team
C
y Yes No 2 Y
Earle 1 Team
C
N Yes No 2 N
Hester 1 Team
C
N No Yes 2 Y
Lindsey 1 Team
C
y No Yes 2 Y
Mario 1 Team
C
N Yes Yes 1 Y
Simon 2 Team
C
Y Yes No 2 N
Kathrine 1 Team
C
Y No No 3 N
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Stephen 1 Marke
ting
Y Yes Yes 1 Y
Blake 3 Marke
ting
Y No Yes 2 N
Fraser 1 Team
D
Y No No 3 N
Gemma 1 Team
D
Y Yes No 2 N
Heath 1 Team
D
N No No 3 Y
Rashid 2 Team
D
Y No Yes 2 N
Mohammad 1 Marke
ting
y Yes No 2 Y
Nada 1 Team
D
y Yes Yes 1 N
Paul 2 Team
D
N Yes No 2 N
Sarah 3 Financ
e
N Yes Yes 1 N
Nima 1 Financ
e
N No No 3 N
David 1 Financ
e
Y No No 3 N
Ali 1 Financ
e
Y Yes Yes 1 Y
Maria 1 Financ
e
Y No No 3 Y
Nicola 2 Financ
e
Y Yes No 2 Y
Lorenzo 1 Techn
ical
N Yes No 2 N
Colin 2 Team
D
N Yes Yes 1 Y
Bryan 1 Team
E
Y No Yes 2 N
Vito 1 Team
E
Y Yes Yes 1 Y
Rosa 1 Marke
ting
N Yes Yes 1 N
Yvette 2 Marke
ting
Y No No 3 N
Marcel 1 Team
E
N No No 3 N
Claude 1 Team
E
Y No Yes 2 N
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Louis 1 Team
E
N No Yes 2 Y
Pam 3 Huma
n
Resou
rces
N No Yes 2 N
Percy 1 Huma
n
Resou
rces
Y Yes No 2 N
The above table indicates that four different types of rating assigned to the employees belonging
to various types of teams. Varied ratings have been assigned according to the performance of the
concerned employee (Fleming and Koppelman, 2016). Various precautionshave been taken so
that uniformity in measuring and observing the performance of any employee irrespective of the
team to which he belongs. Out of these various rating measures, two variables, namely, safety
rating and overall performance consist of rating from 1 to 3. While rating 1 denotes the best
performance, 3 indicate the worst performance. It has come to the notice that, some employees
are good in both the aspects. But it is difficult to state that which employees are either best or
worst. This is because some employees are good in some respect, while there are some
employees are bad in both parameters. Apart from that, there are some employees whose
performance is good considering both the criteria (Fleming and Koppelman, 2016).
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4. Support argument with relevant contemporary literature.
It would be better to present the data through the help and assistance of various tables. These
tables have been prepared taking one variable at a time. Preparing such table is the most crucial
part of decision making process (Burke, 2013). Without preparing these tables, effective decision
making cannot be done and relevant decision can be taken.
Finance team
Employee
Information
Met Quartely
KPI target
Performance Rating Member of Social club
Yes (Y); No (N)
Sarah N Yes Yes 1 N
Nima N No No 3 N
David Y No No 3 N
Ali Y Yes Yes 1 Y
Maria Y No No 3 Y
Nicola Y Yes No 2 Y
Human resource management team
Kelvin N Yes No 2 N
Lillian y No No 3 Y
Terry Y No Yes 2 Y
Rubin Y Yes Yes 1 Y
Pam N No Yes 2 N
Percy Y Yes No 2 N
Marketing team
Stephen Y Yes Yes 1 Y
Blake Y No Yes 2 N
Mohammad y Yes No 2 Y
Rosa N Yes Yes 1 N
Yvette Y No No 3 N
Operations
Hassan Y No Yes 2 N
Fred Y Yes No 2 N
Angelo Y Yes Yes 1 N
Rick Y No Yes 2 N
Keith N No No 3 Y
Team A
Jacob N No Yes 2 Y
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