CIPD 5CO02 Assignment Example | Principles of Analytics

 Additionally, it aids professionals in locating, identifying, and assessing other data that is pertinent to their choices.  Scientific studies that imply universally applicable truths about the universe, people, or organizational behaviours may serve as evidence (Gill 2018). Local organizational or commercial indicators, such as firm metrics or observations of working conditions, may also provide evidence. Even professional experience itself can serve as a valuable source of evidence.

•Scientific evidence, which includes findings from published scientific research. An organisation can use the research that has been conducted previously to address the issue of absenteeism from work. Despite the fact that the findings may not be directly related to the organisation, having a case study that was conducted in a similar setting would help to form basis.

•Organizational evidence- this includes the data, facts and figures that are gathered from the organization. For instance, the organisation may use HR metrics to determine how effectiveness and efficiency of the HR policies. Through the use of such HR metrics, it becomes possible to make comparison of the data points and make appropriate decisions to improve retention.

•Expert opinions: This entails the professional experience and judgment of experts in a certain professionals.

•Stakeholder evidences. Values and concerns from the stakeholders. For instance, when employees complain about certain issues, it affects their satisfaction levels; this can be valuable data to inform decision making process (CIPD 2021).

 Explain the importance of using data in organisations and why there is the need to ensure that data is accurate when determining problems and issues (AC 1.2).

The use data is imperative in the organisation as it helps in numerous ways as described by Bhagwan et al. (2018):
•Make Corrective Action: After completing the data analytics project, the organization can take remedial steps and implement the results inside the organization. At this stage, they have exploited HR data to produce value for the firm and contributed to its strategic objectives.
•Helps in Problem Solving: Data aids problem-solving by allowing companies to discover the root cause of issues more precisely. Data enables companies to visualize the interrelationships between various locations, departments, and systems. If the frequency of drug mistakes has increased, might staff turnover or vacancy rates be a contributing factor? Comparing these data points helps us to build more accurate hypotheses and implement more effective remedies.
•Data facilitates strategic decision-making: Effective data collection and analysis will help the company to allocate precious resources where they are most needed, therefore increasing efficiency. If a rise in serious occurrences is seen in a given service area, this data can be analyzed further to establish whether the rise is widespread. Additionally, data will assist companies in determining which regions should be prioritized above others, a task made easier by the use of reliable data.
•Data facilitates benchmarking: Good data enables businesses to define baselines, benchmarks, and targets to continue advancing. Because data enables measurement, the organization will be able to create baselines, identify benchmarks, and define performance objectives. A baseline is the condition of a certain region prior to the implementation of a particular remedy. To serve as a standard, the organization must rely on accurate data.

Other AC

• Explain the different types of quantitative and qualitative data measurements that people professionals use (AC 1.3).
• Explain how the application of agreed policies and procedures inform decisions (AC 1.6).
• Explain how people professionals create value for people, organisations and wider stakeholders. (AC 2.1).
• Summarise the ways in which you can be customer-focused, and standards-driven in your own context (AC 2.2).