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Business Decision Making AimThe aim of this unit is to give learners the opportunity to develop techniques for data gathering and storage, an understanding of the tools available to create and present useful information, in order to make business decisionsLearning outcomes and assessmentLO1 Be able to use a variety of sources for the collection of data, both primary and secondary1.1 create a plan for the collection of primary and secondary data for a given business problem1.2 present the survey methodology and sampling frame used1.3 design a questionnaire for a given business problemLO2 Understand a range of techniques to analyse data effectively for business purposes2.1 create information for decision making by summarising data using representative values2.2 analyse the results to draw valid conclusions in a business context2.3 analyse data using measures of dispersion to inform a given business scenario2.4 explain how quartiles, percentiles and the correlation coefficient are used to draw useful conclusions in a business contextLO3 Be able to produce information in appropriate formats for decision making in an organisational context3.1 produce graphs using spreadsheets and draw valid conclusions based on the information derived3.2 create trend lines in spreadsheet graphs to assist in forecasting for specified business information3.3 prepare a business presentation using suitable software and techniques to disseminate information effectively3.4 produce a formal business report LO4 Be able to use software-generated information to make decisions in an organisation4.1 use appropriate information processing tools4.2 prepare a project plan for an activity and determine the critical path4.3 use financial tools for decision making.
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Please view this short video (https://www.youtube.com/watch?v=8FMtugoDjbQ) and read the following article before starting this module assignment:
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