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Decision Making - Learning Aim B

Department weekly meeting

AGENDA

Amcanion Dysgu

01.

Describe and give examples of primary & secondary sources of data

02.

Explain key issues regarding storage of information

03.

Using Business decision making models to aid decision making

Analyzing data

NEWS

WHERE WE

ARE

What is the difference between data and information?

Data & Information

Data - Raw facts obtained from secondary and primary sources. Businesses cannot take decisions based upon raw facts

Information - Processed data. Decisions can be made using processed data

The better the quality of information, the better the quality of business decisions

Data Storage

All businesses have a legal, regulatory and ethical responsibility to store data correctly.

There are many laws that impact how a business needs to store their data including: Data Protection Act 2018 and EU Data Protection

Regulations (GDPR) and the Freedom of Information Act

Analysing data – the 5-step process

1 Define the problem – what do you want to

know?

2 Collect data – from secondary and primary

data sources

3 Analyse the data – process the data to obtain

information

4 Present the results – in charts, diagrams

5 Draw conclusions – to inform the decision

Update 1

Representative Values

Update 2

Update 2

ANNOUNCEMENTS

COMPANY

NEWS

NEWS

EVENTS

NEW

EMPLOYEES

NEW

HIRE

Name

Department

Start date

NEW

HIRE

NEW

HIRE

Name

Department

Start date

NEW

HIRE

SPECIAL

DATES

SPECIAL

DATES

Name

Birthday

Department

Name

Years with Company

Department

MAR

FEB

JAN

WHAT'S

NEXT

WHAT'S NEXT

MAR

JAN

FEB

KEEP

IN

MIND

KEEP

IN

MIND

01.

02.

03.

CHANGES

CHANGES

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