Unit 6: Business Decision Making
In business, good decision making requires the effective use of information. This unit gives learners the opportunity to examine a variety of sources and develop techniques for four aspects of information: data gathering, data storage, and the tools available to create useful information and present it.
Computers are used in business for much of this and thus the appreciation and use of appropriate IT software is central to the completion of this unit. Specifically, learners will use spreadsheets and other software for data analysis and the preparation of information. The use of spreadsheets for the manipulation of numbers, and understanding of how to apply the results, are seen as more important than the mathematical derivation of formulae used. They will also gain an appreciation of information systems currently used at all levels in an organisation as aids to decision making.
To achieve this unit a learner must:
Levinson Productivity Systems PC — quantitative techniques outlined
National Institute of Statistics — variety of quantitative techniques
Mindtools — very useful management tools
Biz/ed provides case studies appropriate for educational purposes
Up My Street — local information anywhere in UK
Office for National Statistics -
Official Government Statistics
Eurostat - Official EU Statistics
CIA World Factbook - Information on all the countries of the world, including economic, geographical and political data.
OECD Statistics - Other statistical sources - Information on economic, geographical and political data.
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