Business Finance Homework Help

I’m stuck on a Data Analytics question and need an explanation.

Response Guidelines

Focus on leaders of today and what is needed for these leaders to use data to move their organization forward.

Student post down below:

guenole et al. (2017) cited that many large companies and governments are using data to drive decisions regarding their everyday workings and overall goals. The authors indicated that this data can be utilized in order to increase productivity or profits, as well as customer and employee retention rates for example (Guenole et al., 2017). This is witnessed in many aspects of our personal and professional lives, ranging from product surveys to customer/employee satisfaction surveys. I currently work for a state government organization. My employer utilizes data to drive almost every aspect of what we do.

           For example, headquarters leadership conducts an annual employee satisfaction survey every November. The data collected from this survey is compiled and analyzed to formulate an annual report that is shared with all employees who work within my division. This report is typically shared with employees in January or February of the following year. The information is then divided by region for each regional administrator to address areas in which satisfaction scores are lower than the previous year or simply do not meet the benchmark set forth by headquarters. The regional leadership then meets with all employees in an open forum meeting to discuss regional issues. The information recorded from these sessions are then categorized and focus groups identified to work towards solutions to the issues ascertained. The process continues until the next round of surveys and then starts over again.

           In addition, my division performs a similar process in regard to quality assurance (QA). Benchmarks have been set forth by headquarters in regard to timely response to reported allegations, specific investigative closure timeline, etc. A formal QA is conducted every March, randomly selecting a representative sample of investigations to undergo a rigorous QA process. Once this process is completed an analysis of the data collected is presented to all employees in their respective regional division. This is done in the form of meetings to discuss all results with a focus on deficiencies. From this point, regional leadership teams perform root cause analysis in terms of the deficiencies in order to prepare a performance improvement plan to be carried out over the next year. Data is compared each year to identify areas in which service quality is still lacking so that a further root cause analysis of the issue can take place.

           Any leader, in any organization can utilize different types of data in order to make changes within their organization. The process is similar to the processes utilized by the governmental organization that I currently work for. The areas in which data collection is necessary need to be identified. Proper data collection methods can then be utilized to gather data for the outlined areas. These methods may include the methods of big data described by Salganik (2019) or they may include smaller scale methods that are appropriate. After collection, data should be analyzed to find trends or essential information pertaining to the research. Potential solutions can be drawn collaboratively in order to make decisions on how to address what has been found. Once this has been completed the team would then develop a plan for implementation, as well as determine how progress will be measured throughout implementation.