PO22 – Data analysis and decision support
You use commercial acumen to articulate business questions to resolve problems, exploit opportunities and identify and manipulate relevant data requirements; deeply analysing data by applying appropriate techniques. You draw clear conclusions and present your findings to enable relevant stakeholders to make sound business decisions.
Performance objective elements
The five elements of each performance objective describe the tasks, skills and behaviours that trainees must demonstrate in order to achieve the objective.
a. Identify any relevant financial and non-financial data and use it to provide insights to answer important business questions and provide solutions for your organisation.
b. Use appropriate analytical tools to process, manipulate and analyse data. These tools could include spreadsheet applications or more technical statistical analysis software.
c. Apply modelling techniques to deliver specific types of analysis, which may include: scenario analysis, forecasting, optimisation problems or cost-benefit analysis.
d. Use data and resulting information ethically and responsibly, analysing and interpreting data sceptically to draw appropriate conclusions and make recommendations to support effective decision-making.
e. Communicate the recommendations to relevant stakeholders in a way they can easily visualise and understand, to exploit business opportunities, manage risk and evaluate performance.
Data, Digital and Technology
A. Identifies strategic options to add value, using data and technology.
B. Analyses and evaluates data using appropriate technologies and tools.
C. Applies technologies to visualise data clearly and effectively.
D. Applies scepticism and ethical judgement to the use of data and data technology.
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