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MGT602_Assess 3_Research Analysis 1 of 4 A SSESSMENT 3 BRIEF Subject Code and Title MGT602 Business Decision Analytics Assessment Research Analysis Report Individual/Group Individual Length Up to...

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MGT602_Assess 3_Research Analysis 1 of 4
A SSESSMENT 3 BRIEF
Subject Code and Title MGT602 Business Decision Analytics
Assessment Research Analysis Report
Individual/Group Individual
Length Up to 2,000 words
Learning Outcomes a) Select and evaluate the usefulness of a range of
decision making tools and reflect on you
decision-making styles and contrast with othe
styles to determine the respective levels of
ationality and intuition utilised
) Compare, contrast and critically evaluate sources
of data as influences for decision-making in a
ange of business contexts
c) Examine and evaluate decision making systems
and techniques to engage group decisions and
analyse how these can enhance sustainable
outcomes
d) Critically examine emerging tools and
technologies for decision making
Submission
12 week class: By 11:55pm AEST/AEDT Friday of Module
6.1 (Week 11)
Intensive 6 week class. By 11.55pm AEST Friday of
module 6.1 (week 6)
Weighting 40%
Total Marks 40 marks
Context: Workplaces today are changing rapidly in parallel with rapid advances in technology and
means of communication with teams separated in terms of space and time, that is different
geographic locations and time zones, not only within countries, but also across continents. This is
something that we in To
ens adapt to on a daily basis as part of a global organisation. We need to
take into account not only time and space, but other elements of diversity to collaborate effectively
for organisational outcomes.
Task:
This assignment is designed for you to critically reflect on key themes for this subject: individual and
group decision-making processes; sources of data and analysis, including usage of data analytics for
organisational decision-making, and the influence of bias in effective decision-making.
MGT602_Assess 3_Research Analysis XXXXXXXXXX2 of 4

In doing so, you should consider a meaningful work challenge – a project that requires many
decisions to be made- that is relevant for you- in your cu
ent, or recent workplace. [NOTE: To
ens
University is a workplace and you have a special role in it.].
CHECKPOINT: Submit a draft of your outline and discuss your report proposal with your Learning
Facilitator by WEEK 9.
Your task is to analyse the project from the perspective of decision-making points/stages. In the
analysis, you are to consider:
1. The sources of data, and the use of data analytics to identify trends/ patterns that form
the evidence for decision-making;
2. Show visualisation of the decision-making process, and analytics to support the decision-
making;
3. Select at least three decision-making tools and technologies from within the subject
modules and show their application for your project. Consider if the decision would be
the same/ different by using multiple methods.
4. Present the findings of your results in a business style report that includes clear headings
to guide the reader and visualisation of the data sources/trends/ patterns, and is
underpinned with evidence from relevant contemporary literature, including major
esources from within the subject modules.
5. Reference according to the APA 6th. Ed. reference style guide, available at Student Hub
@ To
ens.
Submission Instructions:
1. Submit your report to Turn-It-In.
2. Submit your report and TII report via the Assessment link in MGT602 Business Decision
Analytics on the Student Portal.
3. The Learning Facilitator will provide feedback via Grade Centre in the Student Portal.
Feedback can be viewed in My Grades.

MGT602_Assess 3_Research Analysis XXXXXXXXXXPage 3

Learning Ru
ic: MGT602 Assessment 3 Research Analysis Report 40% (40/100 marks)
Assessment Criteria
Fail
(Unacceptable)
0-49%
Pass
(Functional)
50-64%
Credit
(Proficient)
65-74%
Distinction
(Advanced)
75 -84%
High Distinction
(Exceptional)
85-100%
1. Critically reflect
on the key themes for
this subject: individual,
group decision-making
and business analytics,
and reduction of bias for
more effective business
decision-making.
(25% -10 marks)
Little or no authentic
personal reflection on
individual, group and
usiness decision-making and
the use of analytics for
organisations.

No, or limited reflection on
ias

Some personal reflection on
individual, group and business
decision-making and the use of
analytics in organisational
decision-making is evident,

Some reflection on bias is
evident.
A clearly authentic personal
eflection on individual, group
and business decision-making
and the use of analytics is
evident, with clear links to the
influence of bias on decision-
making.
Comprehensive reflection on
individual, group and business
decision-making and the use
of analytics, with clear links to
the influence of bias on
decision-making.
Comprehensive and sophisticated
eflection on individual, group and
usiness decision-making and the
use of analytics is evident, including
implication of bias and blind spots
for decision-making.
2. Examine and
analyse at least three
decision-making tools
and technologies to
demonstrate their
application in the
workplace.
(25%- 10 marks)
Little or no reference made
to conceptual frameworks
and explicit decision-making
tools and technologies.
Basic coverage of at least three
decision-making tools and
technologies, with reference to
conceptual frameworks, data
analytics and their workplace
application.
Clear analysis and comparison
of at least three decision-
making tools and technologies,
with reference to conceptual
frameworks, data analytics and
their workplace application.
Well-developed analysis and
comparison of at least three
decision-making tools and
technologies, with reference
to conceptual frameworks,
data analytics and their
workplace application.
Sophisticated analysis of at least
three decision-making tools and
technologies, with reference to
conceptual frameworks, data
analytics and their workplace
application.
3.Prepare a business
style report with clear
headings and visual
interpretation and
presentation of data
trends/ patterns
(25%- 10 marks)
Report lacks logical
coherence and clear
structure
Limited data analysis and no
visual representation of data.
Report has basic logical
flow and structure.
Basic concepts and analysis are
explained
Attempts basic visual
epresentation of data.
Report has a clear
logical flow and
structure.
Clear expression of
concepts and analysis.
Adequate visual
epresentation of data
trends/ patterns
Report has a strong
logical flow and
structure.
Accurate Executive
Summary.
Conclusion accurately
captures key learning.
Clear visual representation of
data trends/ patterns
Excellent logic and structure.
Concise, accurate Executive
Summary
Conclusion accurately captures
deep learning and insights.

Creative and engaging visual
epresentation of data
trends/ patterns.
4.Support your
argument with relevant
contemporary literature
including major
esources from within
the subject modules.
(25%- 10 marks)
No, or few references from
within subject learning
esources.
Many e
ors in text citations
and reference list according
to APA referencing
guidelines.
Makes some attempt to use
elevant references from within
subject learning resources.
Several major and minor e
ors
in text citations and reference list
according to APA referencing
guidelines.
References support an
adequate argument and
application of major concepts
from within subject learning
esources.
Several minor e
ors in text
citations and reference list
according to APA referencing
guidelines.
References support a mostly
comprehensive argument and
application of major concepts
from within subject learning
esources.
Strong level of accuracy of in-
text citations and reference
list according to APA 6th ed.
style guidelines; minor e
ors.
Sophisticated references support
comprehensive argument and
application of major concepts from
within subject learning resources.

High level of accuracy of in-text
citations and reference list
according to APA 6th ed. style
guidelines.
MGT602_Assess 3_Research Analysis XXXXXXXXXXPage 4
    Learning Ru
ic: MGT602 Assessment 3 Research Analysis Report 40% (40/100 marks)
Answered 248 days After Jan 28, 2021 MGT602

Solution

Sourav Kumar answered on Jan 29 2021
137 Votes
Introduction:
The cultural diversity of the workforce of an organisation like To
ens, can either strengthen or
eak the development of an organisation. A properly trained culturally diverse workforce can be very effective in the process of decision making. Decision making involves choosing the most profitable or suitable choice among the available alternatives. It is considered to be one of the most significant functions of the management of an organisation. Different functions of the management like organising, planning, staffing, coordinating, directing are made through decisions. When decision making process of an organisation is efficient it will be as to utilise its resources better, promoting the growth of the business. Efficient decision making helps an organisation to weigh its strengths and weaknesses to devise a proper plan to achieve its objectives along with facilitating me and increasing efficiency. Some of the decision making tools that can be used by the management of To
ens are discussed in this study.
Usefulness of a range of decision making tools:
Marginal Analysis
Marginal Analysis is a decision making tool that works by weighing the benefits of an activity or input against the costs required for its implementation. This analysis is helpful to business leaders in determining whether the activity or input is going to provide the maximum ROI or return-on-investment. Conducting a marginal analysis. Conducting marginal analysis requires identifying and changing a variable like the quantity of input or volume of output used. Then the increase in the total benefit is determined. If the marginal cost exceeds the marginal benefit, there is a net benefit after which the marginal unit of variable is to be added. This decision making tool is effective as it takes resources, preferences as well as informational constraints into consideration so that it helps the managers to make more informed and optimal decisions.
SWOT Diagram
SWOT diagrams as a decision making tool is often used when a significant change might take place in the organisation. The SWOT diagram helps the management to
eak down the situation into four categories. Each letter stands for one such categories
· Strength - Takes into consideration both the external and internal strengths possessed by an organisation.
· Weaknesses - Inspects the factors that might be hurting the growths and development of the organisation.
· Opportunities - Analyses how strengths can help to create new opportunities for the organisation as well as how doing away with a weakened can open up a new opportunity.
· Threats - Challenges or threats in the way of achieving goals are identified and analysed.
SWOT analysis is helpful in identifying the forces that can influence our plan, initiative or an action. To
ens can use this decision making tool as in such situation it will help the organisation to follow the right directions along with providing support to the decisions being made.
Decision Matrix
In case, To
ens or any other organization is going through a difficult time trying to choose between various variables or choices, Decision Matrix can be helpful in clearing the disa
ay. This decision making tool is like a list of pros and cons where the user can accurately weigh the options against one another. Therefore, a decision matrix is a chart that helps the management team to identify analyses and understand the strength of the relationship between two or more steps of information, through a systematic method. The decision matrix will be useful for To
ens specially when it will be looking at a huge number of factors of decisions and will be assessing each one of their importance in relation to the other.
Pareto Principle
The decision making tool, Pareto Principle helps to identify changes that will prove to be most effective for an organisation. The principle has been named after Vilfredo Pareto, an economist who discovered that a distribution of 80/20 happens on a regular basis in the world. That is, 20 percent of the factors usually contribute to 80 percent of the growth of an organisation. Pareto's principle can be very useful for To
ens in cases of determining the areas which are to be focused with resources and efforts so that maximum profit and efficiency can be achieved. The management or teams can use the rule of 80/20 to prioritize their...
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