Policy Purpose and Context
Coffee Huse is a reputable coffeehouse chain operating across the nation with a strong brand image. To maintain our quality outlook in the public domain, we continuously strive for further improvement. Information and knowledge management (IKM) plays a central role in this context.
This policy and procedures manual sets out the standards and practical instructions to conduct appropriate data analyses on our corporate knowledge and document findings accordingly. The Business Intelligence Officer (BIO) must follow these standards to ensure professional practices are consistently undertaken throughout the (IKM) processes.
The aim is to:
This policy applies to all activities involved in the preparation and documentation of business performance reports and tools.
This policy is in effect as at April 2018. It will remain in effect until a new version is approved by Coffee Huse management team.
Procedures
1. Data Preparation
The BIO must source and gather reliable information in order to ensure currency, relevancy, and accuracy. To achieve this, the BIO must:
This is crucial to yield accurate and effective decision making. The BIO must ensure the following quality standards in organisational datasets:
The BIO must undertake the necessary data cleansing practices to ensure the data quality standards listed above.
2. Tabling Data
Depending on the analysis undertaken, the BIO may need to table findings. This must be done using a cross-tabulation format to quantitatively analyse the relationship between multiple variables.
The format of a cross-tab must conform to the following standards:
Each cross-tab must follow an explanation to ensure the reader accurately interprets the findings and easily understands the outcomes.
3. Visualising Data
The BIO may need to use charts to visualise data. The charts must:
A sample chart format is given below:
In addition to visually depicting the trend in the data with a trendline, the BIO must also show the equation of the line displaying the correlation coefficient. The BIO must provide their interpretations on this correlation coefficient.
4. Decision Making
The managerial decision-making model is a formal set of procedures designed to avoid premature decisions which may have a financial, political, and time impact on the organisation. The model is fundamentally based on group decision making and strictly refuses making strategic decisions at an individual level. The model is illustrated in the next page.
Once a business problem is identified, next step is to collect data which is essential to make a decision. It is critical that this information is validated to ensure its accuracy, authenticity, and reliability. As soon as all contradictory data are filtered out and quality of information is met, the data are then analysed using appropriate quantitative statistical methods based on its format. The output of this process is to mine out hidden patterns, emerging trends and the relationship between possible root causes. These initial findings must be drafted in a formal business report to follow a logical approach to the evaluation of the evidence and conclusions.
Next, this draft report must be communicated and consulted with relevant stakeholders which may include executive management, subject matter experts, specialists, and other relevant persons. This consultation must employ a data-driven approach, explain outcomes with evidence from findings, and mutually agree on the most promising options. This is to ensure decisions are taken within the acknowledgement of individual/group who are responsible to make the most favourable decision.
At last, the formal business report must be finalised incorporating the action plan as mutually agreed by all stakeholders during the consultation session. This action plan then must be implemented in a timely fashion to avoid any potential damage that may occur due to delays in the process.
Each internal member of Coffee Huse must follow the steps outlined above when reaching a decision. This model is aligned to the organisation’s values below to an extent where managerial decisions are made through these ethical principles.
These above procedures must be carried out in line with our core values:
5. Disseminate Information
The BIO must develop a communication plan prior to disseminating critical information. Upon the receipt of feedback from other stakeholders involved, the BIO must update the communication plan as required.
The BIO must use the following template for the communication plan:
Communications Plan |
|
Target Audience |
Who is this information for? |
Message |
What is this information to be shared with other stakeholders? |
Deliverable |
What is the objective of disseminating this information? |
Channel |
How is this information to be disseminated? By which medium? |
Frequency |
By when and in what rate of occurrence this information to be communicated? |
Notes |
Are there any changes required at this stage? If yes, what are they? |
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