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Assignment Brief - Unit 5002V1: Information based decision making
Version 1: Nov 13 Page 1 of 2
Unit 5002V1 - Information based decision making
Introduction
This unit is about understanding the sources of management information within an organisation, and being able to analyse the information in order to identify patterns and trends. It is also about being able to use simple decision making models and methods of presenting decisions as well as understanding how to communicate management decisions effectively.
Scenario
Learners may use their own employment context, or that of another organisation with which they are very familiar, to base their assignment. However, in the case that they are not able to do so, please use the below scenario:-
You are a manager, leading a department in a medium sized company. You are required to analyse and present management information and to communicate decisions made to a range of different audiences.
Task 1:
Examine and provide examples of the differences between data and information. Evaluate at least three different sources of management data and information, preparing a table to evaluate the benefits and possible limitations of each source of information in terms of its usefulness in helping managers to make sound business decisions. Discuss the selection criteria you would apply to ensure the quality and integrity of the data and information you use for management decision making. Give reasons for each selection criterion.
Guideline word count: 600-700 words
A.C. 1.1 - Examine the nature of data and information
A.C. 1.2 - Evaluate relevant sources of data and information
A.C. 1.3 - Discuss the criteria for selection of data and information
Task 2:
Write a summary to demonstrate your understanding of the current UK legislation regarding the collection, use and storage of data and information. Describe the…...

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