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Unit Overview
This unit demonstrates the types of information held in the workplace, how it can be used to gain a competitive edge and how it must comply with legislation by the end of this unit you shall;
Understand how organisations gather, analyse and use data
Be able to explain the characteristics of “good” data
Be able to select and use data to support business activities
Be able to present data in an appropriate format for specific purposes
LO1 – Understand how organisations use business information
Assessment Criteria; P1, P2, M1
Managing information is an important activity in any organisation. Effective information management means using information to ensure that organisational purposes are met, whether it is ensuring efficient day-to-day operations and meeting longer-term goals.
High street banks (Halifax, Santander, Barclays etc) use a wide range of information. Some of this information is produced by the bank and some is produced elsewhere. Banks also supply information to other parts of the bank and to outside agencies. The Priory School also uses a wide range of information but in many different ways compared to a bank.
To achieve a P1 you need to explain how organisations use business information. In order to explain this you must first understand the following key terms.;
a. Information vs. Data
b. Quantative vs. Qualitative data
c. Primary vs. Secondary sources of information
d. Internal vs. External information
e. How data flows (use a diagram)
f. Business functional areas
**Create a PowerPoint or Report explaining how different organisations use information. You will need to include examples of how different businesses use business information.
**To achieve P1 you also need to study the management information reports in public (that are produced throughout the school) and produce a report for each of the individual reports to summarising the key facts about them. For each report you
This unit demonstrates the types of information held in the workplace, how it can be used to gain a competitive edge and how it must comply with legislation by the end of this unit you shall;
Understand how organisations gather, analyse and use data
Be able to explain the characteristics of “good” data
Be able to select and use data to support business activities
Be able to present data in an appropriate format for specific purposes
LO1 – Understand how organisations use business information
Assessment Criteria; P1, P2, M1
Managing information is an important activity in any organisation. Effective information management means using information to ensure that organisational purposes are met, whether it is ensuring efficient day-to-day operations and meeting longer-term goals.
High street banks (Halifax, Santander, Barclays etc) use a wide range of information. Some of this information is produced by the bank and some is produced elsewhere. Banks also supply information to other parts of the bank and to outside agencies. The Priory School also uses a wide range of information but in many different ways compared to a bank.
To achieve a P1 you need to explain how organisations use business information. In order to explain this you must first understand the following key terms.;
a. Information vs. Data
b. Quantative vs. Qualitative data
c. Primary vs. Secondary sources of information
d. Internal vs. External information
e. How data flows (use a diagram)
f. Business functional areas
**Create a PowerPoint or Report explaining how different organisations use information. You will need to include examples of how different businesses use business information.
**To achieve P1 you also need to study the management information reports in public (that are produced throughout the school) and produce a report for each of the individual reports to summarising the key facts about them. For each report you