Unit of competency
Modification History
Release |
TP Version |
Comment |
1 |
AMPv1.0 |
Initial release |
Application
This unit describes the statistical skills and knowledge required to support decision making for a business or business unit.
This unit applies to leaders or managers who use data analysis and decision-making skills and techniques in the management of their day-to-day work. They must assemble or obtain raw data, process that data and analyse and interpret it in a way that enables sound decision-making.
No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.
Pre-requisite Unit
Nil.
Unit Sector
Elements and Performance Criteria
Element |
Performance criteria |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Identify and access data sources available to the business |
1.1 Scope and define data collection requirements of the business question or issue 1.2 Identify and assess data sources 1.3 Research and/or collate data in accordance with legislation, policies and guidelines 1.4 Evaluate accuracy and appropriateness of data 1.5 Record data in the desired format in accordance with professional, business and task requirements |
2. Apply data analysis and decision making techniques to analyse business data |
2.1 Collect, store and retrieve data using software in accordance with legislation, policy and guidelines 2.2 Use spreadsheet tools to retrieve data and present it in suitable formats 2.3 Display graphical data in accordance with presentation principles 2.4 Perform quantitative and/or qualitative analysis to obtain required outcome 2.5 Use analysis and descriptive tools and techniques appropriately given the nature of the information and the required outcomes 2.6 Identify and describe methodological limitations 2.7 Calculate summary statistics from the given data set in accordance with the business requirement |
3. Produce information for business decision making |
3.1 Interpret data summaries and trends in accordance with accepted standards 3.2 Interpret and explain statistical tests 3.3 Interpret data to enable informed business decision-making 3.4 Present data, charts and maps clearly for ease of understanding 3.5 Include glossaries, technical notes and referencing, where required 3.6 Prepare and present reports that include statistical concepts, tables, charts and maps in accordance with enterprise policies and procedures 3.7 Present findings appropriately for the audience 3.8 Use charts appropriately in presentations, taking into account the variables being charted and accepted standards 3.9 Communicate assumptions informing interpretation in accordance with audience needs |
Foundation Skills
Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.
Range of Conditions
Unit Mapping Information
MTMBUS803A Analyse data for business decision making |
E |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=5e2e56b7-698f-4822-84bb-25adbb8443a7