In business, good decision making requires the effective use of information. This unit gives learners the opportunity to examine a variety of sources and develop techniques for four aspects of information: data gathering, data storage, and the tools available to create useful information and present it.
Computers are used in business for much of this and thus the appreciation and use of
appropriate IT software is central to the completion of this unit. Specifically, learners will use
spreadsheets and other software for data analysis and the preparation of information. The use of
spreadsheets for the manipulation of numbers, and understanding of how to apply the results,
are seen as more important than the mathematical derivation of formulae used. They will also
gain an appreciation of information systems currently used at all levels in an organisation as
aids to decision making.
Summary of learning outcomes
To achieve this unit a learner must:
- Use a variety of sources for the collection of data, both primary and secondary
- Apply a range of techniques to analyse data effectively for business purposes
- Produce information in appropriate formats for decision making in an organisational context
- Use software-generated information to make decisions at operational, tactical and strategic levels in an organisation.
Suggested Reading
Quantitative Methods: A Business Perspective
Quantitative Methods for Business Decisions
Management Information Systems
Quantitative Methods for Business
Web Links
Project Management, critical path analysis
Levinson Productivity Systems PC — quantitative techniques outlined
National Institute of Statistics — variety of quantitative techniques
Mindtools — very useful management tools
For research or secondary data
Biz/ed provides case studies appropriate for educational purposes
Department of Trade and Industry
Business Open Learning archive
Up My Street — local information anywhere in UK
Office for National Statistics -
Official Government Statistics
Eurostat -
Official EU Statistics
CIA World Factbook -
Information on all the countries of the world, including economic, geographical and political data.
OECD Statistics - Other statistical sources -
Information on economic, geographical and political data.
