Financial decision making in any organisation is usually supported by a range of quantitative techniques that are presented to management in a variety of ways, whether these are basic techniques or more sophisticated techniques, the end objective is to help management make a more informed decision.
You are required to discuss the importance of the presentation and analysis of management information and evaluate the different techniques in terms of how useful they are in helping management make more informed decisions. You should use examples to illustrate your discussion from an organisation of your choice.
Your assignment should include points such as:
- What types of statistics are used?
- How are these presented to management?
- What types of decisions are the statistics used for?
- How successful are the statistics in assisting management to reach decisions?
- What types of additional information might you like to see?
The learning outcomes for this assignment are:
- Apply understanding of quantitative decision-making techniques
- Critically evaluate the most appropriate forecasting model for specific business needs