Abc Assignment Help

MGT602 Research Analysis Report of NIC ASIA BANK Assessment 3 Answer


Subject Code and Title MGT602 Business Decision Analytics

Assessment Research Analysis Report

Individual/Group Individual

Length Up to 2,000 words

Learning Outcomes

  1. Select and evaluate the usefulness of a range of decision making tools and reflect on your decision-making styles and contrast with other styles to determine the respective levels of rationality and intuition utilised

  2. Compare, contrast and critically evaluate sources of data as influences for decision-making in a range of business contexts
  3. Examine and evaluate decision making systems and techniques to engage group decisions and analyse how these can enhance sustainable outcomes
  4. Critically examine emerging tools and technologies for decision making

Weighting 40%

Total Marks 40 marks

Context: Workplaces today are changing rapidly in parallel with rapid advances in technology and means of communication with teams separated in terms of space and time, that is different geographic locations and time zones, not only within countries, but also across continents. This is something that we in Torrens adapt to on a daily basis as part of a global organisation. We need to take into account not only time and space, but other elements of diversity to collaborate effectively for organisational outcomes.


This assignment is designed for you to critically reflect on key themes for this subject: individual and group decision-making processes; sources of data and analysis, including usage of data analytics for organisational decision-making, and the influence of bias in effective decision-making.

In doing so, you should consider a meaningful work challenge – a project that requires many decisions to be made- that is relevant for you- in your current, or recent workplace. [NOTE: Torrens University is a workplace and you have a special role in it.].

Your task is to analyse the project from the perspective of decision-making points/stages. In the analysis, you are to consider:

  1. The sources of data, and the use of data analytics to identify trends/ patterns that form the evidence for decision-making;
  2. Show visualisation of the decision-making process, and analytics to support the decision- making;
  3. Select at least three decision-making tools and technologies from within the subject modules and show their application for your project. Consider if the decision would be the same/ different by using multiple methods.
  4. Present the findings of your results in a business style report that includes clear headings to guide the reader and visualisation of the data sources/trends/ patterns, and is underpinned with evidence from relevant contemporary literature, including major resources from within the subject modules.
  5. Reference according to the APA 6th. Ed. reference style guide, available at Student Hub @ Torrens.

Submission Instructions:

  1. Submit your report to Turn-It-In.
  2. Submit your report and TII report via the Assessment link in MGT602 Business Decision Analytics on the Student Portal.
  3. The Learning Facilitator will provide feedback via Grade Centre in the Student Portal. Feedback can be viewed in My Grades.


Research Analysis Report


There are various decision making tools available to make business decisions about various factors. NIC ASIA Bank is spread across various branches that are geographically separated. The decision making within a team and also group decision making process will involve the use of sourcing data for decision making and analysis of that data to make use of it. The decision making tools that can be used in banking scenarios also have been analysed. Group decision making process and different group rules has been discussed (Pappas,, 2018).

Research question:

How can the decision making tools can contribute in the decision making style of the business?

Context of the decision making the organization:

The sources of data includes conducting research to source primary data and also take the help of secondary data to make use of the finding for own benefit. The sourcing of data should be done in a meticulous way so that the data becomes relevant to take some decisions based on it. The quality and comprehensiveness of that data should also be checked so that its aids in decision making process. The group decision making will involve a lot of individuals, so in this case the bank officials or managers those are separate in different geographic regions have to take a collective decision so that it aids the overall efficiency of the bank (Nalchigar and Yu,2018). 

The data that has been sourced has to be analysed using data analytics tools and also the use of data mining has to be used to identify the patterns in customer behaviour and trend that are providing pointers in a certain direction. These pointers need to be identified in a proper manner. These indications will provide the basis to form a decision. These identified patterns can also act as very potent document to convince the management that a shift in consumer behaviour is noticed; hence some changes in the existing products need to be done. For example, in case of NIC ASIA Bank the customers may have been inclined towards a credit card offer that was launched as a pilot project to test the customer response (Thirathon,, 2018). If the findings from that pilot project is good and the customers are responding in a positive manner, then the project can be continued. That means that credit card offer has been liked by the customers and the offer can now be considered as a good option to increase the credit card sales of the bank. The same can work in case of loans. If a loan scheme is liked by the customers that data can be analysed, and in case a trend in customer behaviour is noticed, for example, the customer aged between 25-35 are mostly taking the benefits of that loan then the scheme can be continued for the long run.

The decision making process in most cases use visualisation techniques to understand the outcome of the research or data analysis (Griva,, 2018). These are analysed in the form of bar graphs, or pie charts, or line graphs etc. The legendary Microsoft Excel can be used as a very potent tool to aid in decision making process. There are other software solutions also present in the market so that the managers can make use of it. Data mining software or artificial intelligence that is used to identify the patterns in consumer behaviours also are capable to show the results in visualised format for better understanding of the managers or the decision makers (Evangelopoulos,, 2018). These analysis techniques takes the help different information systems to take decisions regarding the functioning and various operations of the bank and also other external counterparts that are associated with the bank. Such as individual agents for loans and credit cards or small micro-finance organisations that sell the products of the bank at a profit. The information system is normally called management information system in broader systems term. But it has components that function as tools to aid decision making at different levels of the management of the bank. As it is known that every organisation has primarily three levels of decision making, the first is the top level management which are concerned towards making policy decisions also they are concerned about the acquisitions and mergers and other matters like entering new markets etc, the second one is the middle level management which is concerned with making outline of the execution plan to implement the policy decision that has been made (Chen and Nath, 2018). This middle level also acts as a bridge between the top level management and the operational management which is also called the lower level management. The outline of the is not only made by the middle level but they are also responsible for making the operational understand the process of implementation and monitor that the implementation is made properly. Next is the operational level management which is primarily concerned about implementing the decisions taken by the top management and the middle level management of the bank. It actually works like hand and leg in the human body ( Grover,, 2018). 

DM frameworks:

Consensus based decision makingThe benefit of a consensus based decision making model is the decision will be agreeable to everyone who are involved in the decision making process. Consensus based decision making will involve taking into account the opinions of everyone in the decision making and selecting the best alternative. The alternative selection process will involve the agreement of everyone involved. The teams or the individuals in the bank have to get involved in brainstorming the solution development process (Carillo,, 2018). After finding different solution that can be used to increase the efficiency of the bank the positives and the negatives of the solutions need to be analysed by sitting in a meeting or series of meeting. Then the right solution can be determined. The consensus based decision making will benefit the organisation by several ways. The best thing that will happen to the organisation will be the involvement of the management that took the decision. The sense of ownership of the decision taken will work every individual who is involved in the decision making process (Krishnamoorthi and Mathew, 2018). So, it is expected that they will oversee the implementation part also. The monitoring of the implementation is another important aspect in decision making. If the decision taken is implemented in a faulty way then it can create problems to the organisation.

Unilateral or directive based decision making: The unilateral decision making will involve one person or a group of individual taking the decision of the whole organisation. In this case the bank has a distributed middle level management. Specifically it will be the bank managers in different branches (Delen and Zolbanin, 2018). They will be the one who will act as the middle management involved in taking decision about the ways of implementation and also make understand the operational manger the process. Then the branch manager also has to oversee the implementation process so that the overall objective is achieved. There is one benefit with this process of decision making, it is the speed of the decision making process. The reason being, only one individual or one group will be involved in the decision making process, so the time taken for consultation will be minimal. This will aid in quick decision making. The benefit of this reduced time can really be beneficial if some urgent response has to be made to counter the competitors. But the problem in this decision making model is the factor wrong decision making and promoting autocracy in the system(Aydiner,, 2019). Other teams will not get involved in the process of decision making. Hence, if they are not agreed to the process on principle, then the implementation can be a problem for the bank. The managers those are responsible for the implementation will not be motivated to do the job. So the implementation can be faulty and can be slow. This problem can jeopardise the entire objective of the decision making. So Autocratic decision making should be avoided in case of a distributed system like banks. The reason being, hence it is geographically separated, it can different problems. The different geographic regions have their own problems, and people’s mindset does change with geographic region. So the issue and the process of implementation should be different (Akter,, 2019). Different behavioural factors will also get involved due the geographic separation. That is the reason; unilateral decision making will not be beneficial for the bank.

Democratic Decision Making: This can be an option for the bank. It has multiple benefits like, the decision that will be taken will be agreeable by the majority of the person involved in the decision making process. There will be voting about the different alternatives, and the alternative that has been voted as best for the organisation will be implemented (Sun,,2018). This process in one hand is fare, but on the other hand it will also create a group of people who will differ with the implementation. So, the problem of some people not getting involved in the implementation process will remain. Although the impact will be lot less that the unilateral decision making model. The group that is against this alternative has been chosen by voting will not get motivated to implement the decision. In that case the objective of taking the decision will not get fulfilled in the regions these groups are operational. This will create disparity among the organisation. Some of the regions will function in one way and other regions will function in another way. This disparity will also create confusion among the customers of the bank (Hazen,, 2018). Many customers do travel a lot, and they will find the process of service delivery is different in different areas. This can have the potential to drive out the customers to the competitors. The implementation should be universal and the customers should have same kind of experience while dealing with the bank in different region. This will give the customer a feeling of cohesion about the internal atmosphere of the bank (Delen, 2018). That will in turn acclimatise the customer in a certain way of service delivery. That will help to retain long term customers. 


For conducting the research, secondary data have been used and those are about the theories on decision making processes and the processes that are used by NIC ASIA Bank. The data are based on the discussions about the tool and for analyzing the process of decision making through these tools. Data on each tool have been sampled separately and analyzed. The data that have been collected are solely based on the theories provided in the secondary resources and the ethics have been maintained for this.


NIC ASIA Bank needs to chose the effective tools according to structure of the decision making process. The consensus based decision making can be highly effective as this can help in analyzing the perception of all the stakeholders of the business which makes the decision suitable for all.


The bank need long term customers to pitch new products and to increase the cross selling. The long term customers will also enable the bank to hold the market share for the longer period and increase the financial efficiency of the bank. That means the customers should be feeling comfort in doing business with bank. To make the customers comfortable the internal atmosphere of the bank should reflect cohesion and coordination in service delivery. Analysing the above decision making process in the banking atmosphere, it can be surely said that the consensus based decision making will be most suitable for the bank. This will enable the bank have a dedicated work force that is decided and focused about the implementation of the decisions taken and are fully dedicated to serve the customer better. This dedication will only come if the workforce feels that their opinion counts in the decision making process. This can only be done through the consensus based decision making. This model will provide the bank the coordination that is needed and the dedication from the workforce to implement the decision. 


In this assignment, different decision making tools have been identified along with their respective functions. The business of NIC ASIA Bank has been analyzed and the decision making processes in the company with these tools have been evaluated. Research questions have been provided to conduct the research based on those.

Customer Testimonials