Human Resource Certification Matters

Every time you open your email, you notice the mails about certifications that are suitable for you. As you browse through an expert’s profile, you review the kind of certifications he or she has acquired. This leads you to check on the human resource management courses  and you explore their importance to your career growth. Why do you think that an HR practitioner needs to be certified? 

There are many reasons as to why HR certification matters. Here are a few of the most important ones:

Demonstrates a Committed Focus towards Self-Learning

When an HR professional seeks to undergo a certification, it shows his or her committed towards their career and the desire to learn about what is new in their expertise area. It indicates that they want to be aware of the latest HR trends so that their knowledge base is always superior to their competitors.

Adds Credibility  

It adds more credibility to the professional’s claim of being an expert in their area of work. Organizations perceive them to be more competent and qualified for the role they are performing. It refreshes previous knowledge and adds new aspects of learning to your skill set. That makes you an even more valuable resource for your firm. 

Adds Confidence

As an HR professional, you will feel more confident in your own knowledge and technical expertise, when there is external validation of that. That can happen only through a good certification program. It gives you a better sense of what your strengths are and how to leverage those. It also gives you the chance to close any existing knowledge gaps, and ensure that you remain employable with the right set of skills in your arsenal.

Opens Up New Opportunities

Many of the HR certifications are either global or relevant in multiple markets. So undergoing the same will give you the option of receiving better opportunities, working in other countries and also looking at higher salary. You are in a position to look at a wider horizon even in terms of the roles you apply for, or want to work in. 

The job market is becoming extremely competitive. People with the same set of skills will be vying for the same jobs. The only way to have an advantage is through remaining relevant and ensuring that you are a step ahead when it comes to knowledge. Some jobs have certifications has a prerequisite. So for both these reasons, having an HR certification programs matters.  

Basic Business Finance Management Approach

Business finance management deals with that part of business which controls and manages the acquisition and conservation of funds for business activities necessary to attain the business objectives. Financial management would ascertain the speed and scope of business growth in short, mid and long term. It would therefore also determine financial goals of the business and what should compose the assets of the firm. The financial mix is also determined by the business finance management. The team also determines how to fix, control and manage the financial activities of the business. There are different approaches to attain this. These are discussed below:

Traditional Approach

This approach was popular during the early stages of business. This approach was limiting and it limited the scope of financial management to accessing and managing funds for business activities. It included activities like arranging funds from financial institutions or through instruments like bonds, shares etc.and managing the legal and accounting aspects of the firm with respect to its corporate relationships. Even though limiting, the success or failure of a firm often depended on the financial decisions taken. The discerning and efficient management of funds is crucial to attaining the business objectives. One of the most important objectives is to increase the wealth for the shareholders. Also, in this approach, the responsibility of the team includes maintaining liquidity or profitability or both for the firm. 

Modern Approach

As per the modern approach, the scope of financial management broadens to become a part of the entire management process as a whole. This approach provides the conceptual and analytical framework  to help aid the financial management and decision-making process. This approach has become common due to the globalization and liberalization of economies. With the use of information technology several financial reforms have been created.  The major decisions made as per this approach are:

• The Investment Decision: These decisions pertain to the allocation of resources for different projects. Projects may include purchase of movable or immovable assets, equipment, machinery as well as acquisition of or merger with another company. The investment must be made only when the ROI is expected to be greater than the hurdle rate.

• The Financing Decision: These decisions ensure that the mix of debt and equity which is used for financing a decision, enhances the value of the asset or purchase.The mix must be such that it minimizes the hurdle rate and allows the organization to make more investment decisions as well as enhance the value of the investments already made.

• The Dividend Policy Decision: These relate to the amount of profits that must be distributed among the owners or shareholders of a company as well as the frequency with which these profits are distributed. There are two ways in which the dividend decisions effect:

The amount of money that is paid and the impact it has on the share price.

 
The amount of money that is held back in order to make future investments as well as other internal investments such that the value of the firm increases. 

Liquidity & Profitability

The financial manager must balance the liquidity and profitability of a firm. This is one of the most frequent dilemmas faced by a finance manager. Liquidity is the amount of cash available which can help the firm to take care of its short term requirements. Whereas profitability requires the finance manager to allocate resources in a way that enhances returns. Offline or online finance courses cover these topics in far more detail and students aspiring to be financial managers must go through such a course.

What An IT Manager Needs To Know About Analytics

The digital landscape is expanding at an exponential rate with more data being collected every second, every day, every week. But what is the significance of all of this data?

The prime aim of any analytical tool is to analyze data and extract actionable information that you can use to increase the results or performance. With so many different tools out there, it might be difficult to know what to use and when. You can master all the tools and techniques with the help of analytics courses online. Here are some important aspects of analytics tools that every IT manager needs to know:

1. Visual Analytics

The simplest way to analyze data is to create a visual or graph and have a look at it to spot trends or patterns. Especially useful when trying to make sense out of huge volumes of data, these combine analytics with visualization and human interaction.

2. Correlation Analytics

Is there a relationship between two distinct variables and how strong is it? It is a statistical technique and useful when you want to test your assumption regarding the relationship of the variables in a business scenario.

3. Scenario Analysis

When confused what course of action to pursue, try this approach. This process enables you to analyze a variety of possible future events by considering alternative possible outcomes.

4. Predictive Analytics

Collect data at uniformly spaced intervals and try to extract a meaningful trend out of it. Use it when you want to assess changes over time and predict events based on what happened in the past.

5. Data Mining

Explore large sets of data to find commercially relevant insights, patterns or relationships between variables to improve business performance.

6. Sentiment Analytics

This seeks to extract subjective opinion or sentiment from a text, audio or video data. Use it when you want to understand the stakeholder’s opinion regarding a particular scenario or overall context.

7. Cohort Analysis

This allows you to study the behavior of a group of people over time. It can be really useful to know about customer behavior or other stakeholders like employees and more

8. Image Analytics

Facial recognition used for security is a type of image analysis. Extracting information and insights from photos, medical images or graphics is what it’s all about.

9. Voice Analytics

It is the process of acquiring information from audio conversations. This form of analytics can help to analyze the emotional content as well as the actual words or phrases being used.

10.Linear Programming

This is a method of identifying the best outcome based on a set of constraints. Using a linear mathematical model helps you solve problems with minimizing and maximizing conditions. Based on several constraints like time, raw materials, resources you can know the best combination that will direct you to maximum profit.

These are the key analytical tools that all businesses need to know about. Learn about all these tools with the help of data analytics courses and become an expert.