WGU C207 Data Driven Decision Making Terms
(Complete Solutions)
Activities (RBM stage)
second step involves the process that converts inputs to outputs (actions necessary to
produces results - training, evaluating, developing)
Alternative hypothesis
The argument that either a sample is not equal to, greater than, or less than the
hypothesized null sample
Analysis of Variance (ANOVA)
a technique used to determine if there is a sufficient evidence from sample data of three
or more populations to conclude that the means of the population are not all equal
Analytics
The discovery, analysis, and communication of meaningful patterns in data.
Autocorrelation
A relationship between two variables that is inherently non-linear
Balanced Scorecard
An approach using multiple measures to evaluate performance, including financial
measures, and the non-financial measures of customers, internal business processes,
and learning and growth.
Bar chart
A graph that measures the distribution of data over discrete groups or categories.
Benchmarks
Standards or points of reference for an industry or sector that can be used for
comparison and evaluation.
Big Data
very large amounts of data; an all-encompassing term for any collection of data sets so
large and complex that it becomes difficult to process them using traditional data
processing applications
Blind Study
A study performed where the participants are not told if they are in the treatment group
or control group
body mass index (BMI)
A measure, based on a person's weight and height, that is used to classify people as
underweight or overweight.
Business process
A sequence of logically related and time based work activities to provide a specific
output for a customer.
Central Limit Theorem
A theorem that states that, the greater the sample, the closer the mean of the sample is
to the entire population and the more the results will look like a normal distribution
Cluster Analysis
The process of arranging terms or values based on different variables into "natural"
groups
Cointegration
, Occurs when two time series are moving with a common pattern due to a connection
between the two time series
Combination
The number of different unordered possibilities for a certain situation.
Complement
The occurrence of an event not happening, the opposite
Confidence interval
An interval estimate used to indicate reliability
Continuous Data
Data that can lay along any point in a range of data
Control chart
A graphic display of process data over time and against established control limits, and
that has a centerline that assists in detecting a trend of plotted values toward either
control limit.
Control limits
The area composed of three standard deviations on either side of the centerline, or
mean, of a normal distribution of data plotted on a control chart that reflects the
expected variation in the data
Criterion-reference test
compare an individual to certain defined standards
Critical Success Factors
The important things an entity must do to be successful, such as quality measures,
customer service, or efficiency.
Cumulative Average-Time Learning Model
A learning curve model in which the cumulative average time per unit declines by a
constant percentage each time the cumulative quantity of units produced is doubled
Cumulative distributions
The probability that a random variable will be found at a value less than or equal to a
given number
Customer satisfaction
A measure of the extent to which customers are satisfied with the products and related
services they received from a supplier.
Cycle time
The total elapsed time to move a unit of work from the beginning to the end of a
physical process, as defined by the producer and the customer.
Cyclicality
Repetition of up (peaks) or down movements (troughs) that follow or counteract a
business cycle that can last several years
Data Management
The management, including cleaning and storage, of collected data.
Data Mining
the process of discovering patterns in large data sets; performed on big data to decipher
patterns from these large databases
Data Set
A collection of related data records on a storage device.
Davenport Kim Three Stage Model
(Complete Solutions)
Activities (RBM stage)
second step involves the process that converts inputs to outputs (actions necessary to
produces results - training, evaluating, developing)
Alternative hypothesis
The argument that either a sample is not equal to, greater than, or less than the
hypothesized null sample
Analysis of Variance (ANOVA)
a technique used to determine if there is a sufficient evidence from sample data of three
or more populations to conclude that the means of the population are not all equal
Analytics
The discovery, analysis, and communication of meaningful patterns in data.
Autocorrelation
A relationship between two variables that is inherently non-linear
Balanced Scorecard
An approach using multiple measures to evaluate performance, including financial
measures, and the non-financial measures of customers, internal business processes,
and learning and growth.
Bar chart
A graph that measures the distribution of data over discrete groups or categories.
Benchmarks
Standards or points of reference for an industry or sector that can be used for
comparison and evaluation.
Big Data
very large amounts of data; an all-encompassing term for any collection of data sets so
large and complex that it becomes difficult to process them using traditional data
processing applications
Blind Study
A study performed where the participants are not told if they are in the treatment group
or control group
body mass index (BMI)
A measure, based on a person's weight and height, that is used to classify people as
underweight or overweight.
Business process
A sequence of logically related and time based work activities to provide a specific
output for a customer.
Central Limit Theorem
A theorem that states that, the greater the sample, the closer the mean of the sample is
to the entire population and the more the results will look like a normal distribution
Cluster Analysis
The process of arranging terms or values based on different variables into "natural"
groups
Cointegration
, Occurs when two time series are moving with a common pattern due to a connection
between the two time series
Combination
The number of different unordered possibilities for a certain situation.
Complement
The occurrence of an event not happening, the opposite
Confidence interval
An interval estimate used to indicate reliability
Continuous Data
Data that can lay along any point in a range of data
Control chart
A graphic display of process data over time and against established control limits, and
that has a centerline that assists in detecting a trend of plotted values toward either
control limit.
Control limits
The area composed of three standard deviations on either side of the centerline, or
mean, of a normal distribution of data plotted on a control chart that reflects the
expected variation in the data
Criterion-reference test
compare an individual to certain defined standards
Critical Success Factors
The important things an entity must do to be successful, such as quality measures,
customer service, or efficiency.
Cumulative Average-Time Learning Model
A learning curve model in which the cumulative average time per unit declines by a
constant percentage each time the cumulative quantity of units produced is doubled
Cumulative distributions
The probability that a random variable will be found at a value less than or equal to a
given number
Customer satisfaction
A measure of the extent to which customers are satisfied with the products and related
services they received from a supplier.
Cycle time
The total elapsed time to move a unit of work from the beginning to the end of a
physical process, as defined by the producer and the customer.
Cyclicality
Repetition of up (peaks) or down movements (troughs) that follow or counteract a
business cycle that can last several years
Data Management
The management, including cleaning and storage, of collected data.
Data Mining
the process of discovering patterns in large data sets; performed on big data to decipher
patterns from these large databases
Data Set
A collection of related data records on a storage device.
Davenport Kim Three Stage Model
