SERIES ISBA 510 TERMS AND ACRONYMS - MIDTERM COMPLETE QUESTIONS AND CORRECT ANSWERS | GRADED AND THE LATEST SERIES

2025-2026 SERIES
ISBA 510 TERMS AND ACRONYMS - MIDTERM
COMPLETE QUESTIONS AND CORRECT ANSWERS |
GRADED AND THE LATEST SERIES
RDW


Ans: Real-time Data Warehousing
- Data used for decision making data are updated on an ongoing basis as business
transactions occur


Question: DMAIC


Ans: Define, Measure, Analyze, Improve, Control
- define goals, measure existing system, analyze system for ways to eliminate gap
between current and goal, improve with actions to eliminate gap (better, cheaper,
faster), control with management systems like incentives, policies, procedures,
budgets, instructions


Question: DMADV


Ans: Define - Measure - Analyze - Design - Verify
A Six-Sigma process that outlines the steps needed to create completely new
business processes or products


Question: BSC


Ans: Balanced Scorecard
- A performance measurement and management methodology that helps translate
an organization's financial, customer, internal process, and learning and growth
objectives and targets into a set of actionable initiatives


Question: KPI