WGU C207 Data Driven Decision Making 5 questions with complete solutions

Results-based management (RBM)* CORRECT ANSWERS: management strategy that uses results as the central measurement of performance life-cycle approach CORRECT ANSWERS: dynamic, iterative process of incorporating changes in a project (or organization) over time by responding to feedback and adding new technology and new capabilities Input CORRECT ANSWERS: The first step of RBM is to define the resources, human or financial, used by the RBM system. This could include the people who are doing the work, the funds used to finance the work, and the information being accessed. Activities CORRECT ANSWERS: This second step of RBM involves the process that converts inputs to outputs. It includes the actions necessary to produce results. This could include training, evaluating, developing action plans, or working with media. Output CORRECT ANSWERS: This third step of RBM is when the outputs have been created by the RBM activities. This could include goods and services, publications, systems, evaluations, or changes in skills. Outcome CORRECT ANSWERS: This fourth step of RBM is the short-term effect that the outputs will have. It could include greater efficiency, more viability, better decision making, social action, or changed public opinions. Impact CORRECT ANSWERS: This last step when applying results-based management is to study the long-term effects that the output will have. This could include economic, environmental, cultural, or political change. big data CORRECT ANSWERS: a catch phrase that describes a massive volume of data that is so large that it is difficult to process using traditional database and software techniques Data Mining CORRECT ANSWERS: the process of searching customer data in order to detect patterns to guide marketing decision making index numbers CORRECT ANSWERS: measure the change in quantity or price over time for a good or a number of goods and services consumer price index CORRECT ANSWERS: a measure of the price level of a defined "basket" of consumer items purchased by households base period CORRECT ANSWERS: a period in time used as a point of reference when being compared to other time periods simple index number CORRECT ANSWERS: shows the change in