WGU C207 Data Driven Decision Making Module 6 Exam (Answered) Graded A+

WGU C207 Data Driven Decision Making Module 6 Exam (Answered) Graded A+ Performance measures are used to _______ the efficiency of an individual or group by using _________ and analytics. evaluate, data collection What does KPI stand for? Key Performance Indicator Which of the following could be an appropriate key performance indicator (KPI)? consumer return rate Which of the following is an advantage of key performance indicators (KPIs)? KPIs can be used as a tool across an entire organization. What is a balanced scorecard? A management tool that measures key performance indicators across four key organization areas Which one of the following is a disadvantage of balanced scorecards? a. They do not improve organization alignment. b. They do not involve a relatively easy process to develop a meaningful scorecard. c. They fail to link a company's operations with its strategy. They do not involve a relatively easy process to develop a meaningful scorecard. Answers A and C are advantages. Balanced scorecards do not involve a relatively easy process to develop a meaningful scorecard. For a balanced scorecard, about how many performance measures should be included? A number limited to the most crucial measures A net promoter score is determined from results, on a scale from 0 to 10, of a question about the customer's opinion of the company. What are the categories used in NPS? Promoters, Passives, and Detractors What is an advantage of a net promoter score system of measurement? NPS is easy to calculate and understand. Return of sales, referrals and average tenure of employees are examples of business performance measures. (T/F) True Performance measures can be used to assess the performance of an entire organization, as well as an individual contributor. T/F True "SMART" criteria is an acronym for small, manageable, accepted, reliable, timely. Often KPIs will follow "SMART" criteria for different company goals. T/F False. "SMART" criteria stands for specific, measurable, attainable, relevant, and time-bound. The key word that entirely does not fit is "small" KPIs usually are applied to quantify company-wide goals.