1. Activities (RBM stage): second step involves the process that converts inputs to
outputs (actions necessary to produces results - training, evaluating, developing)
2. Alternative hypothesis: The argument that either a sample is not equal to,
greater than, or less than the hypothesized null sample
3. 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
4. Analytics: The discovery, analysis, and communication of meaningful patterns in
data.
5. Autocorrelation: A relationship between two variables that is inherently non-lin-
ear
6. Balanced Scorecard: An approach using multiple measures to evaluate perfor-
mance, including financial measures, and the non-financial measures of customers,
internal business processes, and learning and growth.
7. Bar chart: A graph that measures the distribution of data over discrete groups or
categories.
8. Benchmarks: Standards or points of reference for an industry or sector that can
be used for comparison and evaluation.
9. 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
10. Blind Study: A study performed where the participants are not told if they are
in the treatment group or control group
11. body mass index (BMI): A measure, based on a person's weight and height,
that is used to classify people as underweight or overweight.
12. Business process: A sequence of logically related and time based work activ-
ities to provide a specific output for a customer.
13. 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
14. Cluster Analysis: The process of arranging terms or values based on different
variables into "natural" groups
15. Cointegration: Occurs when two time series are moving with a common pattern
due to a connection between the two time series
16. Combination: The number of different unordered possibilities for a certain
situation.
17. Complement: The occurrence of an event not happening, the opposite
18. Confidence interval: An interval estimate used to indicate reliability
19. Continuous Data: Data that can lay along any point in a range of data
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, WGU Data Driven Decision Making - C207 Exam Test with Verified Answers
20. Control chart: A graphic display of process data over time and against estab-
lished control limits, and that has a centerline that assists in detecting a trend of
plotted values toward either control limit.
21. 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
22. Criterion-reference test: compare an individual to certain defined standards
23. Critical Success Factors: The important things an entity must do to be suc-
cessful, such as quality measures, customer service, or efficiency.
24. 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
25. Cumulative distributions: The probability that a random variable will be found
at a value less than or equal to a given number
26. Customer satisfaction: A measure of the extent to which customers are satis-
fied with the products and related services they received from a supplier.
27. 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.
28. Cyclicality: Repetition of up (peaks) or down movements (troughs) that follow
or counteract a business cycle that can last several years
29. Data Management: The management, including cleaning and storage, of col-
lected data.
30. Data Mining: the process of discovering patterns in large data sets; performed
on big data to decipher patterns from these large databases
31. Data Set: A collection of related data records on a storage device.
32. Davenport Kim Three Stage Model: A decision making model developed by
Thomas Davenport and Jinho Kim that consists of three stages: framing the problem,
solving the problem, and communicating results
33. Dependent Variable: The variable whose value depends on one or more vari-
ables in the equation; typically the cost or activity to be predicted
34. Detractor: A category of customer used in the calculation of the Net Promoter
Score that indicates an unhappy customer.
35. Discrete Data: Data that can only take on whole values and has clear bound-
aries
36. Double Blind Study: A study performed where neither the treatment allocator
nor the participant knows which group the participant is in
37. Economic Value Added (EVA): Net income (after taxes) earned in excess of
the amount of net income required to earn the company's cost of capital.
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