Data-Driven Decision Management Is Usually Undertaken as a Way to Gain

question 113

Multiple Choice

Data-driven decision management is usually undertaken as a way to gain a competitive advantage. A study from the MIT Center for Digital Business found that organizations driven most by data-based decision making had ________ productivity rates and ________ profits.

• A) 4% lower, 6% higher
• B) 4% higher, 6% lower
• C) 4% higher, 6% higher
• D) 4% lower, 6% lower

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Definitions:

5-number Summary

A descriptive statistics tool that consists of the minimum, first quartile, median, third quartile, and maximum of a data set.

Z-score

A statistical measure that describes a value's relationship to the mean of a group of values, measured in terms of standard deviations from the mean.

Standard Deviations

A gauge for evaluating how much the data values vary or diverge from each other in a dataset.

Data Values

The individual pieces of information or numerical figures that are collected and analyzed in a study.