Describe the Three Common Forms of Data-Mining Analysis

question 20

Essay

Describe the three common forms of data-mining analysis?

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Definitions:

Direct Labor Cost

The total cost of work done by employees who are directly involved in the manufacture of a product or in performing a service.

Balanced Scorecard Approach

A strategy performance management tool that incorporates financial and non-financial performance indicators to provide a more comprehensive view of an organization's health.

Capacity Utilization Perspective

An assessment of how effectively an entity uses its potential output capacity, measuring the extent to which it's achieving maximum efficiency.

Labor Price Variance

The difference between the actual cost of labor and the budgeted or standard cost of labor.