Study Terms Data-Driven Decision Making

There are two types of statistics (Analytics)

• Descriptive and Inferential

• inform / Explanatory

• Predict / Trend

Descriptive statistics are used to ______

• Inform / Explanatory

• Predict / Trend

• Descriptive and Inferential

Inferential statistics are used to ______

• Predict / Trend

• Inform / Explanatory

• Descriptive and Inferential

Name the 4 levels of measurement

• (NOIR) Nominal, Ordinal, Interval Ratio

• Plan - Do – Study – Act

Use Data to describe what has happened over a given time period

• Descriptive Analytics

• Predictive Analytics

• Prescriptive Analytics

Use Data from the past to predict the future

• Predictive Analytics

• Descriptive Analytics

• Prescriptive Analytics

Use Data to determine the best possible decision to puruse

• Prescriptive Analytics

• Descriptive Analytics

• Predictive Analytics

Which Quality Management Principle does the following describe:

Organizations should work to understand customers' current and future needs and strive to meet or exceed those needs. Focusing on your customers' needs can result in increased customer satisfaction and loyalty. Loyal customers will return for repeat business and may share their positive experiences with others. This improves your organization's reputation and expands your customer base, which leads to an increase in revenue and market share.

• Customer Focus

• Leadership

• Engagement of people

• Process Approach

Which Quality Management Principle does the following describe:

Quality management activities and programs require strong leaders who will ensure that teams are disciplined in their approach and remain aligned on clear goals and objectives. A strong leader who guides activities will increase the team's understanding of its objectives and minimize miscommunication among project participants. Organizations with established leaders at all levels may see improvements in the team's coordination, resulting in more effective and efficient teams.

• Leadership

• Engagement of People

• Process Approach

• Improvement

Which Quality Management Principle does the following describe:

People at all levels of the organization must be fully engaged and involved in the pursuit of quality to maximize its benefits to the organization. Fully involved participants will be more motivated and committed to project success and continued improvement. The leaders of an organization should treat everyone with respect. People are more likely to engage if they feel empowered and their work gets the recognition it deserves.

• Engagement of People

• Process Approach

• Improvement

• Evidence-Based Decision Making