D356 Workforce Analytics Pro Test Questions And Correct Answers.
3 views 0 purchase
Course
D356
Institution
D356
Balanced scorecards: - Answer Focused on creating leading indicators of performance from several important perspectives (such as customer satisfaction, process effectiveness, and employee development) as well as financial performance.
HR metrics: - Answer Attributes of an organization's HR p...
D356 Workforce Analytics Pro Test
Questions And Correct Answers.
Balanced scorecards: - Answer Focused on creating leading indicators of performance from several
important perspectives (such as customer satisfaction, process effectiveness, and employee
development) as well as financial performance.
HR metrics: - Answer Attributes of an organization's HR programs and activities, or its related outcomes.
Some examples of HR metrics include: - Answer turnover rate, head count, cost of conducting a training
program etc.
Tracking common organizational metrics can aid in: - Answer benchmarking efforts.
Workforce analytics: - Answer Strategies for combining data elements into metrics and for examining
changes in metrics or the magnitude of relationships among them
Purpose of workforce analytics: - Answer Helps to inform managers about the state of human capital in
an organization and its impact on decision-making. Helps to determine what metrics the organization
needs, what data elements are relevant and need to be captured, and how these data elements should
be combined.
Benchmarking: - Answer It is a method of creating useful comparisons between or within organizations.
The Saratoga Institute premiered in developing: - Answer information on standard HR metrics and
informed managers about differences in HR outcomes among major organizations.
The purpose of benchmarking: - Answer Benchmarking helps to draw comparisons between HR
practices and human capital in terms of cost and outcomes. It helps an organization to understand where
it is currently placed in the HR landscape and what level can it reach in terms of HR outcomes.
, Challenge in benchmarking HR metrics: - Answer The challenges faced by an organization and its
corresponding HR practices differ from other organizations.
Data mining: - Answer It is the effort used to identify patterns that exist within data and which in turn
may identify unrecognized causal mechanisms that can be used to enhance decision-making.
To identify causal mechanisms, data mining uses: - Answer correlation and multiple regression methods
and identifies patterns of relationships.
Big Data: - Answer It is used to extract insights when multiple transaction systems generate large
datasets (of many terabytes). Consider the case of Google or any social media website that can generate
very large datasets. The data can be mined to draw inferences about customer preferences and can thus
help managers to achieve better sales, customer satisfaction, and reduced costs.
Big Data is considered valuable because of three important characteristics: - Answer volume, variety,
and velocity.
Volume: - Answer It offers very large amount of data that is sufficient to draw useful patterns and, in
some cases, additional insights too.
Variety: - Answer Offers access to wide range of data elements, thus making new data available to the
organization.
Velocity: - Answer Data are generated at a fast pace thus making decision cycles shorter.
data mining can expose: - Answer spurious or nonsensical relationships.
Relationships between variables can be identified but data mining plays no role in determining if these
relationships are: - Answer meaningful, casual, or of any significance to the organization. Example: taller
employees have higher leadership scores.
Another drawback of data mining is that it can: - Answer capture relationships that existed in previous
patterns of relationship too.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller COCOSOLUTIONS. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for $10.09. You're not tied to anything after your purchase.
