✔️ [Comp] Analytical Aptitude

Question 1

Delphi technique

Answer 1

Technique that progressively collects information from a group of anonymous respondents.

• This technique progressively collects information from a group on a preselected issue. The first respondent proposes information, the next respondent adds something different, and so on, until a list can be compiled. The respondents are anonymous. In the second round, the researcher circulates the list and asks each respondent in turn to refine previous ideas, to comment on each idea’s strengths and weaknesses for addressing the issue, and to identify new ideas.
• This technique is designed to facilitate group involvement, problem solving, and individual thinking while avoiding “group think,” where participants can be influenced by what others say.

Question 2

Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.

Answer 2

Regression analysis

Question 3

Statistical method that examines data from different points in time to determine if a variance is an isolated event or if it is part of a longer trend.

Answer 3

Trend Analysis

Question 4

Compares the relative size of two variables and yields a percentage
- Ex: turnover rate

Comparing the sizes of two variables to produce an index or percentage; commonly used to analyze financial statements.

Answer 4

Ratio Analysis

Question 5

Type of analysis that starts with a result and then works backward to identify fundamental cause.

Answer 5

Root-Cause Analysis:

Question 6

Distance of any data point from the center of a distribution when data is distributed in a “normal” or expected pattern.

Answer 6

Standard Deviation

Question 7

Data Cleansing:

Answer 7

• AKA “data wrangling”—a process by which incomplete sets, anomalies, errors, and gaps in the data are identified and addressed.
• Cleansing data is connected to validation and identifying bias, as these processes assess how useful and correct the data is. By cleansing the data collected, you can ensure that decisions are made based on better-quality data.

Question 8

Reflects the ability of a data-gathering instrument or tool, such as a survey or a rater’s observation or physical measurement, to provide results that are consistent

Extent to which a measurement instrument provides consistent results.

Answer 8

Reliability

Question 9

Extent to which a measurement instrument measures what it is intended to measure.

Answer 9

• answers: what does this instrument measure? how well does the instrument measure it?
• Validity reflects the degree to which a tool measures attributes that are relevant to the measurement’s intention.

Validity

Question 10

Statistical Sampling

Answer 10

• Sampling is often used when the population to be analyzed is very large or when data cannot be obtained from the entire population.
• The sample must be representative; it must accurately reflect the key characteristics of the entire population being studied.
• For example, the sample used in a wage survey of employees in a certain job should include the same ratio of genders and years of experience as for all employees in that job.

Question 11

Being able to apply the results of data gathering and analysis to make better busniess decisions

Answer 11

Evidence-based decision making EBDM

Question 12

examining an idea, a process, or an event with an open, objective, and inquiring mind. It’s a critical skill in EBDM using sound data to hypothesize, assess, and select solutions. refers to

Answer 12

Analytical Aptitude

Including these 4 –>

data advocacy
data analysis
data gathering
EBDM

Question 13

Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.

Answer 13

Scenario/what-if analysis

Question 14

Objective measurements that can be verified and used in statistical analysis.

Answer 14

Quantitative data

Question 15

Data-sorting technique in which group members add related ideas and indicate logical connections, eventually grouping similar ideas.

Answer 15

Mind mapping

Question 16

Technique that progressively collects information from a group of anonymous respondents.

Answer 16

Delphi Technique

Question 17

Small group of invited persons (typically six to twelve) who actively participate in a structured discussion, led by a facilitator, for the purpose of eliciting their input.

Answer 17

Focus group

Question 18

Middle range of values

Answer 18

Median

Question 19

Technique in which participants each suggest ideas through a series of rounds and then discuss the items, eliminate redundancies and irrelevancies, and agree on the importance of the remaining items.

Answer 19

Nominal group technique (NGT)

Question 20

Subjective evaluation of actions, feelings, or behaviors.

Answer 20

Qualitative data

Question 21

Raw average of data that gives equal weight to all values, with no regard for other factors.

Answer 21

Unweighted mean

Question 22

Average score or value

Answer 22

Mean

Question 23

Data-sorting technique in which a group categorizes and subcategorizes data until relationships are clearly drawn.

Answer 23

Affinity diagramming

Question 24

Value that occurs most frequently in a set of data.

Answer 24

Mode

Question 25

Weighted mean

Answer 25

Average of data that adds factors to reflect the importance of different values.

Question 26

Statistical method for identifying the degree of difference between planned and actual performance or outcomes.

Answer 26

**Variance analysis ** - Usually applied against schedules and budgets

Question 27

Ask - When faced with a problem, translate the situation into a question that can then be answered through information gathering. Acquire - Gather information from varied sources Appraise - Determine whether the evidence gathered is relevant, valid, reliable, accurate, complete, and unbiased. Aggregate - Combine and organize the data to prepare it for analysis. Determine the priority to be given to different types of information. Apply - See the logical connections within the data and with the issue. Use the data to draw conclusions, develop possible solutions, win sponsor support for a decision, and take action. Assess - Monitor the solution that has been implemented and objectively measure the extent to which the objectives have been attained.

Answer 27

Analytic Aptitude Mindset: Ben Eubank's 6 steps to consider:

Question 28

Effective data bb

Answer 28

🔐 Effective data advocates show that analysis does not exist for the sake of analysis; it is focused on making more informed decisions that minimize risk and maximize opportunities. They also assist in building a data-driven culture, encouraging EBDM throughout the organization, from the bottom up.

Question 29

Developing and inquiring mindset, learning what data drives the business and where it can be found, developing partnerships across the org to promote EBDM, and modeling the skill of EBDM to the entire org through the decisions HR makes and the plans of action it undertakes

Answer 29

Data Advocacy

Question 30

Being able to organize data so that it reveals patterns and to analyze it to detect logical relationships

Answer 30

Data Analysis

Question 31

Knowing what constitutes as sufficient, credible, and objective evidence and being able to find it

Answer 31

Data gathering

Question 32

Focus group bb

Answer 32

"🔐 The following are some important considerations regarding focus groups: A focus group is intended to provide a microcosm of the population being studied. Participants must, therefore, adequately represent that population to ensure representative information. Ideally, random selection should be used so that every employee has an equal chance of being selected and the diversity of the employee population is represented. Along with random selection, voluntary participation is another important consideration. Voluntary participation can help to ensure that the focus group will be a productive session with employees who are willing to share their views and opinions."

Question 33

Errors in statistics can occur when:

Answer 33

"Sampling: might not represent the general population Selection: when not randomly assigned Response: inverse of selection. not everyone responds Performance: people behave differently when they know they're being studied Measurement: raters are measuring incorrectly (on purpose or not)"

Question 34

Errors in statistics can occur when: bb

Answer 34

🔐 When using study results, HR professionals should be mindful of the information-gathering and analysis approaches used in the study, which are described in the study’s methodology section. These methods may reveal errors or the potential for error. If they are creating their own studies, HR professionals may want to consult with statistical experts and have them review their studies’ methodology.

Question 35

weight bb

Answer 35

🔐 Weighting is often used in creating scales for evaluation. For example, HR could use weighting in assessing job candidates when some of the requirements—like certain degrees or credentials—are considered to be more important than others. Similarly, when selecting a recruiter, HR may consider previous successful experience with the recruiting firm to be more important than the cost of the service.

Question 36

X diagrams are used to show relationships between two variables-in this case, education level and performance rating.

Answer 36

Scatter diagrams

Question 37

To know:

Answer 37

Analytics convert a metric into a decision support tool by adding context. HR measures collect and tabulate data. HR objectives and strategies stem from analytics.

Question 38

Trend vs regression analysis

Answer 38

-Trend analysis is comparing things that are going to happen - Regression analysis is comparing things that already happened