Analytical Aptitude Flashcards
Affinity diagramming
Data-sorting technique in which a group categorizes and subcategorizes data until relationships are clearly drawn.
Delphi technique
Technique that progressively collects information from a group of anonymous respondents.
Focus group
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.
Mean
Average score or value.
Median
Middle value in a range of values.
Mind mapping
Data-sorting technique in which group members add related ideas and indicate logical connections, eventually grouping similar ideas.
Mode
Value that occurs most frequently in a set of data.
Nominal group technique (NGT)
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.
Qualitative data
Subjective evaluation of actions, feelings, or behaviors.
Quantitative data
Objective measurements that can be verified and used in statistical analysis.
Ratio analysis
Comparing the sizes of two variables to produce an index or percentage; commonly used to analyze financial statements.
Regression analysis
Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
Reliability
Extent to which a measurement instrument provides consistent results.
Root-cause analysis
Type of analysis that starts with a result and then works backward to identify fundamental cause
Scenario/what-if analysis
Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.
Standard deviation
Distance of any data point from the center of a distribution when data is distributed in a “normal” or expected pattern.
Trend analysis
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.
Unweighted mean
Raw average of data that gives equal weight to all values, with no regard for other factors.
Validity
Extent to which a measurement instrument measures what it is intended to measure.
Variance analysis
Statistical method for identifying the degree of difference between planned and actual performance or outcomes.
Weighted mean
Average of data that adds factors to reflect the importance of different values.
