Critical Evaluation Flashcards
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.
Trend analysis
- Trend analysis describes patterns in the past and projects future conditions based on those patterns.*
- For example, HR can see when declines in certain types of degrees will become problematic for the organization and require a strategic response.*
Value that occurs most frequently in a set of data.
Mode
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.
Nominal group technique (NGT)
Average of data that adds factors to reflect the importance of different values.
Weighted mean
- useful in situations where there are significant outliers in the spread of data*
- Example: HR could use this in assesing job candidates when some req. like certain degrees or credentials are considered to be more important than others*
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.
Focus group
Raw average of data that gives equal weight to all values, with no regard for other factors.
Unweighted mean
Type of analysis that starts with a result and then works backward to identify fundamental cause.
Root-cause analysis
Comparing the sizes of two variables to produce an index or percentage; commonly used to analyze financial statements.
Ratio analysis
Net profit margin, for example, is a ratio that compares net revenue with costs. Many commonly used HR metrics are ratios, such as the turnover rate (comparing the number of terminations or resignations in a time period with the average number of employees in that period).
Average score or value.
Mean
Mean is synonymous with average
Middle value in a range of values.
Median (50th percentile, middle value in a range of values)
Preferred measure of central tendency
Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.
Scenario/what-if analysis
Distance of any data point from the center of a distribution when data is distributed in a “normal” or expected pattern.
Often shown as a “bell curve”
Standard deviation
68% of data lies within one standard deviation
Example of it’s use on page 279 or Frequency Distributions
Data-sorting technique in which group members add related ideas and indicate logical connections, eventually grouping similar ideas.
Mind mapping
Statistical method for identifying the degree of difference between planned and actual performance or outcomes.
Variance analysis
Technique that progressively collects information from a group of anonymous respondents.
Delphi technique
members work as a group without ever meeting
prevents “group think”
Data-sorting technique in which a group categorizes and subcategorizes data until relationships are clearly drawn.
Affinity diagramming
Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
Regression analysis
EBDM
evidence-based decision making
Steps in Evidence-Based Decision Making
Ask ~ when faced w/a problem, translate the situation into a Q that can be answered through info gathering.
Aquire ~ Gather info from varied sources
Appraise ~ Is the evidence relevant, valid, reliable, accurate, complete, and unbiased?
Aggregate ~ Combine + organize data for analysis
Apply ~ Use data to draw conclusions, develop solutions, win support for and take action
Assess ~ Monitor the solution