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Question 3 - CBDA discussion

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An analytics system is being developed by relying entirely on research questions that are framed using the results from benchmarking. Which research question is being asked?

A.
Which customers provide the greatest profit to the company?
Answers
A.
Which customers provide the greatest profit to the company?
B.
How efficient is the company compared to its competitors?
Answers
B.
How efficient is the company compared to its competitors?
C.
Will more profit be made if we increase or decrease our sales price?
Answers
C.
Will more profit be made if we increase or decrease our sales price?
D.
Which employees are we in danger of losing?
Answers
D.
Which employees are we in danger of losing?
Suggested answer: B

Explanation:

Benchmarking is a method of comparing the performance of a business with others in the same industry or with industry standards12. It helps to identify areas of improvement and best practices for superior performance34. A research question that is framed using the results from benchmarking would focus on how the company compares to its competitors or to the industry average on a specific metric or process. For example, how efficient is the company compared to its competitors? This question would require the company to measure its efficiency using a relevant indicator, such as cost per unit, time per task, or output per employee, and compare it to the same indicator for its competitors. This would help the company to identify its strengths and weaknesses, and to find ways to improve its efficiency and gain a competitive advantage

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asked 18/09/2024
Sharankumar Nadarajah
32 questions
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