Practice Metrics for Evaluating Business Decisions - 18.7 | 18. Data Science for Business and Decision- Making | Data Science Advance
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What does ROI stand for?

πŸ’‘ Hint: Think about the returns compared to what was invested.

Question 2

Easy

What is NPS?

πŸ’‘ Hint: It assesses how likely customers are to recommend a business.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What does ROI stand for?

  • Return on Investment
  • Return on Indebtedness
  • Rate of Income

πŸ’‘ Hint: What is the return you get from your investment?

Question 2

Is the Net Promoter Score used to measure customer satisfaction?

  • True
  • False

πŸ’‘ Hint: It's about how customers feel about recommending the service.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company implemented a new marketing strategy that costs $100,000 and leads to an additional $250,000 in sales. Calculate the ROI and interpret the result.

πŸ’‘ Hint: Think about what the net gain is after accounting for the initial investment.

Question 2

A business reduced its turnaround time from 7 days to 3 days after applying process improvements. Discuss how this could impact their operational efficiency.

πŸ’‘ Hint: Consider the customer perspective and how they measure satisfaction related to service speed.

Challenge and get performance evaluation