A fun quiz to test managers knowledge about metrics.
Use this short quiz to help place a sparkle on your knowledge with metrics and KPI’s. Here are some fun questions that will help reinforce knowledge, make you smile and help the business prepare for the improved use of the company data and how to prepare in a more tactical and strategic way that helps your success.
For each correct answer, give yourself 10 points. (Answers available at the bottom of this post). We also have graded the scores and provide some tips based on your performance. - Now get to it!
1 What is a metric?
a) A standard of measurement b) A geometric function c) Both A and B d) A rare bird in Denmark
2 What does KPI stand for?
a) Keys Purse Iphone b) Keen Performer Indications c) Key Performance Indicator d) Kayak Patrol Inspector
3 Which of the below is a best used to predict results?
a) Leading metrics b) Lagging metrics c) Tea leaves d) Guessing
4 Which statement most true about KPI design?
a) KPI’s are best aligned to the organization strategy and priority
b) KPI’s should show me in the best light
c) KPI’s are all metrics
d) Just take a good performing measure from each department and we have a business dashboard
5 Complete this sentence “The data for metrics should best be…”
a) Taken only at the time of reporting
b) Timely, accurate and relevant.
c) Gained from any random sources available
d) Selected to make me look great
6 Within the world of metrics ROI typically means
a) Russian Or Indian b) Return Of Index c) Real Or Imagined d) Return On Investment
7 Which statement is most true?
a) Critical Success Factors are important within metric selection
b) Critical Success Factors has nothing to do with metrics
c) Critical Success Factors is just about the sales process
d) Critical Success Factors are the ways that I present my data to please management
8 Which of the below is a typical Key Results Indicator?
a) Number of sales visits b) Percentage of customer retention c) Gross Profit d) Number of graphs in a presentation
9 Which statement below is most true about Business Intelligence
a) Business intelligence comprises the strategies and technologies used by enterprises for the data analysis of business information. BI technologies provide historical, current and predictive views of business operations.
b) Business intelligence represents the knowledge and insights from the experience of key leaders. it is partially fact based but relies heavily upon gut feel and natural leadership instinct. BI technologies help leaders provide biased historical, current and predictive views of business operations based on their view point.
c) Business intelligence is a buzz word used for Excel, graphs and higher salaries for those working with data. It also is used as a marketing tool to sell software to show what we know already. In fact business intelligence is a dumb thing.
d) Business intelligence has all the answers for our business. It produces accurate data, great graphs and should be updated with new data about once a quarter.
10 Which of the below best describes what is NOT a vanity metric?
a) In 2 years I increased my sales from 20 to 40 Euros, that’s a 100% growth rate, so business is going the right way.
b) Our business is doing well, we got over 4000 likes on a social media post
c) Sales declined by 12% in Q2 but we think it’s OK as the rest of the market didn’t report huge increases.
d) Are you kidding me? All metrics should be actionable and aligned to the core business goals
NOTE: The answers are at the bottom of this post.
Scores 0 - 30 points: Your badge award status for this quiz is “FIRE STARTER”
You should read much more about KPI’s, metrics and business intelligence systems. Good sustainable business organizations need well managed and efficient insights to it’s markets and operations. You can certainly improve your knowledge and help improve performance greatly. As a start point we suggest talking to your peers and reading some more of our blog articles. Once you feel more confident, come back here and discover how far you have “leveled up”.
Scores 40 - 60 points: Your badge award status for this quiz is “APPRENTICE”
OK, so you have the basics but you still have a great journey ahead of you to improve your insights, knowledge and therefore the potential contribution to your organization. You have some core knowledge but there still remains large holes to be filled in with your understanding of how best to apply metrics. Come back and retest yourself at a future point. This will help validate your learning and phase of understanding.
Scores 70 - 90 points: Your badge award status for this quiz is “EXPLORER”
Well done so far. Your knowledge within the world of metrics, KPI’s and business intelligence has solid foundations. From here, you should explore more depth into the subject to help understand just how much more can be done to generate best in class insights, decisions and improvements for your organization. Retake this test after a while and see if you are ready to “level up”.
Score 100 : Your badge award status for this quiz is “CAPTAIN”
Congratulations, you know how to steer your ship and what makes for the basics of solid metrics, kpi’s and how business intelligence insights can help you and your organization. Now is the time to read and study much more about the subject and expand into other areas of performance management. Consider data analysis, statistics, benchmark standards, motivators, gamification techniques, data visualization improvements, target and goal setting theory. There is a long way to become admiral of the seas, but you certainly have a great foundation to build upon. Fair seas and good winds to you.