Business Performance in analytics includes which of the following components?

Prepare effectively for the WGU MHRM6020 D435 HR Technology and People Analytics Exam. Use our flashcards and multiple choice questions with hints and explanations to boost your confidence. Ace your exam!

Business performance in analytics encompasses a variety of components that are critical for an organization's growth and sustainability. Focusing on the financial impact, risk management, and market share growth is essential because these elements provide a comprehensive view of how effectively a business is operating within its market.

Financial impact directly relates to how decisions and strategies affect an organization's profitability and revenue generation. It helps in assessing whether investments in particular areas yield satisfactory returns. Risk management evaluates potential uncertainties that can affect the business's performance, allowing organizations to develop strategies to mitigate these risks. Moreover, understanding market share growth indicates how a company’s performance compares to competitors and reflects its overall position in the industry, highlighting its ability to attract and retain customers.

Collectively, these components offer a balanced framework for analyzing the business's health and competitive standing, which is why they are integral to business performance analytics. Other options focus on specific aspects, such as employee metrics or compliance, which, while important, do not encompass the broader financial and market-oriented view necessary for comprehensive performance analysis.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy