An indicator tells you that 62% of a new inventory system's development is completed. This is most likely an example of an indicator that is:

Disable ads (and more) with a membership for a one time $4.99 payment

Prepare for the UCF GEB4522 Data Driven Decision Making Final Exam. Use flashcards and multiple choice questions to study. Familiarize yourself with key concepts and methodologies to excel on the test!

An indicator stating that 62% of a new inventory system's development is completed is a clear example of a progress-related indicator. This type of indicator provides insight into the extent of progress made towards a specific goal or completion of a project. By quantifying the stages of development, it allows stakeholders to evaluate how far along the project is and whether it is on track according to the planned timeline.

This information is crucial for decision-making, as it helps in assessing resource allocation, identifying potential delays, and facilitating necessary adjustments in project management. In contrast, the other types of indicators mentioned do not relate to measuring the ongoing status of completion. For instance, a raw number would refer to a basic count or measurement without providing contextual progress. Indirectional indicators typically signal a change in direction rather than completion status, and nominal indicators categorize data without implying a sequence or magnitude. Thus, recognizing the nature of the indicator as related to progress is essential for effective data-driven decision-making in project management.