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Question 20 - CBDA discussion

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Interested in building out the analytics capability based on the positive results obtained by past analytics efforts, the Chief Marketing Officer (CMO) pitches the idea of using analytics to guide future decision making across the enterprise. Before allocating budget to build up an enterprise analytics practice, the decision makers should:

A.
Request that a small team be assembled to brainstorm a list of capabilities to develop with any approved monies
Answers
A.
Request that a small team be assembled to brainstorm a list of capabilities to develop with any approved monies
B.
Identify the sponsor and a project manager who can collaborate on the development of the project charter
Answers
B.
Identify the sponsor and a project manager who can collaborate on the development of the project charter
C.
Oversee the completion of up-front analysis to determine how value can be achieved through an enterprise-wide analytics practice
Answers
C.
Oversee the completion of up-front analysis to determine how value can be achieved through an enterprise-wide analytics practice
D.
Determine if the company has the sufficient resources to build up the analytics practice
Answers
D.
Determine if the company has the sufficient resources to build up the analytics practice
Suggested answer: C

Explanation:

Before investing in an enterprise analytics practice, the decision makers should have a clear understanding of the expected value and benefits of such a practice. This requires conducting an up-front analysis that identifies the business problems or opportunities that can be addressed by analytics, the data sources and technologies that are needed, the analytical models and methods that are appropriate, and the metrics and indicators that will measure the impact and outcomes of the analytics solutions12. This analysis will help to define the scope, objectives, and requirements of the enterprise analytics practice, as well as the resources, roles, and governance structures that are necessary to support it34. An up-front analysis will also help to prioritize the analytics initiatives based on their feasibility, alignment with the business strategy, and potential value creation

Topic 2, Exam Pool B

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asked 18/09/2024
Unai M
39 questions
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