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Question 36 - CBDA discussion

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Interested in experimenting with analytics, a manufacturing company hires an analyst to see how the capability can be developed within its organization. The analyst is getting started and recognizes the need to show value from the onset of their work to gain upper management's trust and future funding. What action will accomplish these objectives?

A.
Solve the biggest problem the organization has first to quickly grab the support and attention of senior management
Answers
A.
Solve the biggest problem the organization has first to quickly grab the support and attention of senior management
B.
Develop a question that can be answered quickly regardless of alignment to strategy, just to get started
Answers
B.
Develop a question that can be answered quickly regardless of alignment to strategy, just to get started
C.
Develop a meaningful question that can be answered with data the company already has in its possession
Answers
C.
Develop a meaningful question that can be answered with data the company already has in its possession
D.
Perform a market analysis to understand how competitors are using analytics and then launch a similar initiative
Answers
D.
Perform a market analysis to understand how competitors are using analytics and then launch a similar initiative
Suggested answer: C

Explanation:

The best action for the analyst to show value from the onset of their work is to develop a meaningful question that can be answered with data the company already has in its possession. This way, the analyst can demonstrate the potential of analytics to solve relevant business problems, without spending too much time or resources on data collection or market research. The question should also be aligned with the organization's strategy and goals, and provide actionable insights for decision making12.

Reference: 1: Guide to Business Data Analytics, IIBA, 2020, p. 202: Data Science for Business, Foster Provost and Tom Fawcett, 2013, p. 14.

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asked 18/09/2024
Latonya Ganison
27 questions
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