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Question 44 - CBDA discussion

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The results of the data analytics work led to some clear and strongly supported outcomes and the analytics team is very confident in their recommendations; particularly given that the payback on the required changes are a short 3 months. However, there is concern because the organization operates in a highly regulated environment and some new regulatory changes are being considered with announcements and implementation in the next 6 months. Under these conditions the team decides to:

A.
Recommend no action be taken at this time and revisit in 6 months
Answers
A.
Recommend no action be taken at this time and revisit in 6 months
B.
Reassess their results to ensure their validity and then decide what to do
Answers
B.
Reassess their results to ensure their validity and then decide what to do
C.
Identify and carefully document assumptions for their recommendation
Answers
C.
Identify and carefully document assumptions for their recommendation
D.
Postpone recommendations for 6 months until the announcements are made
Answers
D.
Postpone recommendations for 6 months until the announcements are made
Suggested answer: C

Explanation:

The best option for the team under these conditions is to identify and carefully document the assumptions for their recommendation, such as the expected impact of the regulatory changes, the risks and benefits of implementing the changes before or after the announcements, and the sensitivity of the results to different scenarios. This way, the team can communicate their findings and recommendations clearly and transparently, while also acknowledging the uncertainty and limitations of their analysis. This can help the decision makers to evaluate the trade-offs and make informed choices12.

Reference: 1: Guide to Business Data Analytics, IIBA, 2020, p. 242: Data-Driven Decision Making: A Primer for Beginners, Anand Rao, 2018, 1.

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asked 18/09/2024
Daniel Martos
44 questions
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