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Question 91 - CBDA discussion

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Senior executives in a large organization receive numerous sales reports of every sale through a corporate dashboard on a weekly basis. The executives are considering budget increases for various functions but would like to know if they are obtaining good returns for current budget allocations. They ask the analytics team to research and answer: 'How effective is our marketing spend?' This question is:

A.
Already answered in the sales data
Answers
A.
Already answered in the sales data
B.
Difficult to analyze because its narrowly focused
Answers
B.
Difficult to analyze because its narrowly focused
C.
Sufficient to begin initial analysis
Answers
C.
Sufficient to begin initial analysis
D.
Too broadly scoped to be effectively answered
Answers
D.
Too broadly scoped to be effectively answered
Suggested answer: D

Explanation:

The question ''How effective is our marketing spend?'' is too broadly scoped to be effectively answered, because it is a vague and ambiguous question that does not specify the criteria, scope, or timeframe for measuring the effectiveness of the marketing spend. The question also does not define what constitutes marketing spend, or how it relates to the sales data or the budget allocations. The question needs to be refined and clarified to make it more focused, relevant, and feasible for the analytics team to answer. For example, the question could be rephrased as ''How does the marketing spend per channel affect the sales revenue and customer retention rate in the last quarter?''

Reference:

* Business Analysis Certification in Data Analytics, CBDA | IIBA, CBDA Competencies, Domain 1: Identify the Research Questions

* Understanding the Guide to Business Data Analytics, page 10-11

* CERTIFICATION IN BUSINESS DATA ANALYTICS HANDBOOK - IIBA, page 8, CBDA Exam Sample Questions and Self-Assessment, Question 16

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asked 18/09/2024
Danilo Romelli
49 questions
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