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Question 144 - CBDA discussion

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The analytics team discovers there is an abundance of data available to them from various sources. They are excited about the potential of turning this data into usable information for their organization. They decide to focus the analytics work on:

A.
Using the data that is easiest to collect in order to turn out reports quickly
Answers
A.
Using the data that is easiest to collect in order to turn out reports quickly
B.
Harnessing all the data and presenting various results to senior management
Answers
B.
Harnessing all the data and presenting various results to senior management
C.
Harnessing all the data as long as the analysis meets key cost criteria
Answers
C.
Harnessing all the data as long as the analysis meets key cost criteria
D.
Using the data to answer a limited number of key questions
Answers
D.
Using the data to answer a limited number of key questions
Suggested answer: D

Explanation:

According to the IIBA Guide to Business Data Analytics, analytics work should be driven by well-defined business problems or opportunities that are aligned with the organization's strategic objectives1. Having an abundance of data does not necessarily mean that all of it is relevant, reliable, or useful for the analytics purpose. Therefore, the analytics team should focus on using the data to answer a limited number of key questions that are derived from the business context and that can generate actionable insights and outcomes.This approach can help the analytics team prioritize the most important data sources, methods, and tools, as well as avoid wasting time and resources on analysis that is not impactful or meaningful for the organization.

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asked 18/09/2024
Julio Callegaro
38 questions
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