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The CEO turns to you as her trusted adviser and asks you to investigate what data is available and how it can be utilized to enhance decision-making. The organization has a large volume and variety of data in a variety of disparate systems. Question What types or categories of data might the organization already capture? Type your response in the space provided and click or tap "Confirm."

The CEO turns to you as her trusted adviser and asks you to investigate what data is available and how it can be utilized to enhance decision-making. The organization has a large volume and variety of data in a variety of disparate systems. Question What types or categories of data might the organization already capture? Type your response in the space provided and click or tap "Confirm."

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Exercise - Types and categories of data The CEO turns to you as her trusted adviser and asks you to investigate what data is available and how it can be utilized to enhance decision-making. The organization has a large volume and variety of data in a variety of disparate systems. Question What types or categories of data might the organization already capture? Type your response in the space provided and click or tap “Confirm.”
Transcribed Image Text:Exercise - Types and categories of data The CEO turns to you as her trusted adviser and asks you to investigate what data is available and how it can be utilized to enhance decision-making. The organization has a large volume and variety of data in a variety of disparate systems. Question What types or categories of data might the organization already capture? Type your response in the space provided and click or tap “Confirm.”
Evaluating organizational capabilities and gaps At the next board meeting, you provide an update on the data analytics project, outline the revised objective, and receive board approval for the questions that need to be answered. You also advise the board that the next step in the process is to investigate what data the organization already uses to make strategic decisions and identify data or information that will need to be gathered. At this point, the CEO becomes very animated. She informs the rest of the board that she went away, researched, and thought some more about how data analytics can benefit the organization and enhance customer loyalty. Based on her research, she believes data analytics could really give the organization a complete overhaul and point toward a new strategic direction. However, she has reservations about what data is available, how it's categorized, what data to collate, and whether the company has the capability to really invest in data analytics.
Transcribed Image Text:Evaluating organizational capabilities and gaps At the next board meeting, you provide an update on the data analytics project, outline the revised objective, and receive board approval for the questions that need to be answered. You also advise the board that the next step in the process is to investigate what data the organization already uses to make strategic decisions and identify data or information that will need to be gathered. At this point, the CEO becomes very animated. She informs the rest of the board that she went away, researched, and thought some more about how data analytics can benefit the organization and enhance customer loyalty. Based on her research, she believes data analytics could really give the organization a complete overhaul and point toward a new strategic direction. However, she has reservations about what data is available, how it's categorized, what data to collate, and whether the company has the capability to really invest in data analytics.
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