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."
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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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.”
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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