Chapter 7 - Data and the finance function Flashcards
1
Q
What are the benefits of enhanced info?
A
- Greater customer insights
- Competitive advantage
- New business models
- Customised products
- Quicker decision making
2
Q
What are the main sources of big data?
A
- IoT
- Internet
- Mobile tech
3
Q
Why is big data useful for decision makers?
A
- Enhanced data transparency
- Enhanced performance
- Market segmentation and customisation
- Improved decision making
- New products and services
- Operational gains
4
Q
How can tech and data help marketing?
A
- Pricing
- Products
- Segmentation
- Promotions
- CRM
- Targeting
5
Q
What are the benefits of using data to enhance operations?
A
- Cost saving
- Improved service
- Supply chain
- Preventative maintenance
- Forecasting
6
Q
What are the features of a digital asset management system (DAM)?
A
- Database
- Single central location
- Facilitated by cloud based software
- Access levels built in
- Assets categorised by format
7
Q
What are the benefits of DAM?
A
- Strengthen relationships
- Improve service to customers
- Cost and space saving
- Provides valuable data on usage
- Version control
8
Q
What are the features of modern organisational structures?
A
- CDO
- Data strategy
- Culture
- Training
9
Q
What are the 5 key building blocks of data strategy according to SAS?
A
- Identify
- Store
- Provision
- Process
- Govern
