Module 4

Question 1

Delineates how an organization currently operates and envisions its future course.

Answer 1

Strategy

Question 2

Addresses one year at a time.

Answer 2

Strategy

Question 3

Aligns the organization’s business domain, resources, and activities with the market in which it operates.

Answer 3

Strategy

Question 4

Strives to address immediate challenges while concurrently cultivating sustainable competitive advantages for the long term.

Answer 4

Strategy

Question 5

True or False.
It is crucial for strategies to be aligned with the organization’s mission and vision.

Answer 5

True

Question 6

True or False.
While alignment with the organization’s mission and vision is important, it’s acceptable for strategies to deviate from these principles for short-term gains.

Answer 6

False

Question 7

True or False.
Strategies should ensure a purpose-driven approach towards overarching goals.

Answer 7

True

Question 8

True or False.
Strategies can disregard the need for a purpose-driven approach and still effectively achieve overarching goals.

Answer 8

False

Question 9

What are the following key roles in analytics?

Answer 9

• Data Steward
• Data Engineer
• Data Scientist
• Functional Analyst
• Analytics Manager

Question 10

What are the common roles in analytics?

Answer 10

• Leadership Team
• Department Head
• IT Engineer

Question 11

Summarize how analytics work in an organization.

Answer 11

1. The retail sore set a goal to increase their market share from 10% to 15%.
2. The department head then sets a meeting on how to achieve the goal.
3. The functional analyst then suggest to check their sales data to focus on a targeted audience.
4. The data steward provides only the necessary data.
5. The data scientist then made a model to test the functional analyst’s idea.
6. The functional analyst presents their new profound idea backed-up with data to their department head.
7. The functional analyst and the department head then present this to their CEO.
8. The CEO approves and gives the green light to implement the idea.

Question 12

What step is:
The retail sore set a goal to increase their market share from 10% to 15%.

Answer 12

First

Question 13

What step is:
The department head then sets a meeting on how to achieve the goal.

Answer 13

Second

Question 14

What step is:
The functional analyst then suggest to check their sales data to focus on a targeted audience.

Answer 14

Third

Question 15

What step is:
The data steward provides only the necessary data.

Answer 15

Fourth

Question 16

What step is:
The data scientist then made a model to test the functional analyst’s idea.

Answer 16

Fifth

Question 17

What step is:
The functional analyst presents their new profound idea backed-up with data to their department head.

Answer 17

Sixth

Question 18

What step is:
The functional analyst and the department head then present this to their CEO.

Answer 18

Seventh

Question 19

What step is:
The CEO approves and gives the green light to implement the idea.

Answer 19

Eighth