Digital Transformation Strategies in Banking and Business
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Questions and Answers

What is the main focus of B&Y Melon's strategy as mentioned in the text?

  • Architecting the business for speed and integration
  • Developing a digital services platform
  • Defining distinct roles like Data Steward, Data Engineer, Data Scientist
  • Creating service leaders for digital services accountability (correct)

    • What is the foundational element for efficiency and reliability in the digital economy?

  • Digital services platform
  • Analytics Strategy
  • Operational Backbone (correct)
  • Second Platform integrating cloud, mobility, data, and AI

    • Which role is responsible for managing data quality, security, and compliance?

  • Data Steward (correct)
  • Data Engineer
  • Functional Analyst
  • Data Scientist

    • What does the Analytics Strategy define according to the text?

    <p>How an organization operates and aligns resources with market</p> Signup and view all the answers

    Which role focuses on designing, constructing, and maintaining data pipelines?

    <p>Data Engineer</p> Signup and view all the answers

    What is the key expertise required for the Functional Analyst Role?

    <p>Domain knowledge, data governance, and operational analytics</p> Signup and view all the answers

    What was the name of the model introduced by Robert Morison in 2010 to formally describe the stages of analytics maturity?

    <p>The DELTA model</p> Signup and view all the answers

    Which book by Davenport and Harris introduced the '5 Stages of Analytics Maturity'?

    <p>Competing on Analytics: The New Science of Winning</p> Signup and view all the answers

    What are the five components of the DELTA+ Model described in the text?

    <p>Data, Enterprise, Leadership, Targets, Analytics Professionals</p> Signup and view all the answers

    Which component of the DELTA+ Model represents the data aspect of analytics maturity?

    <p>Data</p> Signup and view all the answers

    Which book by Davenport and Morison described the DELTA model with its five components?

    <p>Analytics at Work: Smarter Decisions, Better Results</p> Signup and view all the answers

    What role is responsible for data management, privacy, security, and ethical considerations within an organization?

    <p>Data Steward</p> Signup and view all the answers

    Which skill involves utilizing strategies and techniques to collect and analyze data for new information?

    <p>Data Scientist Skills</p> Signup and view all the answers

    What activity involves conducting comprehensive analysis on tasks and datasets?

    <p>Business Analysis</p> Signup and view all the answers

    What is the purpose of Data Visualization?

    <p>Re-creating reports or narratives based on specified requirements</p> Signup and view all the answers

    Which skill involves utilizing scientific methods to discover new insights?

    <p>Research Methods Skills</p> Signup and view all the answers

    What are Data Security Policies focused on upholding?

    <p>Data security, privacy, intellectual property, and ethical standards</p> Signup and view all the answers

    Which of the following is responsible for managing and maintaining IT systems and infrastructure?

    <p>IT Engineer</p> Signup and view all the answers

    What is the goal of increasing market share?

    <p>To expand the percentage of total sales a company holds in a specific market</p> Signup and view all the answers

    Which of the following is a way to leverage social media?

    <p>Utilize online platforms to engage with customers, promote products, and build brand presence</p> Signup and view all the answers

    What type of customers are the 'Millennial groups' identified as the most likely to be?

    <p>Loyal Customers</p> Signup and view all the answers

    What is the purpose of data visualization?

    <p>To create visual representations of data for easy understanding</p> Signup and view all the answers

    What is a 'Hypothesis'?

    <p>An educated guess or assumption to be tested</p> Signup and view all the answers

    What is the primary focus of Data Architecture?

    <p>Designing data systems</p> Signup and view all the answers

    What is the primary responsibility of a Data Steward?

    <p>Developing and enforcing data security and usage policies</p> Signup and view all the answers

    What is the primary purpose of Descriptive Analytics?

    <p>Summarizing historical data</p> Signup and view all the answers

    What is the goal of Predictive Analytics?

    <p>Identifying future events based on historical data</p> Signup and view all the answers

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