Back to basics: data analytics, part 1

Why are many organisations turning to analytics?

Because it is the now the dominant form of information

Because customers are using digital interfaces more

Because business is becoming more complex

Because they want insights from the data they collect

Which of the following is not a common application of analytics?

Credit risk analysis

Fraud detection

Customer data sharing

Marketing optimisation

Which of the following is not a type of analytics operating model?

Lateral

Hybrid

Decentralised

Centralised

What is the difference between a centralised and decentralised operating model?

One is run internally by the business and one is run externally by a contractor

Centralised models are used by bigger businesses while decentralised models are typically used by smaller operations

Only centralised models are run centrally by the operations team

Centralised models use a core team to service the business while decentralised models utilitse individuals in different business units

Which of the following best describes a downside of the centralised model?

It is hard to hire enough experts to have an entire team dedicated to analytics

It can create distance between the analytics team and the rest of the business

It can drive a lack of trust between the analytics team and the business units

They are very expensive to run

What is missing in a decentralised model?

A mechanism to facilitate collaboration / coordination on an enterprise-wide level

A full analytics team

A greater understanding of the company's strategy

Applications that cross functional boundaries

Which of these is not a key benefit of the hub and spoke model?

Promotes knowledge sharing

Reduces effort duplication

Enables greater efficiencies

It is cheaper to run

Which type of organisation typically uses a hub and spoke model?

Small organisations

Analytically mature organisations

Technology companies

Very large organisations

What does having a decentralised model make difficult?

Data security

Setting enterprise-wide analytical priorities

Collaborating

Knowledge-sharing

What is the next step after deciding what model you wish to use?

Recruiting talented analytics experts

Contacting an analytics expert to help you build your team

Testing your model for a few months

Deciding on the resources and skills needed to embed analytics in the organisation

Back to basics: data analytics, part 1

Why are many organisations turning to analytics?

Which of the following is not a common application of analytics?

Which of the following is not a type of analytics operating model?

What is the difference between a centralised and decentralised operating model?

Which of the following best describes a downside of the centralised model?

What is missing in a decentralised model?

Which of these is not a key benefit of the hub and spoke model?

Which type of organisation typically uses a hub and spoke model?

What does having a decentralised model make difficult?

What is the next step after deciding what model you wish to use?

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