Test on Data Strategy for Digital Transformation

Question 1: Data leaders should always apply a single, uniform data strategy across all business units within a large organization.

A. Ano

B. Ne

Explanation: The study materials state that 'ONE SIZE MAY NOT FIT ALL' for large or decentralized organizations. Data leaders may need to adapt a data strategy and advance units at their needed pace via different methods due to varying maturity and distinct business needs across business units.

Question 2: A data strategy generally addresses five specific questions that guide an organization's approach to data.

A. Ano

B. Ne

Explanation: A data strategy generally answers five questions: what the organization’s vision for data is, how it will move forward on its data journey, how it will drive data adoption and use, when it will execute proposed activities, and what its economic logic is regarding data.

Question 3: According to the MIT CISR Data Board, which of the following activities are explicitly described as ways an organization will monetize its data through its economic logic?

A. Improving existing products and services with data

B. Wrapping data with new services or features

C. Selling data to external entities

D. Reducing operational costs through data analytics

Explanation: The study materials state that a data strategy explicitly describes how the company will monetize its data using some combination of improving, wrapping, and selling activities. While reducing operational costs through data analytics can lead to financial gain, it is not explicitly listed as one of the three direct monetization activities.

Question 4: According to the MIT CISR Data Board, which of the following are explicitly mentioned as change management components a data strategy should include to inspire change?

A. Education, incentives, measurement, and communication plans

B. Vision, execution, monetization, and roadmap

C. Breaking down data silos and defining data as an asset

D. Executive sponsorship and early adopter identification

Explanation: A data strategy describes how an organization needs to change to maximize value from desired data activities. It should include change management components such as education, incentives, measurement, and communication plans to inspire change at the individual, group, and organizational levels, as stated in the study materials.

Question 5: The most mature board organizations were developing data strategies to identify how data might enable new business models and drive revenue streams from information-based solutions.

A. Ano

B. Ne

Explanation: The study materials state that 'The seven most mature board organizations were developing data strategies to identify how data might enable new business models. These organizations were entering ecosystems, and driving revenue streams from information-based solutions.'