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ACCA Strategic Professional · Strategic Business Leader · Big data and data analytics

Brightwater Bank has built a very large data lake of customer data. Executives report that it is fast, varied and reliable, yet after two years it has produced no improvement in profit, because no one has defined which business decisions the data should inform. Which statement best reflects the implication of the Vs of big data for this case?

The bank has failed to realise value. Its data is large, fast, varied and reliable, but without defined decisions and objectives it produces no profit improvement. Value arises only when analysis is linked to business purpose, so more volume, speed or accuracy would not solve the problem.

  1. AThe bank has failed on volume, since more data would solve the problem
  2. BThe bank has failed to realise value, because data only creates benefit when linked to specific decisions and objectivesCorrect
  3. CThe bank has a velocity problem, since data should be processed in real time
  4. DThe bank has a veracity problem, since the data must be inaccurate

Explanation

The scenario states velocity, variety and veracity are satisfactory, and volume is large. What is missing is value, the benefit obtained from analysis tied to decisions. Collecting more data or speeding it up does not address a lack of purpose, and the case rules out inaccuracy.

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