E3 - 3. Digital Strategy Flashcards
1
Q
What are the 3 main strategic impacts of cloud computing?
A
- Reduce the need to invest in significant infrastructure
- Changes the way that the business operates - flexible
- Changes how organisations collaborate
2
Q
What are the 4 Vs of Big Data?
A
Volume, variety, velocity, veracity
3
Q
What are the 4 main strategic impacts of big data?
A
- Drives better decision making
- Provides better customer insights
- Provides better competitor understanding
- Identify operational efficiencies
OVERALL - COMPETITIVE ADVANTAGE
4
Q
What are the 3 main strategic impacts of process automation?
A
- Changes customer experience
- Changes human resource requirments/ job activity
- Changes cost structure
5
Q
What are the 4 main benefits of AI?
A
- Process more data
- Identify more patterns
- Do not suffer from bias
6
Q
What are the 2 main limitations of AI?
A
- Can only work with input data given
- Cannot make human/emotional judgements
7
Q
What are the 2 main strategic impacts of AI?
A
- Better forecasting
- Aiding in decision making
8
Q
What is the main strategic benefit of data visulation?
A
Better decisions made as understanding of background and data is improved
9
Q
What are the 2 main strategic impacts of block chain?
A
- Facilitate online trading
- Adds assurance to systems and grows confidence of other ecosystem members
10
Q
What are the 3 governance considerations of digital strategy?
A
- Digital mindset is key
- Change management is likely
- Scope of activities is wide
11
Q
What are 4 of the main benefits of being a digital enterprise?
A
- Improved reliability
- Improved communication
- Shorter development cycles
- Lower costs
12
Q
What are the 5 learnings that can be gained from data mining?
A
- Associations
- Sequences
- Classification
- Clustering
- Forecasting
