CBDA practice question 11 of 25

An online retailer has been successful utilizing analytics to guide decisions on product placement and marketing spend. Management has requested a…

An online retailer has been successful utilizing analytics to guide decisions on product placement and marketing spend. Management has requested a task force be assembled to make recommendations on how to further develop their analytics capabilities. To begin this work, the task force builds a model to develop a shared understanding about customer segments, customer relationships, key partnerships, and the company's value proposition. The team has leveraged the following model to facilitate this discussion?

Answer options

A: Value chain analysis

B: Balanced scorecard

C: Business model canvas Correct answer

D: CATWOE

Correct Answer:

C. Business model canvas

Explanation

The business model canvas is the model that the task force has leveraged to facilitate the discussion, because it is a technique that describes the logic of how an organization creates, delivers, and captures value. The business model canvas consists of nine building blocks that cover the key aspects of a business: customer segments, value proposition, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure. The business model canvas can help the task force develop a shared understanding of the current state of the online retailer, and identify the opportunities and challenges for developing their analytics capabilities.
Reference: • Business Analysis Certification in Data Analytics, CBDA | IIBA®, CBDA Competencies, Domain 6: Guide Organization-level Strategy for Business Analytics • Understanding the Guide to Business Data Analytics, page 9 • 10.8 Business Model Canvas | IIBA®

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