During its digital transformation, a bank aims to replace intuition-based lending decisions with insights drawn from historical and real-time transaction data. According to Google Cloud's data value principles, which statement best explains the intrinsic role that data plays in this initiative?
Data's primary benefit is reducing hardware expenses once systems are moved off-premises.
Collecting more data automatically removes the need to comply with industry regulations.
The main role of data in digital transformation is to replace skilled analysts with automated tools.
Data supplies the evidence needed for organization-wide, informed decision-making that drives better business outcomes.
Digital transformation succeeds when organizations treat data as a strategic asset that informs every decision. By analyzing historical trends and real-time transactions, the bank can base credit and risk assessments on evidence rather than intuition, leading to faster, more consistent, and better-quality business outcomes. The other choices describe potential by-products of moving to the cloud-lower infrastructure costs, automation, or operational efficiency-but they do not capture why data itself is indispensable to transforming the way the business operates and competes.
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What are Google Cloud's data value principles?
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How can real-time transaction data improve lending decisions?
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Why is treating data as a strategic asset important in digital transformation?
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What are Google Cloud's data value principles?
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How can real-time data improve lending decisions in banking?
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What is the role of historical data in digital transformation?
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