ALX 2024: EGAD Framework - ANALYZE Phase

Flashcards covering the ANALYZE phase of the EGAD framework, including the Equation of Value, programming tools, and solution governance.

What is the primary purpose of the ANALYZE phase within the EGAD framework?

ANALYZE is about understanding the value of solving the problem and determining how to use mathematics, statistics, and programming to solve these problems while ensuring alignment with strategic goals.

What is the specific formula for the 'equation of value' used in the ANALYZE, DRAFT phase?

$$\text{Value unlocked} = \text{Key value drivers} \times \text{Value unlocked per key value driver}$$

What are three common examples of key value drivers listed in the notes?

Revenue growth, Operational efficiency, and Talent and human capital.

In the example of an insurance assessor system, how is the Equation of Value (EoV) represented?

$$\text{EoV} = (\# \text{ claims} \times \text{cost per claim}) + (\text{assessment cost per claim} \times \# \text{ claims})$$

What tool is defined as a formula language for performing complex calculations on data in a data model?

DAX (Data Analysis Expressions)

According to the DO phase, what is the role of SQL (Structured Query Language)?

A domain-specific programming language that enables users to manage, manipulate, and query relational databases.

What toolset is used to visually and textually represent the flow of control of logic, algorithms, and conditional statements?

Flowcharts and pseudocode

How is 'Solution governance' defined in the DELIVER and DECOMPRESS phases?

The processes, practices, and frameworks an organization implements to ensure solution development and implementation align with strategic goals.

What are the five key aspects of solution governance included in the framework?

Alignment with business or project goals, Risk management, Quality assurance (QA), Compliance, and Resource allocation.

What are 'Performance metrics' in the context of the ANALYZE framework?

Measurable indicators used to assess the effectiveness, efficiency, and quality of a solution throughout its development, implementation, and ongoing operation.

What are some examples of performance metrics used to measure the success of a solution?

Response times, system uptime, user adoption rates, error rates, and cost savings achieved.

Which high-level programming language is cited for its ability to wrangle data, build machine learning models, and scrape the web?

Python