Final answer:
The implementation of Next-Best-Action primarily requires defining business issue and group hierarchy. In decision-making, this aids in aligning actions with organizational goals and structures. Cost/benefit analysis is also key to evaluating decisions based on marginal costs and benefits.
Step-by-step explanation:
The implementation of Next-Best-Action must involve defining business issue and group hierarchy. This is crucial because it allows businesses to align their decision-making processes with their specific goals and the structure of the organization. Taking a structured approach to decision-making, where cost/benefit analysis plays a significant role, enables businesses to weigh the marginal costs against the marginal benefits, thereby making informed decisions that align with corporate objectives. Additionally, it is imperative to understand how various factors like third-party predictive models, product catalog creation, and establishing a prioritization formula based on marketing weight could influence the Next-Best-Action strategy.
In the broader context of decision-making, states and organizations often evaluate different courses of action by weighing risks and rewards, just as in cost/benefit analysis where costs and benefits are contrasted to decide on the best course of action. Hence, even though the Next-Best-Action strategy might not explicitly require all the options provided in the multiple-choice question, understanding the entire ecosystem of decision-making, including incorporating external models and managing internal hierarchies, is vital.