Which approach should an analyst utilize to integrate various data sources effectively within SAP Analytics Cloud?

Implementing data acquisition and predictive modeling is the suitable approach for effectively integrating various data sources within SAP Analytics Cloud. Data acquisition allows analysts to connect, import, and harmonize data from different sources, making it vital for establishing a unified data foundation. This ensures that analysts can access and analyze relevant datasets from various origins, such as databases, spreadsheets, or cloud services, all within a single platform.

Furthermore, predictive modeling enhances the analytical capabilities of SAP Analytics Cloud by enabling users to forecast outcomes based on historical data patterns. This allows for deeper insights and more informed decision-making based on the integrated data insights.

The other options, while valuable in their own right, do not specifically address the integration of various data sources as directly as data acquisition does. For instance, establishing cross-model security and event-based triggers focuses more on data governance and automation rather than integration. Defining hierarchies and creating calculated dimensions pertain primarily to data organization and manipulation once the data is already in the platform. Utilizing regression analysis and anomaly detection is more about analyzing data trends and identifying outliers, rather than the initial integration of multiple data sources. Thus, the correct answer highlights the foundational step of consolidating data to facilitate comprehensive analysis.