Before configuring Azure Alerts in ServiceNow, you must create a Monitor Alert in Azure. The Monitor Alert is necessary as it defines the alert rules and criteria based on which notifications and actions are triggered. Without a Monitor Alert, you cannot have the alerts set up to monitor and report on specific conditions in your Azure environment.

The correct application to guide your organization through the process of setting up Cloud Provisioning and Governance in the Cloud Admin Portal is 'Guided Setup'. This tool is specifically designed to provide step-by-step instructions and resources to ensure the proper configuration and setup of cloud services, making it the best choice for this task.

Organizations depend on 'Billing Data' to provide visibility into billing by tracking spending, usage, and costs. 'Tags' are used to categorize and manage resources, which aids in resource management and cost allocation. Security Groups and Identity and Authentication Management, while important, do not directly relate to visibility in resource management and billing.

To analyze cloud consumption based on a new poet identification code, the best features to use in Cloud Provisioning and Governance would involve tagging and associating resources to specific projects. Adding a new Project Tag to the Tag Definitions helps in categorizing and tracking usage based on different identifiers. Creating a Resource Pool associated with the projects table further organizes resources and helps in analyzing consumption related to specific projects. These actions provide an efficient way to implement and monitor the new poet identification code.

The Approval Policy feature in Cloud Provisioning and Governance is designed to allow managers to control and approve the provisioning of cloud resources. This ensures oversight and proper governance of resource allocation, making Approval Policy the correct choice for granting the Marketing team manager control over cloud resources.