D552 Data Analytics for Accountants I
A pharmaceutical company is analyzing a large dataset to gain insights into customer
behavior. However, the dataset only contains information on products ordered and total
sales and not on the frequency of the purchases. What is true about the dataset in this
case? - answer It lacks velocity.
What is an example of unstructured data? - answer Video recordings.
Which scenario describes the volume aspect of big data? - answer A freight company
deals with over one million domestic and international orders daily.
What is an example of structured data? - answer Product codes
How has data analytics affected how accountants approach their work? - answer By
improving the quality of estimates and valuations in financial accounting
How can auditors use data analytics to become more effective and efficient? -
answerBy placing emphasis on the logic behind data and not on the gathering of the
actual data
What is a limitation associated with data analytics? - answerData analytics cannot
generate accurate conclusions if the underlying data is of low quality.
How does data analytics help management accountants? - answerBy helping them
forecast future sales on which budgets can be based
Which step involves measuring actions and results continuously during the IMPACT
cycle? - answerThe Track outcomes step
Which approach to data analytics attempts to characterize the typical behavior of a
group to identify abnormal behavior when conducting analysis during an IMPACT cycle?
- answerProfiling
How can the results of an IMPACT analysis be communicated effectively? - answerBy
determining whether the results are being reported for declarative or exploratory
purposes
How does link prediction help execute a test plan in the context of the IMPACT cycle
model? - answerBy anticipating connections between two seemingly unrelated data
items
A pharmaceutical company is analyzing a large dataset to gain insights into customer
behavior. However, the dataset only contains information on products ordered and total
sales and not on the frequency of the purchases. What is true about the dataset in this
case? - answer It lacks velocity.
What is an example of unstructured data? - answer Video recordings.
Which scenario describes the volume aspect of big data? - answer A freight company
deals with over one million domestic and international orders daily.
What is an example of structured data? - answer Product codes
How has data analytics affected how accountants approach their work? - answer By
improving the quality of estimates and valuations in financial accounting
How can auditors use data analytics to become more effective and efficient? -
answerBy placing emphasis on the logic behind data and not on the gathering of the
actual data
What is a limitation associated with data analytics? - answerData analytics cannot
generate accurate conclusions if the underlying data is of low quality.
How does data analytics help management accountants? - answerBy helping them
forecast future sales on which budgets can be based
Which step involves measuring actions and results continuously during the IMPACT
cycle? - answerThe Track outcomes step
Which approach to data analytics attempts to characterize the typical behavior of a
group to identify abnormal behavior when conducting analysis during an IMPACT cycle?
- answerProfiling
How can the results of an IMPACT analysis be communicated effectively? - answerBy
determining whether the results are being reported for declarative or exploratory
purposes
How does link prediction help execute a test plan in the context of the IMPACT cycle
model? - answerBy anticipating connections between two seemingly unrelated data
items
