WGU D552 DATA ANALYTICS
FOR ACCOUNTANTS I EXAM
QUESTIONS AND ANSWERS 2026
- 2027
the process of evaluating data with the purpose of drawing
conclusiions to address business questions - ANSWERS-Data
Analytics
What does data analytics provide? - ANSWERS-a way to search
through large structured and unstructured data to identify unknown
patterns or relationships
data that do not adhere to a predefined data model in a tabular format
- ANSWERS-Untructured Data
data that are organized and reside in a fixed field with a record or a
file, readily searchable by search algorithms - ANSWERS-Structured
Data
datasets that are too large and complex for businessses existing
systems to handle utilizing their traditional capabilities to capture,
store, manage, and analyze these datasets - ANSWERS-Big Data
,What are the 4 V's of big data? - ANSWERS-Volume, Velocity,
Veracity, and Variety
the sheer size of the data - ANSWERS-Volume
the speed of data processing - ANSWERS-Velocity
the number of the types of different data q - ANSWERS-Variety
the underlying quality of the data - ANSWERS-Veracity
Companies use data analysis to: - ANSWERS-discover the various
buying patterns of their customers, investigate anomalies that were
not anticipated, forecast future possibilities, etc.
The study from McKinsey Gobal institute estimated that data
analytics and technology could generate how much in value per year?
- ANSWERS-$2 million
According to Forbes Insights/KPMG's report "Audit 2020: A focus on
change", the vast majority of respondents believe that: - ANSWERS-
1. Audits must better embrace technology
2. Technology will enhance the aulity, transparency, and accuracy of
the audit
, Responsibilities of Management Accountants: - ANSWERS-1) asked
questions by management
2) find data to address those questions
3) analyze the data
4) report the results to management to aid in their decision making
What do 29% of tax departments find the biggest challenge related to
executing an analytics strategy? - ANSWERS-integrating the strategy
with the IT department and gaining access to available technology
tools
Who created the IMPACT cycle? - ANSWERS-Isson and Harriot
Steps to the IMPACT cycle? - ANSWERS-1) I - Identify the
Questions
2) M - master the data
3) P - perform test plans
4) A - address and refine results
5) C - communicate insights
6) T - track outcomes
What attributes should be considered when identifying the question? -
ANSWERS-Audience, Scope, and Use
To master the data, you should know: - ANSWERS-everythign about
the data, including how to access, availability, reliability, frequency of
FOR ACCOUNTANTS I EXAM
QUESTIONS AND ANSWERS 2026
- 2027
the process of evaluating data with the purpose of drawing
conclusiions to address business questions - ANSWERS-Data
Analytics
What does data analytics provide? - ANSWERS-a way to search
through large structured and unstructured data to identify unknown
patterns or relationships
data that do not adhere to a predefined data model in a tabular format
- ANSWERS-Untructured Data
data that are organized and reside in a fixed field with a record or a
file, readily searchable by search algorithms - ANSWERS-Structured
Data
datasets that are too large and complex for businessses existing
systems to handle utilizing their traditional capabilities to capture,
store, manage, and analyze these datasets - ANSWERS-Big Data
,What are the 4 V's of big data? - ANSWERS-Volume, Velocity,
Veracity, and Variety
the sheer size of the data - ANSWERS-Volume
the speed of data processing - ANSWERS-Velocity
the number of the types of different data q - ANSWERS-Variety
the underlying quality of the data - ANSWERS-Veracity
Companies use data analysis to: - ANSWERS-discover the various
buying patterns of their customers, investigate anomalies that were
not anticipated, forecast future possibilities, etc.
The study from McKinsey Gobal institute estimated that data
analytics and technology could generate how much in value per year?
- ANSWERS-$2 million
According to Forbes Insights/KPMG's report "Audit 2020: A focus on
change", the vast majority of respondents believe that: - ANSWERS-
1. Audits must better embrace technology
2. Technology will enhance the aulity, transparency, and accuracy of
the audit
, Responsibilities of Management Accountants: - ANSWERS-1) asked
questions by management
2) find data to address those questions
3) analyze the data
4) report the results to management to aid in their decision making
What do 29% of tax departments find the biggest challenge related to
executing an analytics strategy? - ANSWERS-integrating the strategy
with the IT department and gaining access to available technology
tools
Who created the IMPACT cycle? - ANSWERS-Isson and Harriot
Steps to the IMPACT cycle? - ANSWERS-1) I - Identify the
Questions
2) M - master the data
3) P - perform test plans
4) A - address and refine results
5) C - communicate insights
6) T - track outcomes
What attributes should be considered when identifying the question? -
ANSWERS-Audience, Scope, and Use
To master the data, you should know: - ANSWERS-everythign about
the data, including how to access, availability, reliability, frequency of
