Chapter 10: Data Analytics in Accounting:
Concepts and the AMPS Model
Big Data - ANS Datasets that are too large and complex for businesses' existing systems to
handle utilizing their traditional capabilities to capture, store, manage, and analyze these
datasets
Structured Data - ANS Highly organized data that fits nicely in a table or in a database. A
balance sheet or income statement is a good example.
Unstructured Data - ANS Data without internal organization (or structure). Blogs and social
media and pictures posted in Instagram would both be examples of unstructured data.
Semi-Structured Data - ANS Data that has elements of both structured (highly organized) and
unstructured (not highly organized) data
Data Analytics - ANS The science of examining raw data (now often Big Data), removing
excess noise from the dataset, and organizing the data with the purpose of drawing conclusions
for decision making
Extract, Transform, and Load (ETL) - ANS The process of cleaning and scrubbing the data
before data analysis can take place
Data Integrity - ANS Maintaining and assuring the accuracy and consistency of data during
transmission and at storage
Numerical Data - ANS Data associated with a number and that has logical order
Categorical Data - ANS Data that has no logical order and can't be translated into a numerical
value
Audit Data Standards (ADS) - ANS A standard format for data files and fields typically needed
to support an external audit in a given financial business process area that was developed by
the AICPA
Descriptive Analytics - ANS Analysis performed that characterizes, summarizes, and organizes
features and properties of the data to facilitate understanding
Concepts and the AMPS Model
Big Data - ANS Datasets that are too large and complex for businesses' existing systems to
handle utilizing their traditional capabilities to capture, store, manage, and analyze these
datasets
Structured Data - ANS Highly organized data that fits nicely in a table or in a database. A
balance sheet or income statement is a good example.
Unstructured Data - ANS Data without internal organization (or structure). Blogs and social
media and pictures posted in Instagram would both be examples of unstructured data.
Semi-Structured Data - ANS Data that has elements of both structured (highly organized) and
unstructured (not highly organized) data
Data Analytics - ANS The science of examining raw data (now often Big Data), removing
excess noise from the dataset, and organizing the data with the purpose of drawing conclusions
for decision making
Extract, Transform, and Load (ETL) - ANS The process of cleaning and scrubbing the data
before data analysis can take place
Data Integrity - ANS Maintaining and assuring the accuracy and consistency of data during
transmission and at storage
Numerical Data - ANS Data associated with a number and that has logical order
Categorical Data - ANS Data that has no logical order and can't be translated into a numerical
value
Audit Data Standards (ADS) - ANS A standard format for data files and fields typically needed
to support an external audit in a given financial business process area that was developed by
the AICPA
Descriptive Analytics - ANS Analysis performed that characterizes, summarizes, and organizes
features and properties of the data to facilitate understanding
