Ch1 Data Analytics Questions with Verified
Correct Answers
data analytics
The process of evaluating data with the purpose of drawing conclusions to address business
questions. Indeed, effective Data Analytics provides a way to search through large structured
and unstructured data to identify unknown patterns or relationships.
structured data
data that adheres to a predefined data model in a tabular format
unstructured data
data that does not adhere to a predefined data format
big data
datasets too large and complex for businesses existing systems to handle utilizing their
traditional capabilities to capture, store, manage, & analyze these datasets
What process involves the technologies, systems, practices, methodologies, databases,
statistics, and applications used to analyze diverse business data to give organizations
the information they need to make decisions?
Data Analytics
Data analytics are used to discover all of the following except:
anomalies which are anticipated; DOES: forecast of future possibilities
buying patterns of customers
anomalies not previously anticipated
, The Forbes Insight/KPMG report, "Audit 2020: A Focus on Change.", found that the
vast majority of survey respondents believe that technology will enhance the quality,
Blank______, and accuracy of the audit.
The best answer is that technology is expected to enhance the quality, transparency and
accuracy of the audit.
In a significant paradigm shift, data analytics will allow auditors to:
stay engaged with clients beyond the audit
The process of evaluating data with the purpose of drawing conclusions to address
business questions is defined as:
data analytics
data processing
the collection of data
Traditional audit approaches tested a Blank______ of the financial data transactions; in
contrast, data analytics enables auditors to analyze Blank______ dataset.
sampling, the complete
The 4 V's describing Big Data include: Volume, Variety, Veracity and Blank______.
Velocity, or the speed of the data processing.
The description of the management accountant's task and that of the data analyst
appear to be quite similar.
The description of the management accountant's task and that of the data analyst are quite
similar.
Correct Answers
data analytics
The process of evaluating data with the purpose of drawing conclusions to address business
questions. Indeed, effective Data Analytics provides a way to search through large structured
and unstructured data to identify unknown patterns or relationships.
structured data
data that adheres to a predefined data model in a tabular format
unstructured data
data that does not adhere to a predefined data format
big data
datasets too large and complex for businesses existing systems to handle utilizing their
traditional capabilities to capture, store, manage, & analyze these datasets
What process involves the technologies, systems, practices, methodologies, databases,
statistics, and applications used to analyze diverse business data to give organizations
the information they need to make decisions?
Data Analytics
Data analytics are used to discover all of the following except:
anomalies which are anticipated; DOES: forecast of future possibilities
buying patterns of customers
anomalies not previously anticipated
, The Forbes Insight/KPMG report, "Audit 2020: A Focus on Change.", found that the
vast majority of survey respondents believe that technology will enhance the quality,
Blank______, and accuracy of the audit.
The best answer is that technology is expected to enhance the quality, transparency and
accuracy of the audit.
In a significant paradigm shift, data analytics will allow auditors to:
stay engaged with clients beyond the audit
The process of evaluating data with the purpose of drawing conclusions to address
business questions is defined as:
data analytics
data processing
the collection of data
Traditional audit approaches tested a Blank______ of the financial data transactions; in
contrast, data analytics enables auditors to analyze Blank______ dataset.
sampling, the complete
The 4 V's describing Big Data include: Volume, Variety, Veracity and Blank______.
Velocity, or the speed of the data processing.
The description of the management accountant's task and that of the data analyst
appear to be quite similar.
The description of the management accountant's task and that of the data analyst are quite
similar.
