D552 EXAM | WGU | 2026 UPDATE | QUESTIONS AND
ANSWERS | VERIFIED | WITH COMPLETE SOLUTION!!
What is data analytics? Answer - Data analytics is the process of evaluating
data with the purpose of drawing conclusions to address business questions.
What is structured data? Answer - data that adheres to a predefined data
model in a tabular format.
What is unstructured data? Answer - data that does not adhere to a
predefined data format.
What is big data? Answer - data sets that are too large and complex for
businesses' existing systems to handle utilizing their traditional capabilities to
capture, store, manage, and analyze these datasets.
What are the four Vs of big data? Answer - Volume, Velocity, Variety, Veracity.
What is Volume in the context of big data? Answer - the large amount of data
that is generated and collected.
What is Velocity in the context of big data? Answer - the speed at which data is
generated, processed, and analyzed.
, What is Variety in the context of big data? Answer - the different types of data
(structured, unstructured, semi-structured) that are generated from various
sources.
What is Veracity in the context of big data? Answer - the quality and accuracy
of the data being collected and analyzed.
How does data analytics affect business? Answer - helps find hidden
opportunities, predict trends, and improve efficiency, making it highly valued
by CEOs.
How does data analytics affect auditing in accounting? Answer - collect and
analyze company data similar to a business analyst to help management. It
expands audit capabilities in services like testing for fraudulent transactions
and automating compliance-monitoring activities, enabling auditors to analyze
a complete dataset.
How does data analytics affect management accounting? Answer - are asked
questions by management, find data to address those questions, analyze the
data, and report the results to management to aid in their decision-making.
How does data analytics affect financial reporting and financial statement
analysis? Answer - Data analytics substantially improves the quality of
estimates and valuations, allows accountants to assess the probability of
goodwill write-down, warranty claims, etc., and can scan environments like
social media to identify potential risks and opportunities for the firm.
How does data analytics affect tax accounting? Answer - Data analytics helps
predict potential tax consequences of international transactions, R&D
investments, or proposed mergers. The key challenge is organizing tax data into
a data warehouse.
ANSWERS | VERIFIED | WITH COMPLETE SOLUTION!!
What is data analytics? Answer - Data analytics is the process of evaluating
data with the purpose of drawing conclusions to address business questions.
What is structured data? Answer - data that adheres to a predefined data
model in a tabular format.
What is unstructured data? Answer - data that does not adhere to a
predefined data format.
What is big data? Answer - data sets that are too large and complex for
businesses' existing systems to handle utilizing their traditional capabilities to
capture, store, manage, and analyze these datasets.
What are the four Vs of big data? Answer - Volume, Velocity, Variety, Veracity.
What is Volume in the context of big data? Answer - the large amount of data
that is generated and collected.
What is Velocity in the context of big data? Answer - the speed at which data is
generated, processed, and analyzed.
, What is Variety in the context of big data? Answer - the different types of data
(structured, unstructured, semi-structured) that are generated from various
sources.
What is Veracity in the context of big data? Answer - the quality and accuracy
of the data being collected and analyzed.
How does data analytics affect business? Answer - helps find hidden
opportunities, predict trends, and improve efficiency, making it highly valued
by CEOs.
How does data analytics affect auditing in accounting? Answer - collect and
analyze company data similar to a business analyst to help management. It
expands audit capabilities in services like testing for fraudulent transactions
and automating compliance-monitoring activities, enabling auditors to analyze
a complete dataset.
How does data analytics affect management accounting? Answer - are asked
questions by management, find data to address those questions, analyze the
data, and report the results to management to aid in their decision-making.
How does data analytics affect financial reporting and financial statement
analysis? Answer - Data analytics substantially improves the quality of
estimates and valuations, allows accountants to assess the probability of
goodwill write-down, warranty claims, etc., and can scan environments like
social media to identify potential risks and opportunities for the firm.
How does data analytics affect tax accounting? Answer - Data analytics helps
predict potential tax consequences of international transactions, R&D
investments, or proposed mergers. The key challenge is organizing tax data into
a data warehouse.
