ACCT 309 Test 3
How does data analytics play a vital role in today's business world? Multiple Choice - By allowing data to be organized into predefined tables and fields. - By defining three main categories of classes that help organize a company's data structure models. - By examining data to generate models for predictions of patterns and trends. - By capturing the ever-increasing transaction activity of large companies.
By examining data to generate models for predictions of patterns and trends.
What type of analysis addresses questions of "Why did it happen"? Multiple Choice - Prescriptive analysis - Descriptive analysis - Diagnostic analysis - Predictive analysis
Diagnostic Analysis
Data analytics can provide deep insight into financial data, but is not particularly useful when evaluating non-financial data such as social media. True or False
False
What type of analysis would address the question of whether a customer will ultimately pay if credit is granted? Multiple Choice - Descriptive analysis - Diagnostic analysis - Prescriptive analysis - Predictive analysis
Predictive Analysis
If we wanted to know what grade we needed to get on the final in this class based on our expected performance before the final, we would call that _____________ analysis? Multiple Choice - Diagnostic - Predictive - Prescriptive - Descriptive
Prescriptive Analysis
Big Data is often described by the 4 Vs, or: Multiple Choice: - volume, velocity, veracity, and variety. - volume, volatility, veracity, and variability. - volume, velocity, veracity, and variability. - volume, volatility, veracity and variety
volume, velocity, veracity, and variety.
Which of the following should an analyst not do when on the second step of the AMPS model, mastering the data? Multiple Choice - Analyze the data. - Analyze the cost versus the value of obtaining needed data. - Ensure the data is not outdated. - Assess privacy concerns with the data.
Analyze the data.
When using an analytical mindset which of the following is the first task? Multiple Choice - Master the data. - Share the story. - Ask the right question. - Request data.
Ask the right question
Which term is used to describe the science of examining raw data, removing excess noise from the dataset, and organizing the data with the purpose of drawing conclusions for decision making? Multiple Choice: - Extract, transform, and load - Data Analytics - Audit Analytics - Big Data
Data Analytics
Which of the following is the best definition of the term big data? - Databases measured in terms of zettabytes. - Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities. - Databases for businesses that generate more than one million electronic transactions per month. - Datasets generated by social media applications such as Facebook, Twitter, Tencent QQ, and Instagram.
Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities.
Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities are referred to as big data. True or False
True
Which type of question does descriptive analysis address? Multiple Choice - Why did it happen? - Will it happen in the future? - What happened? - What should we do based on what we expect will happen?
What happened?
Which type of question does prescriptive analysis address? Multiple Choice: - Why did it happen? - Will it happen in the future? - What should we do based on what we expect will happen? - What happened?
What should we do based on what we expect will happen?
