Quiz Questions
computation of job order costing is
descriptive
An analysis of favorable and unfavorable price variances would be an example of __________ analytics. predictive prescriptive descriptive diagnostic
diagnostic
An analysis of price variance is consistent with Blank______ analytics. diagnostic descriptive prescriptive predictive
diagnostic
In which areas were skills not emphasized for analytic-minded accountants? Descriptive data analysis Data quality Data visualization and data reporting Data and systems analysis and design
Data and systems analysis and design
The four chart types include quantitative, qualitative, exploratory and: diagnostic data declarative data expository data descriptive data.
Declarative
On a Balanced Scorecard, which is not included as a component? Multiple Choice Financial Performance Employee Capacity Customer/Stakeholder Internal Process
Employee capacity
In a balanced scorecard, what are the actions that an organization can take to move its specified metrics in the direction of their stated target goal? Objectives Measures Targets Initiatives
Initiatives
What would you consider to be an operational KPI? Inventory Shrinkage Rate Revenue per Employee Brand Equity CAPEX to Sales Ratio
Inventory shrinkage rate
What does KPI stand for? Multiple Choice Key paired indicator Key performance indicator Key paired index Key performance index
Key performance indicator
What part of the IMPACT cycle does ETL fall under
Master the data
What part of the IMPACT cycle does assess data validation and completeness, and perform normalization fall under?
Master the data
_____________ data would be considered the least sophisticated type of data. Ratio Interval Nominal Ordinal
Nominal
1st place, 2nd place, and 3rd place would be best described as an example of: Ordinal data Interval data Nominal data Structured data
Ordinal
_____________blank data would be considered the most sophisticated type of data. Interval Nominal Ordinal Ratio
Ratio
Which of the following is not a typical example of nominal data? Hair color Gender Ethnic group SAT scores
SAT Scores
Which of the following visualizations is useful for showing the relationship between income and spending? Line chart Box and whisker plot Filled geographic map Scatter plot
Scatter plot
Which data approach attempts to identify similar individuals based on data known about them? Classification Data reduction Similarity matching Regression
Similarity matching
In a balanced scorecard, what should be achievable goals toward which to move the metric? Measures Initiatives Objectives Targets
Targets
Auditors can use social media to hear what customers are saying about a company and compare this to inventory obsolescence and other estimates. T or F
True
Qualitative data is categorical data. True or False
True
The value of 0 in interval data is simply another number on the scale. True or False
True
Which of the following visualizations is useful for showing the purchasing amounts of different groups of customers? Filled geographic map Box and whisker plot Line chart Scatter plot
box and whisker
Which data approach attempts to assign each unit in a population into a small set of classes (or groups) where the unit best fits? Co-occurrence grouping Regression Classification Similarity matching
classification (Assign each unit and classes are key words)
Which of the following best describes the goal of data scrubbing and data preparation: recognize what is meant by data quality, be it completeness, reliability or validity perform basic analysis to understand the quality of the underlying data and its ability to address the business question demonstrate ability to sort, rearrange, merge and reconfigure data in a manner that allows enhanced analysis Incorrect comprehend the process needed to clean and prepare the data before analysis
comprehend the process needed to clean and prepare the data before analysis
The IMPACT cycle specifically includes all except the following steps: perform test plan. communicate insights. address and refine results. data preparation.
data preparation
Which of these terms is defined as being a central repository of descriptions for all of the data attributes of the dataset? Big Data Data dictionary Data warehouse Data Analytics
data dictionary
What is defined as an interactive report showing the most important metrics to help users understand how a company or an organization is performing? Balanced Scorecard Performance metric Digital dashboard KPI
digital dashboard
Data that is represented by whole numbers is called: continuous data. ordinal data. discrete data. interval data.
discrete
XBRL stands for: eXtensible Behavioral Report Language eXtensible Business Reporting Language eXtensive Business Reporting Language
eXtensible Business Reporting Language
The Fahrenheit scale of temperature measurement would best be described as an example of: continuous data. interval data. discrete data. nominal data.
interval data
Which data approach attempts to predict connections between two data items? Regression Profiling Classification Link prediction
link prediction
Polar bears, brown bears, black bears, and panda bears would be best described as an example of: ordinal data. ratio data. nominal data. interval data.
nominal data
The calculation measuring how an organization is performing, particularly when that measure is compared to a baseline, is called a: performance metric. digital dashboard. key performance indicator. balanced scorecard.
performance metric
What type of analytics would be used to predict future sales for decision-making purposes? Prescriptive Predictive Descriptive Diagnostic
predictive
An analysis of cash flows of two different alternatives is consistent with Blank______ . descriptive analytics predictive analytics prescriptive analytics diagnostic analytics
prescriptive
The debt-to-equity ratio is an example of what type of ratios? Profitability Activity LIquidity Solvency
solvency
The times interest earned ratio is an example of what type of ratios? Solvency Profitability Liquidity Activity
solvency
What is the name of the output from data vendors to help compare companies using different XBRL tags for revenue?
standardized metrics
The most important KPIs should be placed in the _____________ corner of the page even if we are not following a strategy map template. top left bottom left bottom right top right
top left
Data analytics is the process of evaluating data with the purpose of drawing conclusions to address business questions. True or false
true
The IMPACT cycle includes all except the following steps: visualize the data. perform test plan. track outcomes. master the data.
visualize the data
Big Data is often described by the four Vs, or variability, velocity, veracity, and variety. volume, velocity, veracity, and variety. volume, volatility, veracity, and variability. volume, velocity, veracity, and variability.
volume, velocity, veracity, and variety.