CH 11 ACCCTG 432
Data visualization
Assists with big data analytics to display data results in a visual context.
Which of the following is a critical success factor in data mining a large data store? Answers A.Image processing systems. B.Accurate universal resource locator (URL). C.Effective search engines. D.Pattern recognition.Answer D is correct.Data mining allows a user to discover hidden relationships, such as associations, sequences of events, classifications (descriptions of the groups to which the item belongs), or clusters (new groupings previously not known). Typical applications of data mining are identification of potential customers and purchasing power.
D.Pattern recognition. Answer D is correct.Data mining allows a user to discover hidden relationships, such as associations, sequences of events, classifications (descriptions of the groups to which the item belongs), or clusters (new groupings previously not known). Typical applications of data mining are identification of potential customers and purchasing power.
Financial statements and their notes are examples of Answers Financial Statements Notes to FinancialStatements A.Structured dataStructured data B.Unstructured dataUnstructured data C.Structured dataUnstructured dataAnswer C is correct.Structured data refers to data that are highly organized into predefined groupings and typically maintained in relational databases. The data are predefined such that each item falls into a specific anticipated data type. Unstructured data refers to information that has little or no predefined organizational structure, which makes it more difficult for computer programs to search, sort, and analyze. Financial statement amounts are reported in XBRL and stored as floats that can easily be sorted and searched by computer programs. Notes to financial statements usually have little predefined organizational structure and are difficult to sort and analyze using computer programs. D.Unstructured dataStructured data
Structured data=Financial Statements Unstructured data=Notes to FinancialStatements
Under which category of data analysis should "anomaly detection" be classified? Answers A.Descriptive analysis.Answer A is correct.The purpose of anomaly detection is to identify unusual patterns or deviations from the norm or expected results. The focus of anomaly detection is on the reporting of historical information (i.e., descriptive analysis). B.Diagnostic analysis. C.Predictive analysis. D.Prescriptive analysis.
A.Descriptive analysis. Answer A is correct.The purpose of anomaly detection is to identify unusual patterns or deviations from the norm or expected results. The focus of anomaly detection is on the reporting of historical information (i.e., descriptive analysis).
Which of the following is included in the Four Vs of big data? Answers A.Variety. B.Volume. C.Velocity. D.All of the answers are correct.Answer D is correct.The four Vs of big data include volume, velocity, variety, and veracity. Some people include the value of the data as a fifth V.
All of the answers are correct
A car insurance company is considering opening branches in a foreign country. The country's population has been growing rapidly for the last 5 years. The company wants to know whether the number of car accidents are correlated with the recent population growth. Which of the following charts prepared by an analyst would be most helpful to the company? Answers A.A pie chart showing the number of car accidents in each city for the last 5 years. B.A scatter plot showing the number of car accidents on the y-axis and the population size on the x-axis.Answer B is correct.A scatter plot is the best way to present the relationship by illustrating the correlation between the number of car accidents (y variable) and the population size (x variable). C.A line chart showing each month on the x-axis and the number of car accidents on the y-axis. D.A table showing the number of car accidents in rows and the population size in columns.
B.A scatter plot showing the number of car accidents on the y-axis and the population size on the x-axis. Answer B is correct.A scatter plot is the best way to present the relationship by illustrating the correlation between the number of car accidents (y variable) and the population size (x variable).
Which of the following best describes semi-structured data? Answers A.Data organized into predefined groupings that can be easily sorted or searched. B.Large amounts of data collected from various sources. C.Data that are not highly organized but still have some identifying information.Answer C is correct.Semi-structured data refers to data that are not as highly organized as structured data but still have some identifying information that can be used for organization by computer programs. D.Information that has little or no predefined organizational structure.
C.Data that are not highly organized but still have some identifying information. Answer C is correct.Semi-structured data refers to data that are not as highly organized as structured data but still have some identifying information that can be used for organization by computer programs.
Bubble charts, while similar to scatter plots, add a third variable, which is
The size of data points
An organization's primary focus is on what it needs to do in order to accomplish its predicted future. Which of the following data analytics methods would best address this concern? Answers A.Anomaly detection. B.Prescriptive analysis.Answer B is correct.Prescriptive analysis concentrates on what an organization needs to do in order for the predicted future results to actually occur and therefore addresses this concern. C.Network analysis. D.Predictive analysis.
.Prescriptive analysis. Answer B is correct.Prescriptive analysis concentrates on what an organization needs to do in order for the predicted future results to actually occur and therefore addresses this concern.
Which one of the following statements defines data mining? Answers A.A process of using algorithms that serve to facilitate efficient communication within a firm. B.A process of using statistical techniques to extract and analyze data from large databases to discern patterns and trends.Answer B is correct.Data mining examines large amounts of data to discover patterns using statistical models and techniques. The term data mining is somewhat misleading because its purpose is the discovery of patterns in large amounts of data, not the extraction of the data itself. C.A system used to organize and interpret complex data to ensure the data has been accurately recorded in the database. D.A system used to develop a firm's performance metrics.
A process of using statistical techniques to extract and analyze data from large databases to discern patterns and trends
Deviation from expected results can be identified by which application of data analytics? Answers A.Anomaly detection.Answer A is correct.Anomaly detection is used to identify unusual patterns or deviations from the norm or expected results. B.Diagnostic analysis. C.Data fusion. D.Prescriptive analysis.
Anomaly detection. Answer A is correct.Anomaly detection is used to identify unusual patterns or deviations from the norm or expected results.
Data normalization focuses on conserving Answers A.Data compliance. B.Data integrity.Answer B is correct.Data normalization involves storing each data element as few times as necessary. It results in the reduction of data and strengthened data integrity, which is ensuring that data accurately reflect the business events underlying them and that any anomalies are rectified. C.Data availability. D.Data confidentiality.
Answer B is correct.Data normalization involves storing each data element as few times as necessary. It results in the reduction of data and strengthened data integrity, which is ensuring that data accurately reflect the business events underlying them and that any anomalies are rectified.
Which of the following best describes unstructured data? Answers A.Data systematically stored with markers to enforce hierarchies of records and fields within the data. B.Information that is not organized in a pre-defined manner (e.g., text-heavy facts, dates, numbers, and images).Answer B is correct.Unstructured data refers to information that is not organized in a pre-defined manner (e.g., text-heavy facts, dates, numbers, and images). C.Data with a high level of organization. D.Conforms with the organization of data models associated with relational databases.
Information that is not organized in a pre-defined manner (e.g., text-heavy facts, dates, numbers, and images). Answer B is correct.Unstructured data refers to information that is not organized in a pre-defined manner (e.g., text-heavy facts, dates, numbers, and images).
Which of the following is a correct statement regarding in-memory analytics? Answers A.It examines large amounts of data to discover patterns in the data. B.It analyzes data from system memory instead of hard drives.Answer B is correct.In-memory analytics analyzes data from system memory instead of hard drives. C.It is an open source software framework that stores large amounts of data and runs applications on clusters of commodity hardware. D.It is a technology that uses data, statistical algorithms, and machine-learning techniques to identify the likelihood of future outcomes based on historical data.
It analyzes data from system memory instead of hard drives.
Which of the following is a false conclusion regarding Product A? Answers A.Product costs for Product A are the highest among the products. B.Period costs for Product A are the highest among the products.Answer B is correct.Period costs are costs that are expensed as incurred but not capitalized as part of inventory. In the cost categories listed in the visualization, the selling, general, and administrative (SG&A) costs are the period costs. Among the five products, Product A does not have the highest period costs (i.e., the bar for SG&A costs is not the longest).
Period costs for Product A are the highest among the products. Answer B is correct.Period costs are costs that are expensed as incurred but not capitalized as part of inventory. In the cost categories listed in the visualization, the selling, general, and administrative (SG&A) costs are the period costs. Among the five products, Product A does not have the highest period costs (i.e., the bar for SG&A costs is not the longest).
The type of data analytics that is most likely to yield the most impact for an organization but is also the most complex is called Answers A.Descriptive analysis. B.Diagnostic analysis. C.Predictive analysis. D.Prescriptive analysis.Answer D is correct.Prescriptive analysis uses descriptive, diagnostic, and predictive analytics to improve business strategy. It concentrates on what an organization needs to do in order for the predicted future results to actually occur. This type of analytics provides the most benefit but requires the most inputs.
Prescriptive analysis. Answer D is correct.Prescriptive analysis uses descriptive, diagnostic, and predictive analytics to improve business strategy. It concentrates on what an organization needs to do in order for the predicted future results to actually occur. This type of analytics provides the most benefit but requires the most inputs.
Pie charts are best used for displaying Answers A.The relationship between two quantitative variables. B.Trends or variability over time. C.Relative proportions at a specific period in time.Answer C is correct.Pie charts use circles to display the whole set of data, with each category displayed as a segment of the circle or a percentage of the total. Pie charts generally can only depict the relative proportions at a specific period. D.Changes in components over time.
Relative proportions at a specific period in time. Answer C is correct.Pie charts use circles to display the whole set of data, with each category displayed as a segment of the circle or a percentage of the total. Pie charts generally can only depict the relative proportions at a specific period.
Which of the following best represents the application of predictive analytics? Answers A.A consultant organizes an analysis of causation for dissatisfied workers and possible interactions among causes. B.The website recommends pet toys and bedding after the customer purchases pet food.Answer B is correct.A common use of predictive analytics in the retail sector occurs when a customer selects an item to purchase online and prepares to finalize the transaction; the web page then displays additional products other customers purchased in conjunction with the initial item. C.The human resource manager prepares an analysis to show which departments have the highest employee turnover. D.A cost accountant monitors whether direct materials used are within the acceptable variations for the last 6 months.
The website recommends pet toys and bedding after the customer purchases pet food.
Each of the following represents a characteristic of big data except A.Mixture. B.Uniformity.Answer B is correct.Big data is often characterized by the "4 Vs" - volume, variety, velocity, and veracity. Thus, uniformity is not a characteristic of big data. C.Speed. D.Size.
Uniformity.
