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.