Chapter 1 Handout
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University of the Pacific, Stockton *
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Course
293E
Subject
Information Systems
Date
Feb 20, 2024
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docx
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2
Uploaded by ChefEel4028
Chapter 1 Handout
Part One: Multiple Choices
1: Big Data is often described by the four Vs, or
a)
Volume, velocity, veracity, and variability
b)
Volume, velocity, veracity, and variety
c)
Volume, volatility, veracity, and variability
d)
Variability, velocity, veracity, and variety
2: Which data approach attempts to assign each unit in a population into a small set of classes (or
groups) where the unit best fits?
a)
Regression
b)
Similarity matching
c)
Co-occurrence grouping
d)
Classification
3: Which data approach attempts to identify similar individuals based on data known about them?
a)
Classification
b)
Regression
c)
Similarity matching
d)
Data reduction
4: Which of these terms is defined as being a central repository of descriptions for all the data attributes of the dataset?
a)
Big data
b)
Data warehouse
c)
Data dictionary
d)
Data analytics
5: Which skills were not emphasized that analytic-minded accountants should have?
a)
Developed analytics mindset.
b)
Data scrubbing and data preparation (clean out data, make data clear)
c)
Classification of test approaches
d)
Statistical data analysis competency
6: In which areas were skills not emphasized for analytic-minded accountants?
a)
Data quality
b)
Data visualization and data reporting
c)
Data and systems analysis and design
d)
Descriptive data analysis
7: The IMPACT cycle includes all except the following steps:
a)
Perform test plan
b)
Visualize the data
c)
Master the data
d)
Track outcomes
8: The IMPACT cycle specifically includes all except the following steps:
a)
Data preparation
b)
Communicate insights
c)
Address and refine results
d)
Perform test plan
Part Two: Problems
1: Match each of the specific Data Analytics tasks to the stage of the IMPACT cycle:
•
Identify the Question
•
Master the Data
•
Perform Test Plan
•
Address and Refine Results
•
Communicate Insights
•
Track Outcomes
Specific Data Analytics Task
Stage of IMPACT Cycle 1.
Should we use company-specific data or macro-
economic data to address the accounting question?
Master the data
2.
What are appropriate cost drivers for activity-based costing purposes?
Identify the question
3.
Should we consider using regression analysis or clustering analysis to evaluate the data?
Perform Test Plan
4.
Should we use tables or graphs to show management what we’ve found?
Communicate Insights
5.
Now that we’ve evaluated the data one way, should we perform another analysis to gain additional insights?
Address and Refine Results
6.
What type of dashboard should we use to get the latest,
up-to-date results?
Track Outcomes
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