Accounting Analytics Midterm Exam 2023 with complete answers

Data Analytcics correct answersthe process of evaluating data with the purpose of drawing conclusions to address business questions; provides a way to search through large structured and unstructured data to identify unknown patterns or relationships Big Data correct answersdatasets that are too large and complex for businesses' existing systems to handle utilizing their traditional capabilities to capture, store, manage, and analyze these datasets 3 V's correct answersVolume = sheer size, velocity = speed of data processing, and variety = number of types of data $ Value per year correct answers$3 trillion IMPACT correct answersIdentify the questions, master the data, perform the test plan, address and refine the results, communicate insights, and track outcomes I correct answersIdentify the questions; understand the business problem that needs addressing M correct answersMaster the data; know what data are available, whether those data might be able to help address the business problem; ex. how to access, availability, reliability, time periods covered P correct answersPerform the test plan; think of the right approach to identify the relationship and those items that affect the response response variables correct answersaka dependent variables; responds to another variable predictor variables correct answersaka independent or explanatory variables; predicts or explains another variable