Deck 7: Accounting and Business Intelligence

Question 1

By using various analysis, such as data mining and predictive modeling, data can be transformed into business intelligence.

Answer 1

True

Question 2

Uninformed consumers drive enterprises to use their information assets in more intelligent ways.

Answer 2

False

Question 3

Executive information systems provide information for tactical, semi-structured decisions.

Answer 3

False

Question 4

Intelligence involves the ability to see meaningful interrelationships and glean insights.

Question 5

Business intelligence cannot be used to improve decision making and business performance.

Question 6

________ provide information for tactical, semi-structured decisions and was a predecessor of today's intelligence tools.

Question 7

The purpose of integrating quantitative and qualitative factors in the decision making process is to

A)Organize the decision making process
B)Bring order to the complex business environment
C)Improve the quality of the decision
D)To analyze why customers buy a certain product or service

Question 8

Which of the following is an example of a routine business decision?

A)Contracting with another enterprise to provide a customer support call center
B)Using the most cost effective shipping procedure
C)Purchasing a competing business
D)Launching a new product

Question 9

Decision support systems provided support for strategic decisions.

Question 10

What are the three main functions of an accounting system?

Question 11

Which one of the following is NOT a predecessor of today's tools used for data analysis?

A)Executive information systems
B)Business intelligence systems
C)Enterprise resource planning systems
D)Decision support systems

Question 12

Business intelligence answers questions such as

A)What products did customers buy last week?
B)What products did customers buy today?
C)What products will customers will buy next year?
D)What products did customers buy last years?

Question 13

Tactical decisions are

A)Recurring and typically relate to ongoing business operations
B)Usually long term in nature and unstructured with a high degree of ambiguity
C)Typically short term, impacting one year or less
D)Structured

Question 14

________ uses mathematical algorithms to find patterns, trends, and relationships among data, such as customer purchasing patterns.

Question 15

Which business intelligence tool is more likely to identify a credit card transaction from a stolen credit and not from the cardholder?

A)Data mining
B)Predictive modeling
C)Interactive decision model
D)Shadow data

Question 16

________ systems provided information for routine, operational decisions.

Question 17

Which business intelligence tool is more likely to identify the next "must have" children's toy?

A)Shadow data
B)Predictive modeling
C)Data mining
D)Interactive decision model

Question 18

________ uses mathematical algorithms to predict future trends, such as future customer purchases.

Question 19

________ are IT tools suited for storing data, but have limitations for analyzing data.

Question 20

Which of the following is an example of a strategic decision?

A)Contracting with another enterprise to provide a customer support call center
B)Using the most cost effective shipping procedure
C)Purchasing a competing business
D)Launching a new product

Question 21

What were the predecessors of today's sophisticated intelligence tools used for data analysis?

Question 22

List and explain the seven basic steps in the IDM framework.

Question 23

The process of integrating financial and non-financial factors into the decision process can lessen the quality of the decision.

Question 24

What is a qualitative factor?

Question 25

A digital dashboard, an interactive tool that allows a user to see the effect of changes in various scenarios, is an example of ________.

Question 26

Create/draw the IDM template.

Question 27

IDM provides a framework to structure and organize the decision-making process.

Question 28

As the business environment becomes more complex and diverse, more factors must be considered when making decisions.

Question 29

With ________ analysis you are attempting to compare the financial costs and benefits of each option and determine the differences.

Question 30

In the IDM basic steps framework, quantitative analysis may consist of

A)Product quality, timeliness, the stress factor, streamlining, ease of use, overall satisfaction
B)Creative solutions and brainstorming techniques
C)Cost-benefit analysis, cost-volume-profit analysis, capital budgeting
D)Make certain you have identified and are addressing the core issue rather than a symptom

Question 31

Business intelligence technologies are typically under the control of the enterprise's IT professionals.

Question 32

Define the three of business decisions. Provide an example of each.

Question 33

Shadow data typically includes analytics, data mining, and predictive modeling.

Question 34

What is the integrative decision model?

Question 35

The last step in IDM is

A)Analyze the quantitative factors
B)Make recommendations
C)Implement the decision
D)Evaluate performance

Question 36

________ is used when data is stored in spreadsheets and other tools that shadow the formal accounting system.

Question 37

The IDM consists of seven basic steps as a framework for the decision-making and evaluation process. List these steps in order.

Question 38

The ________ provides a framework to structure and organize the decision-making process.

Question 39

The first step in IDM is

A)Define the symptom of the issue
B)Analyze the quantitative factors
C)Evaluate performance
D)Identify options

Question 40

What is a quantitative factor? Provide an example.

Question 41

An analysis tool NOT designed for software spreadsheets is

A)AutoFilter
B)PivotTables
C)Subtotal
D)Neural networks

Question 42

Business informatics focuses on how to

A)Visualize data
B)Store data
C)Keep data secure
D)Use information technology to solve business problems

Question 43

Software called ________ translates data analysis query commands into commands that are compatible with RDBMS commands.

Question 44

Control of business intelligence technologies is usually under the control of

A)IT professionals
B)Accounting professionals
C)Security professionals
D)Executive management

Question 45

A spreadsheet identifier is

A)The name of the spreadsheet file and is not unique
B)An identification assigned to a spreadsheet that is unique throughout the enterprise
C)A password that allows viewing and editing permissions to a spreadsheet
D)A password that allows viewing permissions to a spreadsheet

Question 46

Data storage for shadow data is kept in a centralized location in an organization.

Question 47

Businesses are turning to complex mathematical formulas, called ________, to analyze data to make better decisions.

Question 48

Which of the following is considered a disadvantage of shadow data?

A)Spreadsheets are outside the formal data systems under IT control.
B)An accounting professional can develop the spreadsheet solution when needed.
C)Spreadsheets have extensive analytic features.
D)Spreadsheets offer reporting features that do not require custom programming.

Question 49

The main components of an intelligent system work together to

A)Identify meaningful interrelationships
B)Create shadow data
C)Prevent unauthorized access to the data
D)Store data

Question 50

Shadow data can exist in tools other than spreadsheets, such as user-developed databases.

Question 51

List and explain the four components of an intelligent enterprise system.

Question 52

Business ________ focuses on how to use information technology to solve business problems.

Question 53

What are two approaches to business intelligence commonly used by companies?

Question 54

A digital dashboard is a(n)

A)Tool used to extract data from a data database
B)Interactive data visualization tool
C)Transfers data to a data analysis tool
D)Stores data

Question 55

Open Database Connectivity

A)Performs analysis on shadow data
B)Performs analysis on data in a relational database
C)Provides a visual image of the data
D)Translates query commands into commands compatible to RDBMS commands

Question 56

Quantitative data answers which question?

A)What?
B)How much?
C)Where?
D)Why?

Question 57

Shadow data is vulnerable to

A)Data analysis
B)Unauthorized access
C)Data collection
D)Manipulation

Question 58

Shadow data may be stored in

A)MS Access
B)Lotus Notes
C)Emails
D)All the above

Question 59

A shadow data dashboard in an Excel spreadsheet can be created using

A)AutoFilter and PivotCharts
B)Conditional Formatting and Subtotal
C)PivotTables and PivotCharts
D)PivotTables and Conditional Formatting

Question 60

Control of shadow data is usually under the control of

A)IT professionals
B)Accounting professionals
C)Security professionals
D)Middle management

Question 61

Large data warehouses usually store data using a dimensional database structure.

Question 62

What are the advantages of shadow data?

Question 63

What are some of the data analysis tools available for software spreadsheets, such as MS Excel?

Question 64

________ techniques rely on pattern recognition, clustering, and neural networks.

Question 65

What are three ways of standardizing and securing shadow data spreadsheets within an organization?

Question 66

In a dimensional database with a star structure, a query traverses only three tables.

Question 67

What is the purpose of Open DataBase Connectivity (ODBC)software?

Question 68

The primary keys of the dimension tables are foreign keys in the ________ at the center of the star.

Question 69

A dimensional database has one ________ table and two or more dimension (Dim)tables.

Question 70

Business Intelligence Technologies are a type of advanced data analytics used to support business decision making.

Question 71

________ searches the internet for specific patterns on web sites.

Question 72

A ________ graphically represents BI, allowing the user to manipulate data and view the resulting changes.

Question 73

No matter how complex the BI technologies, the role of the accounting professional typically involves only the ________ tool.

Question 74

What are the disadvantages of shadow data?

Question 75

Foreign keys in a dimensional table are primary keys in a fact table.

Question 76

Why are shadow data spreadsheets created?

Question 77

A data warehouse may contain data duplication and inconsistencies.

Question 78

Why are spreadsheets popular for performing data analysis?

Question 79

________ tools convert data into the dimensional structure required for a data warehouse.

Question 80

The dimension tables in a star database are dimensions of the database, such as time dimension, product information, sales territory, and currency.