Deck 7: Accounting and Business Intelligence

Question 1

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

Answer 1

Predictive modeling

Question 2

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?

Answer 2

C

Question 3

________ can be used to improve decision making and business performance.

Answer 3

Business intelligence

Question 4

________ systems provided information for routine, operational decisions.

Question 5

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

Question 6

Strategic decisions are typically short term, impacting one year or less.

Question 7

Data is transformed into information (meaningful data)when the data is processed and organized in a systematic manner.

Question 8

Decision support systems provided support for strategic decisions.

Question 9

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 10

Business intelligence can be used to answer questions such as "What products did customers purchase last year?"

Question 11

Routine decisions are

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

Question 12

Strategic decisions are

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

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

In an Integrative Decision Model, an example of a qualitative factor is

A)Revenue
B)Cost
C)Return on investment
D)Product quality

Question 15

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 16

________ decisions are recurring and typically relate to ongoing business operations.

Question 17

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

Question 18

Predictive modeling uses mathematical algorithms to

A)Identify trends
B)Predict future trends
C)Find patterns
D)Identify relationships among data

Question 19

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

Question 20

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 21

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

Question 22

What is the Integrative Decision Model?

Question 23

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

Question 24

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

Question 25

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

Question 26

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

Question 27

An IDM spreadsheet template includes both quantitative (financial)and qualitative (non-financial)analysis.

Question 28

What is a qualitative factor?

Question 29

A data warehouse is a large database that serves as a central location for aggregating and storing an enterprise's data.

Question 30

What is a quantitative factor? Provide an example.

Question 31

Create/draw the IDM template.

Question 32

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

Question 33

________ technologies include analytics, data mining, and predictive modeling.

Question 34

In the IDM basic steps framework, when 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 35

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

Question 36

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

Question 37

One of the steps not in the IDM basic steps framework is

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

Question 38

Qualitative data answers which question?

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

Question 39

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

Question 40

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

Question 41

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

Question 42

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 43

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

Question 44

An analysis tool not designed for software spreadsheets is

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

Question 45

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

Question 46

Business intelligence technologies do not include

A)Data storage
B)Analytics
C)Predictive modeling
D)Data mining

Question 47

Standardizing spreadsheets to permit global spreadsheet analysis within an organization does not involve

A)The creation of formatting guidelines
B)Password protecting individual spreadsheets
C)Requiring all spreadsheets be stored on an enterprise server
D)Assigning a unique identifer to each spreadsheet

Question 48

Quantitative data answers which question?

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

Question 49

Business intelligence tools allow you to

A)View the same data in different ways
B)Examine past history
C)Transform data into information
D)Extract data from a database

Question 50

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

Question 51

Spreadsheets can be used to

A)Create two-dimensional databases
B)Store data that is not in the accounting system
C)Keep data secure
D)A and B

Question 52

Data is extracted from a database and transferred to a spreadsheet using

A)Open DataBase Connectivity (ODBC)
B)Extract/Transfer/Load tools
C)Manual entry
D)B and C

Question 53

Control of business intelligence technologies is usually under the control of

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

Question 54

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 55

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 56

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

Question 57

The ODBC as a ________ between the database and the spreadsheet.

Question 58

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 59

Shadow data is vulnerable to

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

Question 60

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

Question 61

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

Question 62

Business intelligence technologies reside under the control of the ________ providing the opportunity for standardization of controls to secure the system.

Question 63

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

Question 64

An ________ is simply a step-by-step solution to a problem.

Question 65

Business intelligence technologies are

A)Just another form of unsecured shadow data
B)Are usually controlled by accounting professionals
C)A type of advanced data analytics used to support business decision making
D)Consist of database queries that take a long time to run

Question 66

What are the disadvantages of shadow data?

Question 67

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

Question 68

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

Question 69

What are the advantages of shadow data?

Question 70

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

Question 71

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

Question 72

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

Question 73

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

Question 74

Why are shadow data spreadsheets created?

Question 75

________ can be used to mine text stored in various enterprise documents, including emails, word processing documents, and reports.

Question 76

BI technologies store in a data warehouse that uses the relational database structure.

Question 77

Why are spreadsheets popular for performing data analysis?

Question 78

Predictive modeling also uses algorithms to identify patterns and trends and then predict future behavior.

Question 79

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

Question 80

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