Question

1Which of the following is the best definition of the term big data?

Multiple Choice

• Databases measured in terms of zettabytes.

• Datasets that are too large and complex for businesses’ existing systems utilizing traditional capabilities.

• Databases for businesses that generate more than one million electronic transactions per month.

• Datasets generated by social media applications such as Facebook, Twitter, Tencent QQ, and Instagram.

2.Which of the following areas of financial reporting is most suitable for applying data analytics techniques?

Multiple Choice

• Evaluation of estimates and valuations.

• Variance reporting.

• Calculating the components of equity.

• Depreciation.

3.The insight provided through data analytics can help companies in all of the following ways except:

Multiple Choice

• dictate the policies of external business partners.

• create more directed marketing campaigns.

• identify future opportunities and risks.

• affect internal business processes in order to improve productivity, utilization and growth.

Answer 1

1.
Answer is b. Datasets that are too large and complex for businesses’ existing systems utilizing traditional capabilities.

2.
Answer is a. Evaluation of estimates and valuations.
Data analytics in helpful in evaluation of estimates and valuations. Various techniques can be used for same

3.
Answer is a. dictate the policies of external business partners.