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Analytics and Big Data for Accountants
book

Analytics and Big Data for Accountants

by Jim Lindell
May 2018
Beginner to intermediate content levelBeginner to intermediate
208 pages
4h 55m
English
Wiley
Content preview from Analytics and Big Data for Accountants

SOLUTIONS

CHAPTER 1

Practice Question Solutions.

1.

Big data includes high-volume, high-velocity, and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making. Big Data can be classified into areas such as structured data, unstructured data, and streaming data.

2.

Descriptive, diagnostic, predictive, and prescriptive.

3.

Hadoop is a free, Java-based programming framework that supports the processing of large data sets in a distributed computing environment. It is part of the Apache project sponsored by the Apache Software Foundation.

4.

A data scientist is an employee or business intelligence consultant who excels at analyzing data, particularly large amounts of data, to help a business gain a competitive edge.

Solutions to Knowledge Check Questions.

1.

a.     Incorrect. Big Data is applicable to any organization—not just multi-national companies.

b.     Correct. Structured, unstructured, and streaming data.

c.     Incorrect. Big Data goes beyond ERP systems. It includes all data: structured data, unstructured data, and streaming data.

d.     Incorrect. Big Data refers to a type of data. Serial processing is not associated with Big Data but massively parallel processing is.

2.

a.     Incorrect.1 million. Snapchat users watch nearly 7 million videos every minute.

b.     Incorrect. 4 million. Snapchat users watch nearly 7 million videos every minute.

c.     Correct. 7 million Snapchat users ...

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Publisher Resources

ISBN: 9781119512332Purchase book