Flashcards
Chapter 10 Key Terms
Cards in this deck (14)
- 1Big DataDatasets that are too large and complex for businesses’ existing systems to handle utilizing their traditional capabilities to capture, store, manage, and analyze these datasets.
- 2structured dataHighly organized data that fits nicely in a table or a database. A balance sheet or income statement is a good example.
- 3unstructured dataData without internal organization (or structure). Blogs, social media, and pictures posted on Instagram are examples of unstructured data.
- 4semi-structured dataData that has elements of both structured (highly organized) and unstructured (not highly organized) data.
- 5Data AnalyticsThe science of examining raw data (now often Big Data), removing excess noise from the dataset, and organizing the data to conclude decision-making.
- 6extract, transform, and load (ETL)The process of cleaning and scrubbing the data before data analysis can take place.
- 7data integrityMaintaining and assuring the accuracy and consistency of data during transmission and storage.
- 8numerical dataData is associated with a number that has a logical order.
- 9categorical dataData with no logical order can’t be translated into a numerical value.
- 10Audit Data Standards (ADS)A standard format for data files and fields typically needed to support an external audit in a given financial business process area was developed by the AICPA.
- 11descriptive analyticsAnalysis performed that characterizes, summarizes, and organizes features and properties of the data to facilitate understanding.
- 12diagnostic analyticsAn analysis is performed to investigate the underlying cause that cannot be answered by simply looking at the descriptive data.
- 13predictive analyticsAn analysis is performed to provide foresight by identifying patterns in historical data by judging likelihood or probability.
- 14prescriptive analyticsAnalysis performed that identifies the best possible options given constraints or changing conditions.
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- Description
- These are the critical words for Chapter 10.
- Created by
- JACKSON BOEVE
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