Big Data & Big Business Intelligence

Question 1

What are the four characteristics in big data?

Answer 1

volume How much data is there? The size amount of data to be analyzed

variety How is the data structure? Form of data is structure or unstructured

veracity How reliable and accurate is the data? The quality trustworthiness accuracy and precison of the data

velocity How fast is the data generated? the speed of the data that is generated, processed and analyzed

Question 2

What are the storage techniques used to support data analytics?

Answer 2

Data warehouse - large amount of historical data which is stored

Data lakes - architecture used to store massive amount of data original format until it’s needed

Data marts - small version of data warehouse

Question 3

What is full refresh?

Answer 3

A way to load data, which process replaces and erases the entire database and starts all over. This is only used when an entity can’t figure out which data has been modified, added, or deleted.

Question 3

What are the four types of data analytics?

Answer 3

Descriptive - focuses on the past unknown patterns

Diagnostic - focuses on the past looks for the source or cause of the pattern identified

Predictive - focuses on the future trends and patterns

Prescriptive - focuses on the future and predict the outcome the best course of action going forward

Question 4

What are the Business Intelligence Technologies cloud computing?

Answer 4

Cloud Computing

• Storage
• Processing on 3rd party infastructure
• Web based applications

Question 5

What are the Business Intelligence Technologies storage?

Answer 5

Data warehouse
data lake
data mart

Question 6

What are the Business Intelligence Technologies Software Applications?

Answer 6

• Data analysis and visualization tools
• Dashboards
• Machine Learning

Question 7

What is data mining useful in figuring out? and

Answer 7

patterns and trends

Question 8

What are the three main roles for data governance described by the ISACA?

Answer 8

Data Owners - responsible for strategic decisions to provide overall direction for data governance.

Data stewards - responsible for the business perspective. Data stewards are data experts from different functional domains who focus on the correct data usage

Data Custodians - IT employees responsible for managing data from a technical perspective

Question 9

What is ETL how it’s used?

Answer 9

Accountants use ETL

Extract - when extracting data they need to consider the data relevancy, accurancy, completeness, validity, timeliness and consistency

Transformed - data from extraction can be inconsistent and have formatting issues. Transforming method is aggregate the data.

Loading phase - is when

Question 10

When would an accountant use probability analysis?

Answer 10

When there is a high level of uncertainty for uncertainty for critical variable

Ex would be when revenue is correlated with economic indicator

Question 11

What type of data analytic technique would management avoid?

Answer 11

They would avoid primary analytics

only consider Descriptive analytics
Diagnostic analytics
Predictive analytics

Question 12

Which data governance principals is achieived by forthcoming constraints, options and potential shortcoming of data related decisions?

Answer 12

remember the term shortcoming which is “Integrity”

Question 13

What isn’t a characteristic of relational database (RDB) ?

Answer 13

storing information sequentially

remember the RDB creates tables, rows , and columns to store data. Also, create relationship and communicate between tables through primary and foreign keys

Question 14

not a advantage of database normalization?

Answer 14

improves speed for queries

Question 15

If a organization wants to migrate data from several different systems to centralized location so that it can be analyzed for business intelligence purpose?

Answer 15

ETL

Extract, transform, and load process