Topic 6: ERP and Technological Concepts

Question 1

Big Data

Answer 1

The massive amount of web, system or sensor generated data that existing database management tools have difficulty capturing, storing and managing.

Question 2

Cloud Computing

Answer 2

A model of computing whereby computing services are obtained from a cloud provider over the internet and paid for based on a usage model.

Question 3

Customer Relationship Management (CRM)

Answer 3

Software designed with the specific purpose of viewing the organisation’s data from a customer-centric perspective that monitors and helps the management of customer interactions with the organisation. Examples include Siebel and SAP.

Question 4

Document Type Definition (DTD)

Answer 4

A set of specifications for XML tags.

Question 5

Elements

Answer 5

Each specific item tagged in a financial statement is an element.

Question 6

ERP Systems

Answer 6

Software designed to capture a wide range of information about all key business events including accounting and finance, human resources, sales and marketing, and manufacturing.

Question 7

eXtensible Business Reporting Language (XBRL)

Answer 7

A data standard used when generating financial reports.

Question 8

eXtensible Markup Language (XML)

Answer 8

A hypertext language which is used to add syntax to strings of data by embedding semantic tags. Useful for transaction processing where the data syntax is predictable and well defined.

Question 9

Hardware as a Service (HaaS)

Answer 9

A model of computing whereby hardware computing services are obtained from a cloud provider over the internet and paid for on a usage basis.

Question 10

HTML (HyperText Markup Language)

Answer 10

A language that a web browser uses to display a web page correctly, based on a set of standards.

Question 11

Infrastructure as a Service (IaaS)

Answer 11

A model of computing whereby computing infrastructure such as hardware, software, data, network and services are obtained from a cloud provider over the internet and paid for on a usage basis.

Question 12

Instance Document

Answer 12

An XBRL-tagged document containing information about an organisation’s financial statements at one instant in time.

Question 13

Linkbases

Answer 13

The parts of an XBRL taxonomy that control how the data elements are linked together, how the values in the elements are combined, and how they are to be presented.

Question 14

Material Requirements Planning (MRP)

Answer 14

MRP systems are computing systems which account for the logistics and production in an organisation.

Question 15

Metadata

Answer 15

Data that describes other data.

Question 16

NoSQL Databases

Answer 16

Databases generally used for big data that do not follow relational database rules or have the ability to use SQL to interrogate the data for information.

Question 17

Platform as a Service (PaaS)

Answer 17

A model of computing whereby computing infrastructure as well as programming tools are obtained from a cloud provider over the internet and paid for on a usage basis.

Question 18

Schema

Answer 18

A formal description of the structure and content of a database.

Question 19

Semantic Approach

Answer 19

An approach focused on meaning.

Question 20

Service Level Agreement

Answer 20

A document specifying what responsibilities the software-as-a-service provider has and how these are to be fulfilled.

Question 21

Software as a Service (SaaS)

Answer 21

Companies that provide software applications that can be leased by a range of clients.

Question 22

Sparse Data

Answer 22

Data from web services and sensor or environmental systems is considered to be sparse data in that it provides many attributes but the attributes instances recorded can be very small.

Question 23

Supply Chain Management (SCM)

Answer 23

Systems that monitor and assist the management of supplier interactions with the organisation.

Question 24

Taxonomies

Answer 24

The dictionaries that define each accounting item that can be tagged in XBRL.