Data Analytics ACCTCY 4328

Final Exam

Big Data

datasets that are too large and complex for businesses’ existing systems to handle their traditional capabilities to capture store, manage, and analyze these data sets

Volume

massive amount of data involved

Velocity

data comes in a quick speeds or in real time (news feeds)

Variety

unstructured and unprocessed data (social media comments)

Veracity

quality of data (including cleanliness which includes errors/data integrity issues, reliability and representationally faithful)

Data analytics

science of examining raw data, removing excess noise, and organizing data with the purpose of drawing conclusions for decision making

Limiting factors of data analytics

storage and processing power

ETL

Extract, Transform, and Load; what data scientists must do to large volumes of data from multiple sources/platforms

Impact of DA on Financial Accounting

 identify trends, identify potential risks and opportunities

Impact of DA on Auditing

spend less time looking for evidence and more time making judgements; expanded capabilities in services

AMPS Model

1. Ask the question 2. Master the data 3. Perform the analysis 4. Share the story

Data Visualization

Process of presenting information graphically

Steps of Data Visualization

1. understand the data 2. select data visualization tool 3. develop and present the visualization

Categorical Data Type

Vertical bar, horizontal bar, treemaps, bubble charts

Categorical Data Purpose

Comparisons of performance metrics

Univariate Data Type

Histograms

Univariate Data Purpose

Frequencies, range of values, most likely values

Multivariate relationship Data Type

Scatter plots

Multivariate relationship Data Purpose

Relationships, correlations

Geospatial Data Type

Maps, symbol maps

Geospatial Data Purpose

Comparisons among locations

Time trends type

Line Charts

Time trends data purpose

comparison over time

Proportional Data Type

Pir Charts, doughnut charts, treemaps

Proportional Data Purpose

Comparison of parts of a whole