Data Analytics

These flashcards cover fundamental concepts and terms related to data analytics as discussed in the lecture notes.

Descriptive Analytics

The type of analytics that answers questions about what has happened or what is happening.

Diagnostic Analytics

Analytics that investigates why something happened and identifies the reasons for past results.

Predictive Analytics

Analytics used to forecast future outcomes based on historical data.

Prescriptive Analytics

Analytics that suggests actions to optimize outcomes based on predictions.

AMPS Framework

A structured approach for data analytics involving asking questions, mastering data, performing analysis, and sharing results.

Data Integrity

The quality of data that is accurate, valid, and consistent over time.

Bloom's Taxonomy

A framework that categorizes levels of cognitive skills ranging from lower-order to higher-order processing.

Automation in Accounting

The use of technology to perform accounting tasks, allowing accountants to focus on analysis and decision-making.

what are the levels of Bloom’s Taxonomy

Remember, Understand, Apply, Analyze, Evaluate, Create

what three levels of Bloom’s Taxonomy does basic accounting curriculum address?

Remember, Understand, Apply

What is the “A” in AMPS framework stand for?

Ask the question

What is the “M” in AMPS framework stand for?

Master the Data

What is the “P” in AMPS framework stand for?

Perform the analysis

What is the “S” in AMPS framework stand for?

Share the story

What are the key statistics to calculate

mean, median, min, max, number of observations