ACC200 Ch7 Set 1 REVERSED

Question 1

Fig7.1 pg259

Answer 1

Transforming Data to Information to Business Technology?

Question 2

storing data

Answer 2

Relational databases are well suited for?

Question 3

data analysis to create business intelligence

Answer 3

Intelligence tools are better suited for?

Question 4

1) store accounting data
2) analyse accounting data to use in decision making
3) safeguard the accounting data

Answer 4

Three main functions of the accounting system?

Question 5

uses mathematical algorithms to find patterns, trends, & relationships among data, such as customer purchasing patterns

Answer 5

Data mining

Question 6

uses mathematcal algorithms to predict future trends, such as future customer purchases

Answer 6

Predictive modeling

Question 7

Fig7.2

Answer 7

Accounting system functions: store, analyse & safeguard data

Question 8

1) routine operational decision (structured decisions)
2) tactical decisions (semi-structured decisions)
3) strategic decisions (unstructured decisions)

Answer 8

Three types of business decisions

Question 9

are recurring & typically relate to ongoing business operations

Answer 9

Routine operational decisions?

Question 10

typically short term, impacting one year or less

Answer 10

Tactical decisions

Question 11

usually long term in nature & structure with a high degree of ambiguity

Answer 11

Strategic decisions

Question 12

provides a framework to structure & organise the decision making process

Answer 12

Integrative decision model (IDM)

Question 13

Fig7.3 pg262

Answer 13

Integrative decision model (IDM) template

Question 14

1) define the opportunity or issue
2) identify options to address the opportunity or issue
3) analyse quantitative (financial) factors
4) analyse qualitative (nonfinancial) factors
5) make recommendation and/or decision
6) implement decision
7) evaluate performance

Answer 14

IDM consists of seven steps as a framework for the decision-making & evaluating process

Question 15

Fig7.4 pg262

Answer 15

Integrative Decision Model (IDM)

Question 16

used when data is stored in spreadsheets & other tools that shadow the formal accounting system

Answer 16

Shadow data

Question 17

include analytics, data mining, & predictive modeling; typically under the control of the enterprise’s IT professionals

Answer 17

Business intelligence (BI) technologies

Question 18

1) data storage
2) data extraction
3) data analysis
4) data visualisation

Answer 18

Four components in an intelligence enterprise system are

Question 19

Fig7.8 pg266

Answer 19

Intelligence System Components

Question 20

data is stored using operational databases, data warehouses, & other data storage

Answer 20

Data storage