ACC200 Ch7 Set 2 Flashcards Preview

ACC200 > ACC200 Ch7 Set 2 > Flashcards

Flashcards in ACC200 Ch7 Set 2 Deck (20):
1

Data extraction & transfer

used to extract data stored in databases (operational databases & data warehouses) & transfer the data into data analysis tools

2

Data analysis

used to analyse data to identify interrelationships & insights that can be used to create intelligence for better business decisions

3

Data visualisation

include user interface applications that display results of the data analysis on the user's computer

4

Digital dashboard

often interactive, permitting the viewer to see the effect of changes in various scenarios, parameters, & variables

5

Shadow data storage

may be scattered throughout an organisation

6

Shadow data

Fig 7.9 pg268

7

Shadow data extraction & transfer

given the widespread use of spreadsheets, ways to transfer data from the accounting database into spreadsheets have been streamlined to meet this demand. 

a relational database management system (RDMS) is used to estract data from the operational database, using queries; because the data analysis application may not be compatible with the database's RDBMS query commands, software called Open Database Connectivity (ODBC) is used

8

Open database connectivity (ODBC)

may be necessary to translate the data analysis query commands into commands that are compatible with RDBMS commands

9

Shadow data spreadsheet analysis tools

one reason often cited for the popularity of spreadsheets among accountants is the ease of performing data analysis. The end-user accoutant can perform relatively complex data analysis from a desktop computer using spreadsheet analysis tools. 

10

Extraction & transfer

a database connection was established to connect to the accounting database system; then the selected data stored in the accounting system is extracted & imported into a spreadsheet, such as a data list

11

Analyse & visulaisation

analyse the data the put it in a visual form

12

Decision & action

make a decision ad then take action

13

The concept of business intelligence first introduced?

in 1958 by Hans Peter Luhn, an IBM researcher, who defined intelligence as "the ablity to apprehend the interrelationship of presented facts in suc a way as to guide action towards a desired goal" (Luhn, 1958)

14

In 2009, Gartner Group predicted? 

"Through 2012, more than 35% of the top 5,000 global companies will regularly fail to make insightful decisions about significant changes in their business & markets" (Gartner Business Intelligence Summit, 2009)

15

Accounting Intelligence

a specialised type of business intelligence. The use of accounting data to make more intelligent decisions or a tool used to extract accounting data from the operational database for BI applications

16

Informatics

a term more widely used in Europe to refer to the use of information technology to solve problems. Business informatics focuses on how to use information technology to solve business problems. 

17

SAP & Microsoft

worked collaboratively to develop Duet, a product that extracts data from the SAP R3 relational database & transfers the data into Excel

18

Shadow data advantages

it bypasses rigorous T software engineering, it is quicker to build & implement. The end-user accountant does not have to wait on IT staff to design, develop, build, & deliver the application 

19

Shadow data disadvantages

it bypasses rigurous IT software engineering, there is minimal testing, documentation & security

20

Where should time be delegated?

80% of time & resources should be invested in the accounting system design & 20% should be invested in maintenance of the system