ACC200 Ch7 Set 2

Question 1

Data extraction & transfer

Answer 1

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

Question 2

Data analysis

Answer 2

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

Question 3

Data visualisation

Answer 3

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

Question 4

Digital dashboard

Answer 4

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

Question 5

Shadow data storage

Answer 5

may be scattered throughout an organisation

Question 6

Shadow data

Answer 6

Fig 7.9 pg268

Question 7

Shadow data extraction & transfer

Answer 7

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

Question 8

Open database connectivity (ODBC)

Answer 8

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

Question 9

Shadow data spreadsheet analysis tools

Answer 9

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.

Question 10

Extraction & transfer

Answer 10

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

Question 11

Analyse & visulaisation

Answer 11

analyse the data the put it in a visual form

Question 12

Decision & action

Answer 12

make a decision ad then take action

Question 13

The concept of business intelligence first introduced?

Answer 13

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)

Question 14

In 2009, Gartner Group predicted?

Answer 14

“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)

Question 15

Accounting Intelligence

Answer 15

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

Question 16

Informatics

Answer 16

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.

Question 17

SAP & Microsoft

Answer 17

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

Question 18

Shadow data advantages

Answer 18

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

Question 19

Shadow data disadvantages

Answer 19

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

Question 20

Where should time be delegated?

Answer 20

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