Technology

Question 1

Cloud accounting
benefits

Answer 1

-Reduces human error
-Access real time data
-cost effective, cheaper than hiring in house accountants
-Backups are carried out automatically

Question 2

Disadvantages of cloud accounting

Answer 2

-Reliant on strong internet connection
-security is dependant on the provider
-provider could make it difficult to move to other providers in the future

Question 3

What is Data Analytics

Answer 3

Data analytics is the process of examining large sets of data to find patterns, trends, and useful information to help businesses make better decisions.

Question 4

Data Analytics Benefits

Answer 4

Identifies trends and patterns – Helps forecast future performance.
Reduces risk – Highlights potential issues before they become problems
Better decision making

Question 5

Disadvantages of Data Analytics

Answer 5

Requires specialist skills – Not all staff may understand how to use it effectively.
High setup costs – Software and training can be expensive.
Data quality issues – Poor data = poor decisions.

Question 6

AI Benefits

Question 7

Disadvantages of AI

Question 8

Data Visualisation benefits

Question 9

Data Visualisation Disadvantages