Working with Data
The most important step in the data lifecycle.
What is identify or formulate the problem correctly.
Forms, Tables, Reports and Queries are examples of this in Access
What is an object.
Building operational efficiencies, increasing competitive intelligence, improving decision making, and improving manufacturing processes are all reasons for utilizing these.
What are reasons for utilizing analytics?
The type of analytic technique that would look at "what" things happened.
What is descriptive analytics?
The financial statement that you are likely to see sales expenses and profits/losses?
What is an income statement?
This is another term for biased or distorted data.
What is skewed data?
This is the data type used when creating a foreign key.
What is the lookup wizard?
This is used as the denominator (bottom number) when computing the YOY percentage change.
What are the previous year's results?
Another name for an anomaly often used in Diagnostic analytics.
What is a deviation from a standard or the norm?
Cash, accounts receivable, inventory and marketable securities would all be considered this.
What is a short term asset?
It is best to do this when designing reports or dashboards using data so that you can compare them over time.
What is consider the historical aspect of the report.
Using a team abbreviation of 3 to 4 characters for this when setting up a table in access is an good example of this.
What is a primary key?
The FIRST step when creating a report for a client/boss/customer.
What is determining the business metrics you want to report on.
The data used in diagnostic analytics that likely differs from that used in descriptive analytics.
What is external data?
A retailer such as Walmart or Target is likely to see big swings in sales due to this.
What is seasonality?
Data that is set up in rows and columns.
What is structured.
This is the view used for changing the structure of a database table.
What is design view?
You would use a YOY percentage change basis, a YOY change basis, an absolute basis, and a percentage basis to do this.
What is looking for sudden changes in data?
This is the purpose of predictive analytics.
Financial statement that you are likely to see assets, liabilities and equity
What is a balance sheet?
The domain that data storage would be a concern
What is computer science
An important reason to enforce referential integrity in access between tables is it prevents this.
What is an orphan record?
This is the type of analytics that is the most difficult but provides the most benefit.
What is prescriptive analytics?
There is a need for competitive differentiation, software is easier to use, computing power is getting faster and cheaper and there are more types and growing volumes of data are all reasons for this.
What is more organizations are using predictive analytics? (to increase their bottom line and grow their business)
This statement includes cash flows from operations, investing and financing.
What is a cash flow statement.