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SBL Technology and data analytics
8 ACCA Strategic Professional questions with answers and explanations.
Printable worksheet with answer key
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Analytics that answers the question 'what is likely to happen?' is called:
- 1 Prescriptive analytics
- 2 Diagnostic analytics
- 3 Predictive analytics
- 4 Descriptive analytics
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Correct answer: Predictive analytics
Predictive analytics uses data and models to forecast future outcomes. Descriptive analytics reports what has happened.
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The term 'big data' is usually characterised by:
- 1 Volume, velocity and variety
- 2 Privacy, security and access
- 3 Accuracy, brevity and clarity
- 4 Cost, quality and time
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Correct answer: Volume, velocity and variety
The three Vs are volume, velocity and variety, and veracity and value are often added.
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A major risk of using personal data for analytics is:
- 1 Too much accuracy
- 2 Higher storage cost only
- 3 Breach of data protection and privacy rules
- 4 The data is always free
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Correct answer: Breach of data protection and privacy rules
Use of personal data must comply with law and with ethical expectations, and breach brings fines and loss of trust.
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Which technology provides a shared, tamper resistant record of transactions across many participants?
- 1 An intranet
- 2 A firewall
- 3 A spreadsheet
- 4 Blockchain
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Correct answer: Blockchain
A blockchain is a distributed ledger in which entries are linked and hard to alter.
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A business replaces an on-premise system with software and storage rented over the internet. This is:
- 1 Robotic process automation
- 2 An extranet
- 3 Cloud computing
- 4 A data warehouse
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Correct answer: Cloud computing
Cloud computing gives access to scalable computing resources over the internet on a pay as you use basis.
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Robotic process automation is best suited to tasks that are:
- 1 Based on judgement alone
- 2 Creative and unstructured
- 3 Rule based, repetitive and structured
- 4 Strategic and unique
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Correct answer: Rule based, repetitive and structured
RPA mimics user actions in digital systems, and works where the rules are clear.
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A firm is considering a new system. Which factor is MOST relevant to the 'feasibility' of the project?
- 1 Whether the firm has the skills and funds to implement it
- 2 Whether competitors have one
- 3 Whether the system has a good name
- 4 Whether the supplier is large
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Correct answer: Whether the firm has the skills and funds to implement it
Feasibility concerns resources, skills, time and funding. Suitability is about fit with strategy.
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Poor quality input data is a problem for analytics because:
- 1 It has no effect if the model is good
- 2 It removes privacy risk
- 3 Output can be misleading, however sophisticated the model
- 4 It makes the software slower only
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Correct answer: Output can be misleading, however sophisticated the model
Garbage in, garbage out: models cannot repair unreliable data.