The Process of Turning Large Amounts of Raw Data into Information

question 97

True/False

The process of turning large amounts of raw data into information that may lead to business advantages is data mining.

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Definitions:

Units-of-Activity Method

A depreciation method that calculates an asset's expense based on its usage, activities, or units of production, rather than the passage of time.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Estimated Residual Value

The anticipated value of an asset at the end of its useful life.

Computer Costing

Computer costing involves the use of software and systems to calculate the expenses involved in producing a product or delivering a service.