What Are the Five Vs of Big Data? Give an Example

question 12

Essay

What are the five Vs of big data? Give an example of each and explain why it is important that organisations be able to manage, process and analyse the five Vs of big data.

Assess the impact of estimated activity level on the spread of fixed costs and the costing of unused capacity.

Identify the factors that influence the selection of a base for assigning overhead costs.

Analyze the effects of actual overhead and labor hours differing from estimated amounts on the application of manufacturing overhead.

Compute total manufacturing cost and cost of goods sold for specific jobs under a job-order costing system.

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Definitions:

Behavior

Actions or reactions of an individual or group in response to external or internal stimuli.

Remittitur

A court-ordered reduction of an excessive jury verdict in a civil case.

Trial Court

The court where a case is initially tried, involving presentation of evidence and witness testimony before a judge or jury for a verdict.

Prima Facie

Latin for 'at first sight,' it refers to evidence or facts that are sufficient to prove a case or establish a claim unless disproven by other evidence.