What Is Advanced Analytics

question 297

Multiple Choice

What is advanced analytics?

• A)a collection of large, complex data sets, including structured and unstructured data, which cannot be analyzed using traditional database methods and tools
• B)processes and manages algorithms across many machines in a computing environment
• C)focuses on forecasting future trends and producing insights using sophisticated quantitative methods, including statistics, descriptive and predictive data mining, simulation, and optimization
• D)extracts knowledge from data by performing statistical analysis, data mining, and advanced analytics on big data to identify trends, market changes, and other relevant information

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Definitions:

Probable Loss

A loss in financial terms that is likely to occur based on current information and judgment.

Reasonably Possible

A term used in accounting to describe a condition that could occur, affecting financial decisions or disclosures, based on current knowledge and events.

Note Disclosure

Additional information provided in a company's financial statements, explaining the numbers presented in the statements for clarity and completeness.

Contingent Liability

A potential financial obligation that may arise in the future, depending on the outcome of a certain event.