As Volumes of Big Data Arrive from Multiple Sources Such

question 70

Short Answer

As volumes of Big Data arrive from multiple sources such as sensors, machines, social media, and clickstream interactions, the first step is to ________ all the data reliably and cost effectively.

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Definitions:

Standard Cost

A predicated cost for a product or service, under normal conditions, used for budgeting and performance evaluations.

Materials Price Variance

The variance between the real expense of direct materials utilized in manufacturing and the projected standard expense for those materials.

Direct Materials Purchased

Raw materials bought that are directly used in the manufacturing of products.

Variable Manuf. Overhead

Costs that vary with the level of production, such as indirect materials and utilities used in manufacturing.