Business Analytics and Emerging Trends - Artikel Z - Smart computing
12 important questions on Business Analytics and Emerging Trends - Artikel Z - Smart computing
What are the 5 A's of smart computing?
- Awareness
- Analysis
- Alternatives
- Actions
- Auditability
Where does Awareness, analysis and alternatives stand for in smart computing?
- Data entry through sensors instead of keyboard entry
- Analytics is need to analyze data and find anomalies
- Decisions based on analysis can result in alternatives
Where does Action and Auditability stand for in smart computing?
- Actions bring value and are immediatly required in a real-time economy
- Transparency in why decisions are made is essential
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What are the four names of Audit 1.0 to Audit 4.0 and what tools are used?
- Audit 1.0 - Manual audit (pencil and calculator)
- Audit 2.0 - IT audit (Excel, CAAT)
- Audit 3.0 - Big data in audit analytics (BA)
- Audit 4.0 - Semi- and progressive automation of audit (sensors, IoT, blockchain)
Name 3 principles how Industry 4.0 and Audit 4.0 relate to each other
- (I) Interoperability - (A) Data integration
- (I) Mirror World - (A) Real-time asset management
- (I) real-time capability - (A) CA/CM
What is the definition of continuous monitoring?
What are the advantages and disadvantages of CM/CA?
- Advantages: Using real-time data auditors can see small errors easily
- Disadvantages: it is costly to process data all the time and doesn't make sense to look only at current data, information is relevant with larger dataset
What are instruments for CA/CM?
- Continuous Data Assurance
- Continuous Control Monitoring
- Continuous Risk Management Auditing
- Compliance Monitoring
What types of data creation are there in smart computing?
- IoT sensor (very realiable, not always complete)
- Employee (quality depends on quality organization)
- External data (quality varies, usually requires transformation and cleansing)
What is data enrichtment?
What is a way to deal with exception overflow?
What are the four benefits of Information fusion?
- Systematic way of handling exceptions
- Empasis on combination of data
- More automation possibilities
- Solving anomaly overflow
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