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?

  1. Audit 1.0 - Manual audit (pencil and calculator)
  2. Audit 2.0 - IT audit (Excel, CAAT)
  3. Audit 3.0 - Big data in audit analytics (BA)
  4. 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?

Monitoring the auditing processes of firm from a management perspective, so it doesn't look at activities of the managers

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?

Adding meta-data to data, such as timestamps, authors, labels

What is a way to deal with exception overflow?

Information fusion, systematic approach to aggregating (clustering) exceptions

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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