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CMA Intermediate · Financial Management and Business Data Analytics · Introduction to Data Science for Business Decision-making

Which of the following best marks the evolution from traditional business reporting to modern data science?

The evolution runs from summarising past structured data in reports to using large and varied data sets, algorithms and machine learning to predict outcomes and recommend actions. It increases, rather than reduces, the role of statistics and unstructured data.

  1. AA move from summarising past data to using large data sets, algorithms and machine learning to predict and prescribeCorrect
  2. BA move from computers to paper ledgers
  3. CA decline in the use of statistics
  4. DA shift from analysing data to ignoring unstructured data

Explanation

Evolution has been from descriptive reports on structured data to advanced analytics using big data, algorithms and machine learning for prediction and recommendations. The other options reverse or deny this trend.

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