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

Which statement best describes data science as applied to business decision-making?

Data science is an interdisciplinary field combining statistics, computing and domain knowledge to extract insights from data, so that businesses can make better decisions. It goes beyond bookkeeping, legal record keeping or simple spreadsheet arithmetic.

  1. AAn interdisciplinary field that combines statistics, computing and domain knowledge to extract insights from data for decisionsCorrect
  2. BThe manual recording of transactions in the books of account
  3. CA branch of law that governs the storage of company records
  4. DThe use of spreadsheets only for arithmetic totals

Explanation

Data science blends statistics, programming and business domain knowledge to turn raw data into insight that supports decisions. Bookkeeping, legal record rules and simple spreadsheet totals do not capture this multidisciplinary, insight-driven scope.

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