Page 445 - ITGC_Audit Guides

predictive analytics – The process of attempting to predict the future based on the analysis of
data about past events. The process can use multiple techniques to create the predictions
(e.g., data mining, statistics, modeling, and machine learning).

radio frequency ID (RFID) – Small devices that contain an antenna and use electromagnetic
fields to tag and track items and transmit information to devices capable of reading their
signals.
risk* – The possibility of an event occurring that will have an impact on the achievement of
objectives. Risk is measured in terms of impact and likelihood.

risk management* – A process to identify, assess, manage, and control potential events or
situations to provide reasonable assurance regarding the achievement of the organization’s
objectives.

scalability – The ability of systems to change size to accommodate changes in processing
demand.
service level agreement (SLA) – A documented agreement between a service or products
provider and the organization that describes the minimum performance objectives, the
mechanism to measure performance, and the consequences for missing performance goals.

streaming data – Data that is generated continuously by thousands of data sources, which
typically send in the data records simultaneously.
9
structured data – Historically, the majority of data stored within organizations was structured
and maintained within relational — or even legacy hierarchical or flat-file — databases.
Structured data is organized and allows for repeatable queries, as much of this data is
maintained in relational tables. It is often easier to control than unstructured data, due to
defined ownership and vendor-supported database solutions.

system of record (SOR) – The authoritative source for a particular data element.

unstructured data – This data, which is growing and becoming more common within
organizations, is not confined to traditional data structures or constraints. It is typically
more difficult to manage, due to its evolving and unpredictable nature, and it is usually
sourced from large, disparate, and often external data sources. Consequently, new solutions
have been developed to manage and analyze this data.

9 https://aws.amazon.com/streaming-data/

26 — theiia.org