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Subject P2: Advanced Management Accounting

CHAPTER 14 – COLLECTING AND USING INFORMATION

14.1 Statements (ii) and (v) are correct.

Option 1 is wrong. Big Data can be stored in a huge range of formats. Option 3
is wrong. There may be many relationships which hold true but provide no
useful information for an organisation. Option 4 is wrong. Whilst the term
Big Data is often used to refer to volumes of data in excess of one petabyte the
term does not actually refer to a specific quantity of data.

Big Data is drawn from a vast array of sources and so there is an almost
inevitable risk that some data will conflict or be inaccurate so Option 2 is
correct. Big Data is now streaming at an almost constant rate and current
processing servers are unable to cope so Option 5 is correct.

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