Differentiate Between Data and Information

Overview

1. Chapter 3 - How does fuzzy match work? Give an accounting situation where it might be most useful.
2. How might the data reduction approach be used in auditing?
3. Chapter 4- The text mentions, “If your data analysis project is more declarative than exploratory, it is more likely that you will perform your data visualization to communicate results in Excel.” In your opinion, why is this true?
4. Which type of chart is useful for showing 'extreme observations and outliers'? In what situations would it be important to communicate these types of data to a reader? Any particular accounts on the balance sheet or income statement?