Data Analytics Has Become a Very High-Demand Skill for Employees

Multiple Choice

Data analytics has become a very high-demand skill for employees regardless of their industry. The goal of decision makers gravitates towards the increase of data accessibility and usability with an overall goal of making more data-informed decisions. Within the cost accounting sphere, outcomes achieved are divided into four areas. Which of the following is an accurate description of one of these four areas?

A) Eliminating non-value-added activities: Use data analytics to create a plan to shut down one of the company's factories next year.
B) Performance evaluation: Use data analytics to gain insight into why a specific employee was absent last month.
C) Performance evaluation: Use data analytics to improve production forecasting.
D) Strategy formation: Use prescriptive analytics to create a plan for the future.