Chapter 1 Summary

Chapter 1 serves as an orientation for students. It introduces the concept of data analytics in accounting, its historical context, and its importance in the modern business landscape. The chapter outlines the learning objectives, which include understanding data analytics, its relevance to accounting students, and the structure of the textbook.

The chapter provides an overview of different types of analytics (descriptive, diagnostic, predictive, and prescriptive) and their applications in decision-making. It emphasizes the importance of data analytics skills for accounting students in the current competitive business environment. The textbook is structured around the CRISP-DM (Cross Industry Standard Process for Data Mining) framework, which includes steps like business understanding, data preparation, modeling, evaluation, and deployment.

The document also introduces Alteryx, the data analytics software that will be used throughout the course. It outlines the textbook's structure, which includes concept introduction, application of tools to case-based problems, and communication of findings. The chapter concludes with information about assignments and a preview of the next chapter, emphasizing the importance of advance preparation, including obtaining an Alteryx license and completing recommended video tutorials.