Colorado State University Global Campus Big Four Data Discussion – Assignment Help

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Read Example 1 and explain your take away. Add additional information. Your document should include minimum 200 words plus credible references.

Example 1:

The purpose of using charts, maps, or diagrams in presenting data or data analysis is to make the results easy for the user to absorb and understand without having to re-create the same analysis. These illustrative aids are best used when there is a large amount of data to consume and the data itself does not lend itself to being easy to interpret or understand by merely presenting it to the user. As stated, the use of charts, maps, and diagrams can be used to show relationships, proportions, timelines, and analytical conclusions much easier than trying to describe them verbally.

Question #1: What type of chart would you use to show which accounting firm dominates in each state in terms of audit revenues?

For this discussion, the ‘Big 4’ accounting firms are purported to dominate the international accounting and auditing markets. In order to express visually which firm has the largest market share in each of the 50 United States, a symbol map would be a great tool. A symbol map is usually used to represent qualitative data over a geographic area. For this assignment, a map of the United States with each of the state lines indicated on the map would be an easy way to demonstrate the data’s parameters. People are familiar with the map of the United States and generally where each of the states is located. Once the map is established, a color-coded legend showing each of the accounting firms with a designated color would be displayed below the map. Each of the states that one of the accounting firms has the majority of market share could then be colored in with the company’s corresponding legend color. This set up would give the consumer of the data a quick and easily understandable presentation of the data and the results after analyzing the market share data.

A sample Symbol Map is attached below with four colors hypothetically representing market share for each of the Big Four:

Map_of_United_States_vivid_colors_shown.png

Reference

Richardson, V., Teeter, R., & Terrell, K. (2018). Data Analytics for Accounting (1st ed.). New York, NY: McGraw-Hill.

Wikipedia. (2020). 4 Color Map Coloring Theorem submission. Retrieved from:

https://en.wikipedia.org/wiki/Map_coloring#/media/File:Map_of_United_States_vivid_colors_shown.png (Links to an external site.)

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