Scribd
Upload
107 views4 pages

Interpretation & Analysis of Data

Data analysis involves bringing order, structure and meaning to collected data through logical application of deductive and inductive reasoning. It requires a systematic process of comparing data to draw conclusions, seek alternative explanations, and enlighten. Both qualitative and quantitative analysis aim to avoid errors and make valid inferences through standardized processes, though they differ in precision of data and approach. Quantitative analysis uses numerical techniques to test hypotheses while qualitative analysis develops new concepts through interpretation of words.

Uploaded by

Priyanka Goyal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
107 views4 pages

Interpretation & Analysis of Data

Data analysis involves bringing order, structure and meaning to collected data through logical application of deductive and inductive reasoning. It requires a systematic process of comparing data to draw conclusions, seek alternative explanations, and enlighten. Both qualitative and quantitative analysis aim to avoid errors and make valid inferences through standardized processes, though they differ in precision of data and approach. Quantitative analysis uses numerical techniques to test hypotheses while qualitative analysis develops new concepts through interpretation of words.

Uploaded by

Priyanka Goyal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

data analysis as the process of bringing order, structure and meaning to the mass of collected data.

-it is
the activity of making sense of, interpreting and theorizing data that signifies a search for general
statements among categories of data. . Therefore one could infer that data analysis requires some sort
or form of logic applied to research. In this regard, it clearly posit that the analysis and interpretation of
data represent the application of deductive and inductive logic to the research. the essences of
capturing data well when they further add, that data are not given as a fixed, but are open to
reconfiguration and thus alternative ways of seeing, finding answers to questions one wishes to answer.

the analysis of qualitative methods must be systematic, sequential, verifiable and continuous. It
requires time, is jeopardised by delay, is a process of comparison, is improved by feedback,
seeks to enlighten and should entertain alternative explanations. As with qualitative methods for
data analysis, the purpose of conducting a quantitative study, is to produce findings, but whereas
qualitative methods use words (concepts, terms, symbols, etc.) to construct a framework for
communicating the essence of what the data reveal, procedures and techniques are used to
analyse data numerically, called quantitative methods. Following are the reasons why
the data analysis and interpretation are important:
1. Informed decision-making:
Data analysis and interpretation are instrumental in making informed
decisions, relying on data, applying methodical analysis techniques, and not
intuition or guessing. This requires a very systematic and structured data
collection process to be implemented.

2. Identification of trend and forecasting needs:


Data analysis offers insights that can predict and set trends that can
positively impact an industry level. When a lot of people started viewing web
series and movies on online platforms. The producers started making,
releasing more OTT content, and this trend picked up and has changed the
dynamics of the entertainment industry.

3. Cost-efficient:
One of the most important goals for any business apart from maximum
returns is to reduce costs. Data-driven informed decisions not only help in
improving business metrics but also in reducing costs, which is another
avenue of generating revenue. Predictive data analytics helps achieve this
objective by using response modeling, uplift response modeling, churn
modeling, churn uplift modeling, risk modeling, and fraud detection.

4. Clear Insights:
These processes allow organizations to get foresight in their performance and
processes. It enables the companies to know how customers view them and
their limitations and take actionable measures to improve their performance.

There are two types of analysis ie; qualitative and quantitative analyses are similar in four ways. Both
forms of data analysis involve:

 Inference - the use of reasoning to reach a conclusion based on evidence;

 A public method or process - revealing their study design in some way;

 Comparison as a central process – identification of patterns or aspects that are similar or different; and
 Striving to avoid errors, false conclusions and misleading inferences.

The core differences between qualitative and quantitative data:

Qualitative data analysis is less standardised with the wide variety in approaches to qualitative research
matched by the many approaches to data analysis, while quantitative researchers choose from a
specialised, standard set of data analysis techniques;

Qualitative researchers create new concepts and theory by blending together empirical and abstract
concepts, while quantitative researchers manipulate numbers in order to test a hypothesis with variable
constructs; and

Qualitative data analysis is in the form of words, which are relatively imprecise, diffuse and context
based, but quantitative researchers use the language of statistical relationships in analysis.

Analysis of qualitative data

Qualitative data analysis can be described as the process of making sense from research participants‟
views and opinions of situations, corresponding patterns, themes, categories and regular similarities.
When engaging in qualitative data analysis, the researcher not only wishes to highlight recurring
features, but also different steps, procedures and processes that are at the disposal of a researcher.

a typical qualitative analytical approach may include the following aspects:

 Coding or classifying field notes, observations or interview transcripts by either inferring from the
words being examined what is significant, or from the repeated use of words (phrases) whether a
pattern is developing (i.e. that all activities which have been recorded are being understood in a similar
way).

 Examining the afore said classifications to identify relationships between them; yet, concurrently
beginning the process of understanding those relationships in general terms, so that they have
credibility beyond the boundaries of the case being examined.

Making explicit these patterns, commonalities and differences – in brief, making sense of the data, and
taking these by now more developed theoretical constructs into the field to test or refine them.
Elaborating a set of generalisations, which suggest that certain relationships hold firm in the setting
being examined, and affirming that these cover all the known eventualities in the data set.

 Formalizing these theoretical constructs and making inferences from them to other cases in place and
time

The four levels of measurements include:


1. nominal data: basic classification data; lack logical order - e.g. male or
female
2. ordinal data: has logical order but lack constant differences between
values – e.g. Pizza size (large, medium, small)
3. interval data: has logical order, is continuous, has standardized
differences between values but lacks natural zero – e.g. Celsius
degrees
4. ratio data: has logical order, is continuous, has standardized
differences between values, and has a natural zero – e.g. height,
weight, age, length

The quantitative data interpretation technique is applicable for the


measurable or numerical type of data. The numerical data is of two types:

 Discrete: countable, finite quantities. Eg: the number of ice-creams


 Continuous: not countable.  Eg: height, weight, time, speed, humidity,
temperature
The numerical data is relatively easier to analyze using the statistical
modeling methods, including central tendency and dispersion measures.
These can be visually depicted via charts such as bar graphs, pie-chart, line
graphs, line charts. Tables are also used in representing complex information
dissecting into categories.

There are two most commonly used quantitative data analysis methods are:

 Descriptive Statistics: this field of statistics focuses on describing the


data, its features. It comprises of two categories: measures of central
tendency (mean, median, mode, and measures of dispersion or variability,
which tell how much spread is there in the data or the data varies.
 Inferential Statistics: this branch of statistics generalizes or infers how
the larger data is, its features based on the sample taken from this larger
data.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy