Analysis Of Data

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Data Collection ensures that data gathered is accurate such that the related decisions are valid.

Data Collection provides both a baseline to measure and a target to improve.

Specific variables regarding a population (e.g., Age and Income) may be specified and obtained. Data Collection is the process of gathering information on targeted variables identified as data requirements.

The emphasis is on ensuring accurate and honest collection of data.

The results of the data analysis are to be reported in a format as required by the users to support their decisions and further action.

The feedback from the users might result in additional analysis.

For example, while cleaning the financial data, certain totals might be compared against reliable published numbers or defined thresholds.

Likewise, quantitative data methods can be used for outlier detection that would be subsequently excluded in analysis.

What is the first thing that comes to mind when we see data?

The first instinct is to find patterns, connections, and relationships. Similarly, in research, once data is collected, the next step is to get insights from it.

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