DATA FOR ANALYTICS

-
Data for Analytics

            Business analytics uses data from three sources for construction of the business model. It uses business data such as annual reports, financial ratios, marketing research, etc. It uses the database which contains various computer files and information coming from data analysis.

            Data analytics refers to qualitative and quantitative techniques and processes used to enhance productivity and business gain. Data is extracted and categorized to identify and analyze behavioral data and patterns, and techniques vary according to organizational requirements.

Data analytics is also known as data analysis.
            Big data analytics refers to the process of collecting, organizing and analyzing large sets of data (“big data”) to discover patterns and other useful information. Not only will big data analytics help one to understand the information contained within the data, but it will also help identify the data that is most important to the business and future business decisions. Big data analysts basically want the knowledge that comes from analyzing the data.

Types of Data Measurement Scales

  1. Categorical (Nominal) Data: Nominal scale represents the most elementary level of measurement. A nominal scale assigns a value to an object for identification or classification purposes. The value can be, but does not have to be, a number because no quantities are being represented. In this sense, a nominal scale is truly a qualitative scale. Nominal scales are extremely useful even though they can. be considered elementary. Marketing researchers use nominal scales quite often. Nominal scaling is arbitrary in the sense that each label can be assigned to any of the categories without introducing error.

    2.
  2. Ordinal Data: Ordinal scales have nominal properties, but they also allow things to be arranged based on how much of some concept they possess. In other words, an ordinal scale is a ranking scale. The ordinal scale indicates the relative position of two or more objects or some characteristics. The consumers are asked to rank preferences for several brands, flavours or package designs. The measures of such preference are ordinal in nature.
  3. Interval Data: The interval scale has all characteristics of the ordinal scale and in addition, the units of measure or intervals between successive positions are equal.
  4. Ratio Data: Ratio scales represent the highest form of measurement. They have all the properties of interval scales with the additional attribute of representing absolute quantities. Interval scales represent only relative meaning, whereas ratio scales represent absolute meaning. In other words, ratio scales provide iconic measurement. Zero, therefore has meaning in that it represents an absence of some concept.

Comments

Post a Comment

Popular posts from this blog

Chemical test for Tragacanth

-
Chemical test for Tragacanth Organoleptic test: Appearance: Crystalline                                                          tragacanth Colour: White or faint yellow                                                 tragacanth Odour: None                                                                           tragacanth Taste: Mucilaginous                                                                tragacanth Solubility: Insoluble in alcohol, partially soluble in water      tragacanth Chemical test: SI.No. Test Observation Inference 1. To 4ml of 0.5%w/v solution add  0.5ml of HCl and heat for 30minutes on water bath Divide the hydrolyzed product in 2 parts a)       1 st part=Add 1.5ml of NaOH solution to neutralize and add Fehling’s solution A and B in equal quantities(mixed before) and warm over water bath. b)       2 nd part= Add barium chloride solution Red ppt o
Read more

MINOR DISORDERS OF NEW BORN AND ITS MANAGEMENT - NURSING ASSIGNMENT

-
INTRODUCTION         Neonatal health problems are frequently found ranging from minor physical or physiological peculiarities to the serious life threatening illnesses. Minor problems should not be ignored lightly without adequate assessment of the conditions. Early diagnosis and management of the serious problems help to overcome life long disability and to reduce neonatal morbidity and mortality. Nurses are responsible to manage the minor problems and to detect the serious problems for early and prompt management along with appropriate nursing interventions and support to the mother. MINOR DISORDERS OF NEW BORN 1. VOMITING         Vomiting is one of the common manifestations in the neonates. Regurgitation after feeds should not be confused with vomiting. Mucus vomiting often hinged with blood is quite common soon after birth. It is due to irritation often gastric mucosa by the swallowed materials during birth. Causes: ·         Dietic ·         Over feeding
Read more

KANGAROO CARE - NURSING ASSIGNMENT

-
INTRODUCTION         Caring low birth weight baby is a great challenge for the neonatal care unit and the family. Number of low birth weighs baby is still for beyond the expected target in our country. The cost of the quality management of these babies is increasing day by day. Kangaroo care is low cost approach for the care of low birth weight baby. This method of care was introduced and popularized by Dr.Edger Ray, Dr.Martinez and Dr.Charpak in late 1970s. DEFINITION         Kangaroo Mother Care (KMC) is a special way of caring low birth weight infants by skin to skin contact if promotes their health and welling by effective thermal control, breast feeding and bonding. KMC is initiated in hospital and continued at home. COMPONENTS OF KMC         In KMC, the infant is continuously kept in skin contact by the mother and breastfed exclusively to the utmost extent.         The two components of KMC are; 1.    Skin to skin contact is provi
Read more