There are two methods of data analysis that a researcher can use;
Qualitative Research- This method does not involve the use of numbers. Characteristics are used to describe the data.
Quantitative research- This method purely deals with numbers. It is the opposite of qualitative analysis.
Data analysis can be broken down into four types:
- Descriptive analysis- it tends to describe what has happened over a period of time. For example how does the sales compare this month from last month? Has the number of units sold gone up?
- Diagnostic analysis- This type of analysis tries to find out the cause of an event or why it happened. Did the change of weather affect the sales of soft drinks? Did our marketing campaign strategy impact our sales?
- Predictive Analysis-It is a forecasting tool and tells the user the probability of some event happening.
- Prescriptive analysis- It provides a researcher with a course of action to be taken to counter an event. Like a soft drink company may want to increase their production in a hot summer to keep up with the high demand during that time
Data analysis can be very confusing and challenging because it requires the student to be proficient in the use and application of data analysis tools. They are also required to possess a set of skills in analysis such as;
- Have adequate knowledge in the types and categories of data
- Be able to analyse data and draw impressive conclusions from the data
- In depth knowledge in the various data collection techniques
- Analysis uses a large amount of data and students are required to be experts in applying various techniques to analyse the bulky data effectively
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