Data Analytics - Preliminary Steps
Since the sampling data collected is normally huge, it has to be formatted into numbers that can be comprehended. Editing is also done to weed out possible errors. A form of coding can then be structured so that it makes it easier to be presented for further discussion and analysis. Finally, the data is tabulated to count the number of samples belonging to various categories. Tabulation is then made.
Cross tabulations, which represent contingency tabs, treats two or more variables simultaneously. Because variables are in two-dimensional tables, cross tabbing of not more than two variables is utilized.
Cross tabulation is the most favored data analysis method utilized. However, other methods may also be used to cross check on errors. Cross tabbing technique divides the samples into sub-groups to show how the dependent variable varies from one subgroup to another. Another variable can be introduced to uncover a relationship that initially was not suspected.
Big Data Analytics
It has become the in thing to tap on the vast resources that is big data. Most of these data is now sitting in various silos in the enterprise doing nothing. Scientist have begun to design programs to better collate both unstructured and structured data and putting them into a single structure so that they can be better utilized. It is becoming current for these enterprises to analyze these data as it will give a better insight into the market conditions. One benefit is that we can make faster decisions because we can tap into real time happenings. Making corporate decisions used to take ages because data is not easily available. Big Data Analytics has revolutionized the way we do business. Predicting what is going to happen will help corporate chiefs to better compete in this fast moving world.
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