Techniques to effectively analyse data for business purposes
Manipulating the data collected will make it easier to interpret the information.
Representative values:
It is important to be able to see patterns in the data and using representative values allows you to do this.
The mean can be calculated by dividing the total of the data by the number of values.
The median can be found by putting the data in order and seeing which number appears in the middle.
The mode is the value that appears most often in the data.
Exercise
Using the data series below, select the correct answer
2, 5, 9, 7, 2, 4, 1, 5, 8, 10, 2
More information can be found here:
There are a number of computer software programs that can manipulate data and calculate the frequency of a piece of data, which is the number of times a data point appears. Examples include Excel, SPSS, Tableau and Nvivo.