This document outlines a framework for applying data in decision making. It discusses data collection methods like surveys, experiments and observations. It emphasizes storing data reliably in folders organized by type and activity. The document details analyzing data through descriptive statistics, tables and graphs to make inferences. Performance is reported by comparing current, previous and year-to-date results and describing variations.
3. INTRODUCTION
• Data is a set of values of qualitative or
quantitative variables.
• Data is a collection of facts, such as
numbers, words, measurements,
observations or even just descriptions of
things.
• Data and Information are often used
interchangeably
• However, Information is the meaningful
well processed data
4. Introduction. .
• Data is mainly used for :-
Quick decision making
Improving performance
Gaining competitive/Negotiation
advantage
Forecasting/Predicting
Innovation
Sustainable Competitive
5. DATA COLLECTION METHODS
• Direct inquiry from individuals or
organizations
• Conducting experiments
• Conducting surveys
• Direct observations
6. STORAGE OF DATA
• Storage of Data should be grouped into
their types and/or nature of activities
• There are Qualitative and Quantitative
Data
• Data should be represented by
Variables
• Data should be stored in Reliable
FOLDERS; hardcopies or/and softcopies
• Access of stored data should be
8. ANALYZED DATA in Performance
REPORTING
• Compare results progress for three
periods (Quantitatively or Qualitatively)
Current period
Similar previous period
Year To Date (YTD) or Prior period
• Describe/comment briefly the reason
for variations
• Be consistent in comparison method
and commentaries
