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DATA & STATISTICS
• Data is individual pieces of factual information recorded and used for the purpose
of analysis. It is the raw information from which statistics are created.
• Statistics are the results of data analysis - its interpretation and presentation. In
other words some computation has taken place that provides some understanding
of what the data means. Statistics are often presented in the form of a table, chart,
or graph to provide better view of information.
Data Mining and Data Analyzing
Data Mining
• Exploration of data to get some result
• Trial and error
• Uncertainty
Data Analyzing
• Objective
• Measurement
• Test to be applied
Data & Variables
Data refers to a set of values,
which are usually organized by
variables and observational units
and Variables are of different
types and can be classified in
many ways.
Numerical and Categorical.
Variable
• A variable is defined as
anything that has a quantity
or quality that varies.
• A variable is an attribute
that describes a person,
place, thing or idea.
• It may change from group
to group, person to person,
or even within one person.
Types of Variables
Quantitative/Metric/Numerical
• It deals with numbers and things
you can measure objectively:
dimensions such as height, width,
and length. Temperature and
humidity. Prices. Area and
volume.
Qualitative/Non-Metric/Categorical
• It deals with characteristics and
descriptors that can't be easily
measured, but can be observed
subjectively—such as smells, tastes,
textures, attractiveness, and color.
Quantitative Variables
Discrete
• It is a count that can't be made
more precise. Typically it involves
integers. For instance, the number
of children (or adults, or pets) in
your family is discrete data,
because you are counting whole,
indivisible entities: you can't have
2.5 kids, or 1.3 pets.
Continuous
• It could be divided and reduced to
finer and finer levels. For example,
you can measure the height of your
kids at progressively more precise
scales—meters, centimeters,
millimeters, and beyond—so height is
continuous data.
Qualitative Variables
Nominal
• Nominal variable is defined as data
that is used for naming or labelling
variables, without any quantitative
value.
• Nominal data can be both qualitative
and quantitative. However, the
quantitative labels lack a numerical
value or relationship (e.g.,
identification number).
• Names of people, gender, and
nationality are just a few of the most
common examples of nominal
variables.
Ordinal
• In Ordinal variable the values follow a
natural order. One of the most notable
features of ordinal variable is that the
differences between the variable
values cannot be determined or are
meaningless.
• The Likert scale that you may find in
many surveys is one example. The
Likert scale lists the categories of the
psychometric scale such as “Strongly
Agree,” “Agree,” etc.
Ready for a quiz?
Scales
Nominal Scale
Ordinal Scale
Interval Scale
Ratio Scale
Scales of Measurement
How likely you will
recommend our
services to your
friends?
Very Likely
Likely
Neutral
Unlikely
Very Unlikely
A) Nominal
B) Ordinal
C) Interval
D) Ratio
What color
hair do you
have?
Brown
Black
White
Pink
A) Nominal
B) Ordinal
C) Interval
D) Ratio
What's your
age?
A) Nominal
B) Ordinal
C) Interval
D) Ratio
…………….
What's your
nationality?
American
Indian
German
Japanese
A) Nominal
B) Ordinal
C) Interval
D) Ratio
What's your
monthly income?
0 - 50000
50000 - 100000
100000 - 150000
150000 - 200000
A) Nominal
B) Ordinal
C) Interval
D) Ratio
THANKS

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Data analysis for business decisions

  • 1.
  • 2. DATA & STATISTICS • Data is individual pieces of factual information recorded and used for the purpose of analysis. It is the raw information from which statistics are created. • Statistics are the results of data analysis - its interpretation and presentation. In other words some computation has taken place that provides some understanding of what the data means. Statistics are often presented in the form of a table, chart, or graph to provide better view of information.
  • 3. Data Mining and Data Analyzing Data Mining • Exploration of data to get some result • Trial and error • Uncertainty Data Analyzing • Objective • Measurement • Test to be applied
  • 4. Data & Variables Data refers to a set of values, which are usually organized by variables and observational units and Variables are of different types and can be classified in many ways. Numerical and Categorical. Variable • A variable is defined as anything that has a quantity or quality that varies. • A variable is an attribute that describes a person, place, thing or idea. • It may change from group to group, person to person, or even within one person.
  • 5. Types of Variables Quantitative/Metric/Numerical • It deals with numbers and things you can measure objectively: dimensions such as height, width, and length. Temperature and humidity. Prices. Area and volume. Qualitative/Non-Metric/Categorical • It deals with characteristics and descriptors that can't be easily measured, but can be observed subjectively—such as smells, tastes, textures, attractiveness, and color.
  • 6. Quantitative Variables Discrete • It is a count that can't be made more precise. Typically it involves integers. For instance, the number of children (or adults, or pets) in your family is discrete data, because you are counting whole, indivisible entities: you can't have 2.5 kids, or 1.3 pets. Continuous • It could be divided and reduced to finer and finer levels. For example, you can measure the height of your kids at progressively more precise scales—meters, centimeters, millimeters, and beyond—so height is continuous data.
  • 7. Qualitative Variables Nominal • Nominal variable is defined as data that is used for naming or labelling variables, without any quantitative value. • Nominal data can be both qualitative and quantitative. However, the quantitative labels lack a numerical value or relationship (e.g., identification number). • Names of people, gender, and nationality are just a few of the most common examples of nominal variables. Ordinal • In Ordinal variable the values follow a natural order. One of the most notable features of ordinal variable is that the differences between the variable values cannot be determined or are meaningless. • The Likert scale that you may find in many surveys is one example. The Likert scale lists the categories of the psychometric scale such as “Strongly Agree,” “Agree,” etc.
  • 8. Ready for a quiz?
  • 9. Scales Nominal Scale Ordinal Scale Interval Scale Ratio Scale Scales of Measurement
  • 10. How likely you will recommend our services to your friends? Very Likely Likely Neutral Unlikely Very Unlikely A) Nominal B) Ordinal C) Interval D) Ratio
  • 11. What color hair do you have? Brown Black White Pink A) Nominal B) Ordinal C) Interval D) Ratio
  • 12. What's your age? A) Nominal B) Ordinal C) Interval D) Ratio …………….
  • 14. What's your monthly income? 0 - 50000 50000 - 100000 100000 - 150000 150000 - 200000 A) Nominal B) Ordinal C) Interval D) Ratio