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Types of data by kamran khan

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Types of data by kamran khan

  1. 1. By Kamran Khan & yumna
  2. 2.  Data: Originally collected observation (from which conclusion may be drawn) are collectively called data
  3. 3. Types of Data There are four types of data: 1. Time series 2. Cross-section 3. pooled (i.e., combination of time series and cross-section) data. 4. Panel a special type of pooled data in which the same cross-sectional unit is surveyed over time.
  4. 4. A time series is a set of observations on the values that a variable takes at different times. It is collected at regular time intervals, such as daily, weekly, monthly quarterly, annually, that is, every 5 years (e.g., the census of population),
  5. 5. 2)Cross-Section Data. Cross-section data are data on one or more variables collected at the same point in time, such as the census of population conducted by the Census Bureau every 10 years.
  6. 6. 3) Pooled Data. In pooled, or combined, data are elements of both time series and cross-section data. 4) Panel, Longitudinal, or Micro panel Data. This is a special type of pooled data in which the same cross-sectional unit (say, a family or a firm) is surveyed over time.
  7. 7.  If we have a cross section data collected from the "same sample" with "an identification code" such that we can follow changes of a given respondent over time, it is called a data panel. It carries characteristics of both cross section and time series.  An example would help. Suppose we have collected dropout data from a set of same schools (say from 100 schools) for 5 years time with unique school identification code for all the years, we call it a school (panel).  we can use this data to compare dropout pattern between schools (cross section). we can also analyses the changes of dropout pattern over time for individual schools or for the entire sample (Time series).  There are separate econometric techniques to deal with panel data, Fixed effect models and random effect models are popular.
  8. 8.  if your degree of measurement is one day, then your life for today is cross-sectional data . your life for past ten days is time series data. And life of many persons including you your family over past ten days is panel data.

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