Types of Data
- Quantitative data: This type of data is expressed in numerical values and represents measurable quantities or attributes. For Example : age, height, temperature, or the number of items sold.
- Qualitative data: It is known as categorical or non-numerical data, qualitative data represents qualities or characteristics that cannot be measured numerically. It is typically expressed in descriptive or subjective terms. For Example: colors, names, opinions, or categories like gender or marital status.
Note : Discrete data is countable, Continuous data can be measured.
Take a look at the following illustration of a dog. The information is presented in both qualitative and quantitative formats.
Let’s look at more examples :
Qualitative:
- The first names that are frequently used in your local community. (Nominal)
- The temperature is low, medium, or high. (Ordinal)
Quantitative:
- Weight (Continuous)
- Height (Continuous)
- Flower Petals (Discrete)
- Customer in Shop (Discrete)
How to collect Data ?
Data collection is an essential process for businesses to make informed decisions and gain insights into their operations. In this section, we will explore some effective ways to collect data that will help businesses make better decisions or What is the importance of data in business?
Survey : One of the most common methods of collecting data is through surveys. Surveys can be conducted online or in-person and can provide valuable insights into customer preferences, satisfaction levels, and other important information.
Focus Groups: Another way to collect data is through focus groups. Focus groups involve bringing together a small group of people who represent your target audience and getting their opinions on a particular topic or product.
Sampling: Select a representative subset of a larger population to collect data more efficiently. This is commonly used when studying large populations where it is not feasible to collect data from every individual.
Social Media Tools : Lastly, businesses can collect data through analytics tools such as Google Analytics or social media monitoring tools. These tools track user behavior on websites and social media platforms, providing valuable information about user demographics and preferences.
By utilizing these methods of collection of data in statistics, businesses can gain a deeper understanding of their customers’ needs and preferences and make more informed decisions that drive growth and success.
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