Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making.
The process of evaluating datausing analytical and logical reasoning to examine each component of the data provided. This form of analysis is just one of the many steps that must be completed when conducting a researchexperiment. Data from various sources is gathered, reviewed, and then analyzed to form some sort of finding or conclusion. There are a variety of specific data analysis method, some of which include data mining, text analytics, business intelligence, and data visualizations.
Success not only depends on how you run your company. Social and economic factors are crucial for your accomplishments as well. Predictive analytics, fueled by Big Data allows you to scan and analyze newspaper reports or social media feeds so that you permanently keep up to speed on the latest developments in your industry and its environment. Detailed health-tests on your suppliers and customers are another goodie that comes with Big Data. This will allow you to take action when one of them is in risk of defaulting.
The level of interest in advanced data analytics is increasing as more and more companies that have built data warehouses look to expand the business intelligence process internally in order to get more value from their BI systems. But it isn’t easy to make the leap from using basic reporting and query tools to deploying and taking full advantage of data analytics software.
Qualitative research is a general term pertaining to investigative methodologies and techniques described as naturalistic, ethnographic, field, anthropological or observer research. This type of research gives emphasis on the value of looking on variables in their natural setting where they are commonly found. Comprehensive data is collected by open-ended questions providing direct quotations. The interviewer plays a vital role in the investigation.
Qualitative research is now being utilized in different fields or area of discipline. This is typically used by researchers in gathering data. This type of research includes the experiences of researchers through techniques like case studies, interviews, personal observations and focus groups. There are instances that qualitative research method is being criticized by some. Before making your own justifications, it would be best to weigh the advantages and disadvantages of qualitative research.
Qualitative research makes it easy for researcher to gain clearer understanding about the targeted market for the reason that the types of questions asked during the process starts with “Why”. This is more powerful an easy to deal with than those questions that focus on what, when and how much. With clearer understanding, researchers can reach out to people even more. Since this type requires smaller scales, low cost is therefore another advantage.
Quantitative research allows the researcher to measure and analyze data. The relationship between an independent and dependent variable is studied in detail. This is advantageous because the researcher is more objective about the findings of the research. Quantitative research can be used to test hypotheses in experiments because of its ability to measure data using statistics.
Both qualitative and quantitative research are used in studies throughout many disciplines, including science and the social sciences. Qualitative research is concerned with complete and detailed descriptions of events, whereas quantitative research creates statistical models to explain events. Qualitative and quantitative research have several advantages and disadvantages, depending upon the researcher’s aim and area of focus.