Saturday, January 15, 2011

Data Analysis 101

Data Analysis:
(a.k.a Statistics)

Data Analysis is the organization and representation of information. Information can be represented in a bar chart, graph, pie chart or table. 

Real-world examples/usage:
  • Banks and stock markets use graphs to track the progress of stocks and other investments.
  • Companies, shops and businesspeople use bar charts and/or graphs to track the progress of sales of their product/products.
  • Schools, institutions and teachers use pie charts, bar charts and graphs to track statistics within the school such as examination results and student heights and weights.
Who uses it?
  • Banks and stock markets
  • Companies, shops and businesspeople
  • Schools, institutions and teachers
  • Engineers and scientists
  • Individuals (to track their expenses, etc.)
Why is it used?
Data analysis is used because it is an easy way to track the progress of something or compare statistics.

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