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02.introduction, Importance, Fundamental Aspects
02.introduction, Importance, Fundamental Aspects
02.introduction, Importance, Fundamental Aspects
(FDA)
Introduction to the course,
Importance
and
Fundamental Aspects
Why the course is important to me?
In today’s world, decisions taken based on the results of data analysis has more
value. I want to be one among those decision makers.
I wish to understand the situations completely and also find the latent
information.
I am into one of the teams that deals with projects on analytics for clients.
I want to forecast the demand, price, sales etc.
I want to evaluate the performance of my employees.
I was given the responsibility of comparing two ERP software and give the
detailed report.
I wish to know whether the training programme is effective or not?
Are the variables considered significantly correlated?
The results of the market research have to be presented in a precise manner.
Are the statements made by the finance team on current budget true?
Session Learning Objectives (SLO)
To learn
What is statistics as branch?
What is statistics as measurement tools?
What is statistics as numbers?
What a sample and population are?
Difference between a sample survey and the census survey.
Descriptive statistics.
Inferential statistics.
Types of Study-Cross sectional and Time series.
Types of data and variables-Qualitative and Quantitative.
Measuring the variables-Scaling (Nominal, Ordinal, Interval, and Ratio).
Statistics
Data Set
Types of Data: Categorical and Quantitative Data
Data
Categorical Quantitative
Time Requirement
• Searching for information can be time consuming.
• Information may no longer be useful by the time it
is available.
Cost of Acquisition
• Organizations often charge for information even
when it is not their primary business activity.
Data Errors
• Using any data that happen to be available or were
acquired with little care can lead to misleading
information.
Example 1
Thank you