Data Analysis and Interpretation-

Research design: A plan which indicates the methods and procedures to be used for collecting the data
and data analysis.
7.2 Editing
Processing data is very important in market research. After collecting the data, the next job of
the researcher is to examine and interpret the data. The intention of the analysis is to draw
conclusions. There are two parts in processing the facts.
(1) Data analysis
(2) Interpretation of data

Analysis of the data involves organising the data in a particular manner. Interpretation of data is
a method of deriving conclusions from the data analysed. Analysis of data is not complete,
unless it is interpreted.
Steps in Processing of Data
1. Preparing raw data
2. Editing
3. Coding
4. Tabulating
5. Summarising the data
6. Usage of Arithmetic tools.

Just as the hammer does not create the bookshelf, so the data analysis and decision-making tools of
strategic planning do not make the organization work - they can only support the intuition, reasoning
skills, and judgment that people bring to their organization.
The DSS software system includes software tools for data analysis. They contain various OLAP tools, data
mining tools or a collection of mathematical and analytical models. A model can be a physical model, a
mathematical model or a verbal model. Most commonly used are the statistical functions such as
means, medians, deviations and scatter plots. Optimization models, such as linear programming, are
used to determine optimal resource allocation.
7.6 Summary
Lets recapitulate the key concepts discussed in this unit. They are:
a. Data when collected is raw in nature. When processed, it becomes information; without data
analysis, and interpretation, the researcher cannot draw any conclusion.
b. There are several steps in data processing such as editing, coding and tabulation. The main
idea of editing is to eliminate errors.
c. Editing can be done in the field or by sitting in the office.
d. Coding is done to enter the data to the computer. In other words, coding speeds up
tabulation.
e. Tabulation refers to placing data into different categories. Tabulation may be one way, two
ways or cross tabulation.
f. After tabulation, statistical tools such as mode, median, mean are used.
g. Lastly interpretation of the data is required to bring out meaning, or we can say data is
converted into information.
h. Interpretation can use either induction or deduction logic. While interpreting, certain
precautions are to be taken.

Stratification
Stratification is a technique used to group and separate data. By grouping
and separating data, it becomes easier to analyse and finds patterns in
data. For stratification purpose data can be grouped in any combination.
The following are some common categories used to group data:
Machine
Material
Location
Batch
Time
Operator shifts
Customers
Suppliers
Stratification is a technique used to identify special cause variations. By
evaluating patterns, variations can be identified.
Ideally, stratification should be considered prior to data collection. In
considering stratification, particular attention must be paid to the source of
data and how the source impacted the results of the data. Many times such
considerations are neglected until after the data has been collected. In
such cases, the meaning from the data might not be evident until data has
been stratified or grouped. Then, a pattern might emerge that would enable
data analyst to make sense of the data.
For example, consider a company that has collected data about its
defective parts using time as one of the variables. Such data might not
depict any understandable pattern. Let us further suppose that these data
have been collected from many different sources such as from different
locations, operator shifts, machine used etc. Now, if the data analysis team
were to apply stratification techniques and group data by their sources i.e.
machine, location, operator shifts etc., a definite pattern might emerge that
may help explain the defects.7
Analysis and interpretation are two closely related activities. Secondly, if one
portion of the task is not carried out efficiently, the success of the research
study is at stake. The core purpose of data analysis and interpretation is to
answer a vital question: Does the findings from this data relate to the
objectives and hypotheses of the study?
Data analysis: Cause and effect diagram, Pareto analysis,
correlation/interrelationship diagram.
Decision on data analysis approach with clear focus on the objective of the experiment.
Matrix data analysis: It is a statistics-based factor analysis technique.
The process takes data from matrix diagrams and then attempts to
arrange it quantitatively to display the degree of relationship among the
variables. For daily work, this technique is too quantitative hence,
prioritization matrix is preferred by some for simplifying the issue and to
apply in daily work.
Collecting data: Data collection is an important step from the viewpoint
of: (a) speed of data collection, (b) quality of data, and (c) cost of data.
Timely collection of most valuable and reliable data at the minimum cost
could be the most rhetoric expectation. Time is the most important factor
in long-term decision of strategic importance. Replacement decision
therefore, may hardly be viewed as very important. Secondary sources of
data save time but reduce reliability. Primary sources not only are expensive
but time-consuming also.
(vi) Analysis of data: Data analysis is an art of juxtapositioning useful data to
make sense out of it. Often use of charts, tables and diagrams and
application of analytical tools will be useful in understanding collected data.

The various stages of technology assessment process are as follows:
Technology
description
Identification of
Stakeholders
Purpose of
Assessment
Intended uses of
the assessment
Creation of
Assessment Plan
Gathering of
Data
Data
Analysis
Conclusion &
Recommendations
Reports
Figure 5.1 Stages of Technology Assessment

Gathering of data: In this step, data is gathered as per the assessment
plan. Data gathering comprises the indicators, sources of the data to be
gathered, methods to use, information quality and quantity, and the context
in which the data gathering is done.
7. Data analysis: In this step patterns are identified either by isolating the
significant findings or by combining information sources to reach a larger
understanding, and making decisions about the procedure to organize,
divide, interrelate, compare, and display information. We guide these
decisions through the questions being asked, the types of data existing,
and inputs from the stakeholders.
8. Conclusions and recommendations: After analysis, the conclusions and
recommendations are made wherever needed. Conclusions are related
to the proof gathered and verified against agreed-upon standards set by
stakeholders. Recommendations are made based on the conclusions.
9. Reporting results: In this step, the report of the assessment is made
while keeping in mind some factors, such as:
Target audience
Objectives of the study and its limitations
Strengths and weaknesses of the technology
Data analysis, reporting and query tools can help business users to dig through
a mine of data to synthesize valuable information from itthese tools collectively
fall into a category called business analytics.
The business analytics software market hit