What is Customer Satisfaction ?
February 12, 2025
Companies all over the world use either fixed pricing or book building as a mechanism to price their shares. Over the period of time, the fixed price mechanism has become obsolete and book building has become the de-facto mechanism used in pricing shares while conducting an initial public offer (IPO). In this article, we will […]
Social responsibility is defined as the obligation and commitment of managers to take steps for protecting and improving society’s welfare along with protecting their own interest. The managers must have social responsibility because of the following reasons: Organizational Resources – An organization has a diverse pool of resources in form of men, money, competencies and […]
Irrespective of whether you are in the commercial sector or the not-for-profit sector you need to effectively manage your customers or constituents. In the matter of automation of this function there is hardly anything to match the dominance of Salesforce. The company, operating online through its website salesforce.com is pretty much the industry leader due […]
Companies that are responsible for the production and distribution of products have a lot on their plates. Every product has a particular lifecycle. In order for that lifecycle to last as long as possible, some considerations need to be made. A successful product manager is always vigilant in their efforts to do what’s best for […]
What are the United Nations Millennium Development Goals? The United Nations (UN) Millennium Development goals (MDGs) are a set of goals that were signed into an agreement with the member countries of the UN related to human development, eradication of poverty, providing access to basic services like food, shelter, and clean water to the underprivileged […]
After gathering the information from desk and field research the raw data must be compiled so that the taxonomic analysis can be performed and data can be broken up into respective parts and segments. This can be achieved in the following manner:
Normally big organizations have large data to be analyzed and the scale substantially goes to 10 or 12 digits. It can be reduced to a scale of 3 to 5 digits to reduce the complexity and time taken in analysis. But accuracy on the other hand will be reduced as the figures need to be rounded off in case the scale is reduced.
Data analysis and compilation also includes data cleaning strategy before the further analysis is performed. This cleaning is basically validating the data for any error or irrelevant data. It’s a separate process for data cleaning performed before the analysis which is very important to fetch desirable results. This process also includes determining the missing values and inputting the most appropriate values in place.
It is also important to maintain the quality of the analysis and compilation for which the ideal key is use reliable measurement techniques.
Data sampling is also one more distinguished approach to decrease probability of repetitive data elements. It includes creating subsets of information according to a specific variable value and managing them as a whole. More the data is relevant the more accurate the results are.
An organization must define all the objectives in accordance to market requirement. The results from the compilation and analysis of data and information are very important and significant for the organization and shows success factors. The result of the process also depicts the trend of the organization by determining weak and strong points and how they stand stood in the market. Hence, every organization should have an organized and sophisticated way of compiling and analyzing the information.
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