Measuring Customer Response
After emphasizing on customer response and its advantages it is also important to know how to measure these responses and what can be achieved after accurate measurement. For this it is necessary for an organization to incorporate following performance indicators: Productive Performance Indicator- The productive performance indicator determines the number of customer orders processed per […]
PESTLE Analysis of Samsung
Introduction Samsung is a global conglomerate that operates in the “White Goods” market or the market for consumer appliances and gadgets. The company that is a South Korean family owned business has global aspirations and as the recent expansion into newer markets has shown, Samsung is not content with operating in some markets in the […]
How Contemporary Corporate Philanthropy Works and Its Impact on Societies
The Why and How of Corporate Philanthropy Corporate and business leaders often have humanitarian urges and instincts to help society after they have achieved a certain amount of success in their professional careers and fulfillment in their personal lives. Indeed, most corporate and business leaders once they have become legends often have an attitude of […]
The Need to Keep Journalism Free from Paid Public Relations
The Media is an Extension of Big Business Now In recent years, the concept of paid news and advertorials that are a combination of editorials and advertisements have become commonplace around the world. While the media always had a cozy relationship with the advertisers because both depend on each other for sustenance, the recent trends […]
Understanding the Power of Feedback and Content on Social Network
Social Web is of the people, by the people and for the people. It is the freedom of expression and freedom of publishing, creating and sharing content using text, audio and visual media that powers the Social Media Networks. There are millions of social networks and the numbers are only growing. For the first time, […]
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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