Data Analysis and Research Methodology

Data Analysis and Research Methodology
Background
Data analysis is a process used to inspect, clean, transform and remodel data with a view to reach to
a certain conclusion for a given situation. It helps in structuring the findings from different sources of
data. It is helpful in breaking a macro problem into micro parts. Data analysis acts like a filter when it
comes to acquiring meaningful insights out of huge data set. Added to this, it helps in keeping
human bias away from the research conclusion with the help of proper statistical treatment. The
type of data dictates the method of analysis. In qualitative research, any non-numerical data like text
or individual words are analysed. Quantitative analysis, on the other hand, focuses on measurement
of the data and can use statistics to help reveal results and conclusions. Data analysis has now taken
center stage with the advent of the digital age when there exists sheer amount of data, which can be
frightening. Data analysis and research are critical to develop sound conclusions and make better
informed decisions. There is an art and science to the analysis of data. Every kind of data has a rare
quality of describing things after assigning a specific value to it. For analysis, one needs to organize
these values, processed and presented in a given context, to make it useful. Data can be in different
forms and thus analysis can aid in adding value to data obtained in raw form.
Objectives:
The main objective of the programme is to enable the participants to enhance their data analysis
skills and equipping them with various approaches of research methodologies that will help them
hone their essential skills to be able to contribute effectively at work.
Other objectives include defining the methodology that is to be deployed. When discussing data
analysis, it is important to mention that a methodology to analyse data needs to be picked. if a
specific methodology is not selected data can neither be collected nor analysed. An effective
research methodology leads to better data collection and analysis and leads the researcher to arrive
at valid and logical conclusions in the research. Without a specific methodology, observations and
findings in a research cannot be made which means methodology is an essential part of a research or
dissertation. The main variants of research methodologies include: Exploratory Research and
Conclusive Research Methodologies
1. The objective of exploratory research is to provide insights and understanding, while

conclusive is to test specific hypothesis and examine relationships.
2. The characteristics of exploratory is that information is needed to be defined only loosely.
Research process is flexible and unstructured and analysis of primary data is qualitative and
the results is tentative. On the other hand, under conclusive research, information is needed
to be clearly defined and findings are used as input into decision making.
3. Conclusive Research Design is further divided into Descriptive and Causal Research. While
causal involves determination of cause and effect among the variables, Descriptive involves
comparison across time and cross-sectional variations in the variables under considerations.
Other objectives include:
1. Make sense of data, analyse it thoroughly and separate out important information from
humongous amount of data
2. Appreciate the importance of data and its analysis
3. Create greater shareholder value
4. Not miss out important information that the data might contain and fully utilize the data in
the process of decision making
Methodology:
The programme will be delivered through structured interaction, experimental group activities,
management games, field visits and lectures to ensure wholesome transfer of knowledge to develop
a need based action plan.
Learning Outcome and Impact:
On completion of the programme, participants will be better prepared to:
5. Informed decision-making: A decision is only as good as the knowledge that formed it.
Informed data decision making has the potential to set industry leaders apart from the rest
of the market pack.
6. Anticipating needs with trends identification: data insights provide knowledge, and
knowledge is power. The insights obtained from market and consumer data analyses have
the ability to set trends for peers within similar market segments
7. Cost efficiency: Proper implementation of data analysis processes can provide businesses
with profound cost advantages within their industries.
8. Clear foresight: companies that collect and analyze their data gain better knowledge about
themselves, their processes and performance. They can identify performance challenges
when they arise and take action to overcome them. Data interpretation through visual
representations lets them process their findings faster and make better-informed decisions
on the future of the company.

Data Analysis and Research Methodology

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Data Analysis and Research Methodology

1. The objective of exploratory research is to provide insights and understanding, while

Other objectives include:

Learning Outcome and Impact:

On completion of the programme, participants will be better prepared to:

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