Data Handling
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The document discusses various data handling and analysis techniques including collecting data using tally sheets, representing data through frequency distributions and scatter graphs, visualizing data using histograms, pie charts, and techniques for failure prevention such as identifying potential problems, examining root causes, and identifying actions to prevent failures. It also defines ranking as a relationship between items where one is ranked higher, lower, or equal to another and rating as the evaluation or assessment of something based on quality or quantity.
Data Handling
- 2. - Collecting data Tallying, collecting and grouping data A tally sheet is a simple data collection form for observing how frequently something occurs.
- 3. Representing data Frequency Distribution A frequency distribution is a tabulation of the values that one or more variables take in a sample .
- 4. Scatter Graphs The data is displayed as a collection of points, each having the value of one variable determining the position on the horizontal axis and the value of the other variable determining the position on the vertical axis.
- 5. Histogram It a graphical display of tabulated frequencies , shown as bars . Histograms are used to plot density of data, and often for density estimation : estimating the probability density function of the underlying variable.
- 6. Pie chart A pie chart (or a circle graph) is a circular chart divided into sectors , illustrating relative magnitudes or frequencies.
- 7. Failure Prevention It is a technique which would help you to anticipate problems before they happen. It is a proactive approach used by the organizations. When to use it? On any new activity Whenever a significant change is planned When consequences of failure are high How to use it? Identify the potential problem Examine the root cause of problem Identify actions to prevent failure.
- 8. Ranking A ranking is a relationship between a set of items such that, for any two items, the first is either "ranked higher than", "ranked lower than" or "ranked equal to" the second.
- 9. Rating In general, a rating is the evaluation or assessment of something, in terms of quality (as with a critic rating a novel), quantity (as with an athlete being rated by his or her statistics ), or some combination of both.
- 10. Case Study Market Position; Market Share and Profitability of a Bank Market a share is used to reflect it as the Bank of choice. Customer share Competition with other banks