Step 2: Getting Data
The Importance of Data in Statistics
Data is at the heart of statistics. Basically, data is
information. It is any type of information about the things you are
trying to analyze. It may be information about customers, or companies,
or shares, like the Accu-Phi sales and other customer data. It may
come to you in numbers, words, phrases, sentences, pictures, or other
formats. If you can record it in a consistent and retrievable way,
it is data.
For instance, say you are a manager of an automobile manufacturing plant. You might want to understand your production efficiencies better. You need information to do so, perhaps speed of production of each car produced, number of defects of each car, and the like. This is raw data. ...
Get Business Statistics Made Easy in SAS now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
