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Data analysis techniques
5 years ago in Data Analysis , Statistical Analysis By Riya N
I want to conduct statistical data analysis. Which method should I opt for? My research field is marketing.
All Answers (4 Answers In All)
By Venu R Answered 5 years ago
In the modern era, data is everywhere. You need to use the right statistical data analysis methods to obtain apt results. Some of the methods statisticians often follow are, Mean – This is useful in determining the overall trend of a data set. Using this method you can quickly calculate the data. Standard deviation – is the measure of a spread of data around the mean. Regression -.Regression models the relationships between dependent and explanatory variables and designates whether the relationships are weak or strong.
By Ramesh B Answered 5 years ago
Venu you have missed out hypothesis method. This method is also called as t testing method. Key concepts of this method are: Null hypothesis: It is a statistical hypothesis that assumes the observation is the result of a chance factor. Alternative hypothesis: It is contrary to the null hypothesis and shows that observations are the outcome of a real effect. Power: It is known as the probability of accepting the null hypothesis. One-tailed test: If the given statistical hypothesis is one value, it is called the one-tailed test. Two-tailed test: If the hypothesis assumes a less than/greater than a value, it is called the two-tailed test.
By Deeksha S Answered 5 years ago
Ramesh & Venu have mentioned about the popular statistical data analysis methods. If you want to know more about them and their pitfalls, refer https://www.bigskyassociates.com/blog/bid/356764/5-Most-Important-Methods-For-Statistical-Data-Analysis, .https://study.com/academy/lesson/types-of-statistical-analysis.html
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