There are a variety of approaches to collecting and analyzing

experimental data sets dependent on the experimental approach

utilized. Table 14.1 provides a list of data collection
mechanisms available and the types of analytical techniques that
support their analysis. When computer-based models and
simulations are employed it may be necessary to assess the fidelity
of each model to capture and preserve the pertinent data elements.
The precision of the model parameters must be harmonized to
ensure a consistent data set for analysis. The data files resulting
from the experimentation should be backed up and controlled to
provide an historical record of the trade-study outcomes. The data
analysis techniques represented in Table 14.1 are defined as
follows:
Assessment questions ought to be sensible, responsible, and fitting given the program's procedure
and results. Very much characterized assessment questions think about the motivation behind the
assessment, planned utilization of the outcomes, the necessities of partners, and this present reality
conditions that impact program achievement. Significant relevant data for provincial territories
incorporates neighbourhood convictions and practices, framework abilities, and
confinements in regards to limit, innovation, and required assets. Both quantitative and
subjective information ought to be gathered to respond to the exploration questions.

The Code is intended to motivate and control the moral direct of all processing experts,
including present and yearning professionals, educators, understudies, influencers, and any
individual who uses figuring innovation in an effective manner.

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1. Start with strategy

It’s easy to get overwhelmed by the possibilities that a big data world

provides, and it’s easy to get lost in the noise and hype surrounding data.
Starting with strategy helps you ignore the hype and cut to what is going to
 make a difference for your business. Instead of starting with what data
you could or should access, start by working out what your business is
looking to achieve.

2. Hone in on the business area

You now need to identify which business areas are most important to
achieving your overall strategy. If you could only work on improving one or
two areas, which would you choose? For most businesses, the customer,
finance and operations areas are key ones to look at.

3. Identify your unanswered business questions

Now that you’ve identified your strategic objectives, the next step is to work
out which questions you need to answer in order to achieve those goals. By
working out exactly what you need to know, you can focus on the data that
you really need. Your data requirements, cost and stress levels are
massively reduced when you move from ‘collect everything just in case’ to
‘collect and measure x and y to answer question z’.

4. Find the data to answer your questions

The next step is to identify what data you need to access or acquire in order
to answer these questions. It’s really important to understand that no type
of data is inherently better or more valuable than any other type. Focus on
identifying the ideal data for you: the data that could help you answer your
most pressing questions and deliver on your strategic objectives. Make a
note of which data sets you could use to answer those questions. You can
then choose the best data options to pursue based on how easy the data is
to collect, how quick and how cost effective it is.

5. Identify what data you already have

Once you’ve identified the data you need, it makes sense to see if you’re
already sitting on some of that information, even if it isn’t immediately
obvious. Internal data accounts for everything your business currently has
or could access. If the data doesn’t already exist, then find ways of collecting
it either by putting data collection systems in place or by acquiring or
accessing external data.

6. Work out if the costs and effort are justified

Once you know the costs, you can work out if the tangible benefits
outweigh those costs. In this respect, you should treat data like any other
key business investment. You need to make a clear case for the investment
that outlines the long-term value of data to the business strategy.
Although the cost of data is falling all the time, it can still add up if you get
carried away. This is why it’s crucial to focus only on the data that you
really need. If you believe the costs outweigh the benefits, then you may
need to look at alternative data sources.

7. Collect the data

Much of this step comes down to setting up the processes and people who
will gather and manage your data. You may be buying access to an
analysis-ready data set, in which case there’s no need to collect data as
such. But, in reality, many data projects require some amount of data
collection.

Step 1: Define Your Questions

In your organizational or business data analysis, you must begin with the right
question(s). Questions should be measurable, clear and concise. Design your
questions to either qualify or disqualify potential solutions to your specific
problem or opportunity.

For example, start with a clearly defined problem: A government contractor is

experiencing rising costs and is no longer able to submit competitive contract
proposals. One of many questions to solve this business problem might include:
Can the company reduce its staff without compromising quality?

Step 2: Set Clear Measurement Priorities

This step breaks down into two sub-steps: A) Decide what to measure, and B) Decide how to
measure it.

A) Decide What To Measure

Using the government contractor example, consider what kind of data you’d
need to answer your key question. In this case, you’d need to know the number
and cost of current staff and the percentage of time they spend on necessary
business functions. In answering this question, you likely need to answer many
sub-questions (e.g., Are staff currently under-utilized? If so, what process
improvements would help?). Finally, in your decision on what to measure, be
sure to include any reasonable objections any stakeholders might have (e.g., If
staff are reduced, how would the company respond to surges in demand?).

B) Decide How To Measure It

Thinking about how you measure your data is just as important, especially
before the data collection phase, because your measuring process either backs
up or discredits your analysis later on. Key questions to ask for this step include:

 What is your time frame? (e.g., annual versus quarterly costs)

 What is your unit of measure? (e.g., USD versus Euro)
 What factors should be included? (e.g., just annual salary versus annual
salary plus cost of staff benefits)

Step 3: Collect Data

With your question clearly defined and your measurement priorities set, now it’s
time to collect your data. As you collect and organize your data, remember to
keep these important points in mind:

 Before you collect new data, determine what information could be

collected from existing databases or sources on hand. Collect this data
first.
 Determine a file storing and naming system ahead of time to help all
tasked team members collaborate. This process saves time and prevents
team members from collecting the same information twice.
 If you need to gather data via observation or interviews, then develop an
interview template ahead of time to ensure consistency and save time.
  Keep your collected data organized in a log with collection dates and add
any source notes as you go (including any data normalization performed).
This practice validates your conclusions down the road.

Step 4: Analyze Data

After you’ve collected the right data to answer your question from Step 1, it’s
time for deeper data analysis. Begin by manipulating your data in a number of
different ways, such as plotting it out and finding correlations or by creating a
pivot table in Excel. A pivot table lets you sort and filter data by different
variables and lets you calculate the mean, maximum, minimum and standard
deviation of your data – JUST BE SURE TO AVOID THESE FIVE PITFALLS OF
STATISTICAL DATA ANALYSIS.

As you manipulate data, you may find you have the exact data you need, but
more likely, you might need to revise your original question or collect more data.
Either way, this initial analysis of trends, correlations, variations and outliers
helps you FOCUS YOUR DATA ANALYSIS ON BETTER ANSWERING YOUR
QUESTION and any objections others might have.

During this step, data analysis tools and software are extremely helpful. Visio,
Minitab and Stata are all good software packages for advanced statistical data
analysis. However, in most cases, nothing quite compares to Microsoft Excel in
terms of decision-making tools. If you need a review or a primer on all the
functions Excel accomplishes for your data analysis, we recommend
this HARVARD BUSINESS REVIEW CLASS.