WHAT IS DATA

DATA
COLLECTION
Business News

https://www.bbc.co.uk/news/business-51904769

https://www.bbc.co.uk/news/business-51896169
1. Define data analysis and presentation

2. Classify the types of data

3. Highlight the difference between data and information

4. Create a method of data presentation

5. Demonstrate the use of technology when presenting data

1. DESCRIBE AND DISCUSS THE
CONCPT AND IMPORTANCE OF
FINANCIAL MANAGEMENT (This
should be fully cited in text with a
reference list).
Word count 150- 200 Words.
What is data ?
■ Data is facts and statistics collected together for reference or
analysis

■ Data is raw, unorganized facts that need to be processed.

Data can be something simple and seemingly random and
useless until it is organized.
 Types of Data

DATA

Quantitative Qualitative
(Numbers) (Categories)

Discrete Ordinal
Continuous Nominal
(whole (Names with
(fraction) (Any names)
number) order)
 Nominal Data
■ It is named data. An easy way to remember this - nominal sounds like name.
So, nominal = named. Examples: Gender, marital status, eye colour, pass,
fail, milk, apple, and chocolate.

■ Graphical Representation: Pie Chart, Bar Chart

 Ordinal Data
■ Ordinal data is data which is placed into some kind of order or
rank. An easy way to remember- ordinal sounds like order.
■ Example: Rating feelings on a scale of 1-5; placed finished in a
race- first, second, third; age range.

■ Graphical Representation: Bar chart (We should not use pie chart
for Ordinal data)
Discrete and Continuous Data

Discrete Data: Any specific whole number.

Example: shoes size, number of book on a shelf, number of students in a class.

Continuous Data: Any fractional number.

Example: Height, length of a classroom, speed of a train.

■ Graphical Representation: Bar chart, Line graph, Scatter graph

Types of Data

Yes/No ■ Nominal Data

Rank your favourite Chocolate 1-5 ■ Ordinal Data

5.6 inches ■ Continuous Data

546 ■ Discrete Data

Employees satisfaction level on a scale 1- ■ Ordinal Data

5
 Sources of Data

Primary Interview/
(Firsthand data) Questionnaire/
Observation/ Experiment

Data Sources
Secondary Books, Articles,
(Someone collected earlier) Statistics/Internet
 Information

When data are processed, organized,

structured or presented in a manner that
makes sense called information.
Data vs Information
Data
Data is used as input
Data is unprocessed facts figures
Data doesn’t depend on Information
Data is not specific
Data is a single unit
Data doesn’t carry a meaning
Data is the raw material
Information
Information is the output of data
Information is processed data
Information depends on data
Information is specific
A group of data which carries news
and meaning is called Information
Information must carry a logical
meaning
Information is the product
What is data analysis?
■ Data analysis, or data analytics, is a process of inspecting,
cleansing, transforming, and modeling data with the goal of
discovering useful information, suggesting conclusions, and
supporting decision-making.

■ Data analysis helps in the interpretation of data and allows

for making decisions
 Data
Fair
No Comment
Not Fair Data Analysis
Fair
Fair
No Comment Fair 13
Not Fair
Fair
Not Fair 3
No Comment
No Comment
Not Fair No Comment 2
Fair
Fair
No Comment
Not Fair
Fair
 Data presentation
■ Data presentation refers to the organization
of data into graphs, tables, maps, so that logical and
statistical conclusions can be derived from the
collected measurements.

Data can be presented in 3 methods:

1. Graphical
2. Tabular
3. Textual
 Data Presentation

Fair 13

Not Fair 3

No Comment 2
 Types of Graph
Bar/Column Chart Pie Chart
 Types of Graph
Line Graph
Scatter Graph
 Table

A table is an arrangement of data or information in rows and columns

An example:
53% of male students said that they always ate breakfast, 33% said that they usually did,
and 14% said that they never ate breakfast.

Table 1: Student breakfast eating pattern

Pattern Percentage

Always 53%

Usually 33%

Never 14%
What is Financial Data?

■ Financial data consists of pieces or sets of

information related to the financial health of
a business. The pieces of data are used by
internal management to analyze business
performance and determine whether tactics
and strategies must be altered.
 Example: Financial Data Presentation
Next Plc Debenhams
 Question?

Where would you find the financial information?

1. Income Statement
2. Balance Sheet
3. Cash Flow
The use of technology

■ How does technology assist in presenting financial data?

(Financial Statements)
■ Give examples of what you would use
Technology for analysing and presenting data

■ MS Excel
■ SPSS
■ Stata
■ Looker
■ Tableau
Study task

■ You are asked to present your business figures to

a potential investor.

■ Create a power point slide with your chosen

graphs to demonstrate your evidences.

■ Write 200 words on how ICT plays a huge part

in financial data analysis
 Plenary Triangle

 What did you learn

 Something to think about

 Keywords from today’s session