LO3 3.4 Stages of Data Analysis

Question 1

Identify the need

Answer 1

-what info is needed
-what do we need to find out

Question 2

Define the scope

Answer 2

-defines restrictions on the project like budget, timescale

Question 3

Identify potential sources

Answer 3

-identify range of sources for potential info
-ensure its unbiased and covers all objectives

Question 4

Source and select info

Answer 4

-Select accurate and reliable data
-remove unsuitable data
-bad info = bad effect

Question 5

Select the most appropriate tools

Answer 5

-select most appropriate data analysis tool = charts and graphs
-regression analysis = determining of relationships if spending increases on advertising will consumption increase
Trend analysis = shows patterns over time e.g bottled water consumed over the past decade

Question 6

Process and analyse data

Answer 6

-enter data into software to analyse
-produce graphs and charts

Question 7

Record and store information

Answer 7

-write report based on findings

Question 8

Share results

Answer 8

-publish results for stakeholders can inspect them
-written or website