Topic 34 - Data presentation and trend analysis Flashcards
What can happen to data that is presented correctly?
Data that is presented effectively can be interpreted easily and used to identify trends
What can happen to data that is presented poorly?
Poorly presented data can wast time and not provide the information needed
What is Data presentation?
(Data presentaion)
Data is meaningless unless it is presented in a way which allows dicision makers to use it to inform their decisions.
There are many tools available to present data
What are the advantages to presenting data in text?
(Data presentaion)
Data presented as text is not particularly easy to digest but offer some advantages:
- It is strightforward to find the detail of the thing you are analysing without having to interpret pictorial representations
What do charts allow?
(Data presentaion)
Charts allow you to immediately get a “feel” for the data.
Extremes can be seen at a glance and businesses can identify trends
What are the charts avaliable?
(Data presentaion)
There are a wide range of charts available including:
- line
- bar
- pie
- acatter
- radar and surface
How can businesses identify trents quickly?
(Trend analysis)
Businesses that can identify trends quickly and easily are the ones which stay ahead of the competition.
The more data that is available, the more accurate and vaild the trends should be.
Why is a large dataset meaningless?
(Trend analysis)
A large dataset is meaningless at first glance.
Acompany owner would spend a long time searching through to identify trends by looking at figures alone
What does trend data allow?
(Trend analysis)
The analysis of trend data allows an organisation to plan things such as staffing and stock.
What does more detail allow?
(Trend analysis)
More detailed data allows for more detailed predictions.
It may be that sales of certain products peak at certain times of year
