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SOURCES OF DATA (Types of data (Discrete, Continuous, Sample, Population,…
SOURCES OF DATA
Types of data
Discrete
Continuous
Sample
Population
Primary
Secondary
Secondary data
Governments
Banks
Money supply
Government borrowing
Financial transactions
Financial newspapers
Foreign exchange rates
Interest rates
Gilts
Other share prices
Trade journals
Data on new developments in the industry
Articles about competitors' products
Details of industry costs and prices
Other sources
Advice or information bureaux
Consultancies
Specific reference works
Libraries and information services
Electronic sources
Big Data
The three Vs
Volume
Velocity
Variety
The uses of big data
Big data and business value
Big data and the customer
Big data and corporate strategy
Effect of big data on decisions
Benefits of big data analytics
Criticisms of Big Data
Not all information is relevant
Correlations between data sets and less of an emphasis on causation
Security and data protection
Privacy
Personnel issues
Information
Sources of data
Internal source
The accounting records
Other internal source
Payroll system
Production department
Many services businesses
External source
Primary source
Advantages
Disadvantages
Secondary source
Advantages
Disadvantages
Sampling
Disadvantages of census
Advantages of sample
Sampling methods
Probability sampling
Random
Stratified
Systematic
Multistage
Cluster
Non-probability sampling
Quota sampling