Business decisions in modern times are being taken on the basis of appropriate data analysis and projections, which are generated by crunching the data. But business leaders need to stop and think once about the quality of the data; the most important factor because all the forecasts and predictions are done in the light of the data. So here are some points which should be kept in mind before starting data processing. They are: • The source of the data, i.e. survey/ public domain data etc. should be known correctly.
• Purpose of data collection: objective of data collection should be clear.
• Data collection method should not have any sampling bias.
• The nature and scope of the data should be clear. Read more at: Business decisions in modern times are being taken on the basis of appropriate data analysis and projections, which are generated by crunching the data. But business leaders need to stop and think once about the quality of the data; the most important factor because all the forecasts and predictions are done in the light of the data. So here are some points which should be kept in mind before starting data processing. They are: • The source of the data, i.e. survey/ public domain data etc. should be known correctly.
• Purpose of data collection: objective of data collection should be clear.
• Data collection method should not have any sampling bias.
• The nature and scope of the data should be clear. Read more at: