BUSINESS ANALYSIS

TECHNIQUES
Lecture - 3

Data Classification
 Business Analysis Techniques
Classification of Data
Sources of Data

Sources of Data

External Internal

Primary data Secondary Data

A common classification is based upon who collected the data.

Primary Data Secondary Data
• Data collected by someone else for
• Data collected by the
some other purpose (but being
investigator himself/ herself for a
utilized by the investigator for
specific purpose.
another purpose).
• Eg: Data collected by a student
• Eg: Census data being used to
for his/her thesis or research
analyse the impact of education
project.
on career choice
Unit 1 – Data Classification and its statistical features
 Business Analysis Techniques
Classification of Data
Primary Data
• Data has been collected from first hand experience.
• Primary data has not been published and yet and is more reliable,
authentic and objective.
• Primary data has not been changed or altered by human beings
therefore its validity is greater than secondary data

Merits De-Merits
Targeted Issues are addressed High Cost

Data Interpretation is better Time Consuming

High accuracy of data More resources are required

Addresses specific research issus Inaccurate feedback

Greater Control Required lot of skill & labour

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Factor effecting Data Collection

Type of research subject.

Purpose of research study.

Size of study sample

Distribution of target population.

Time frame of the study.

Literacy level of the subjects.

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

Interview

Indirect Oral
Observation
Investigation

Primary Data
Collection Method

Survey Questionnaire

Case Study

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

1. Observation
Observation is a methodological way of recognizing and
noting a fact of occurrence.

Type of Observation

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

1. Observation

Merits De-Merits
Subject bias eliminated Time Consuming

Independent to respondent Expensive

Information related to current Extraneous factors may

state of affairs interfere

Limited amount of information

available

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

2. Interview

Presenting stimuli to the respondents in the

form of question and note down their oral –
Verbal response.
Type of Interview
 Standarized
a) Structured
b) Unstructured
 One to one
1. Face to face.
2. Telephonic.
3. Internet mediated interviews.
 One to many (focus groups)

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

2. Interview

Merits De-Merits
More accurate responses More time and cost

Get response from all persons Wider geographical area

Overcome resistance of Not suitable for more

respondents respondents

Response to difficult question Selection, training and

may obtained supervision of field staff

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

3. Survey
A detailed study of geographical
area to gather data attitudes,
impressions, opinions, satisfaction
level etc., by polling a section of the
population.

Type
1. Census Survey.
2. Continuous Survey or Regular
Survey.
3. Ad-hoc survey.

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

3. Survey

Merits De-Merits
Covered large population On small scale survey avoided

Less expensive Not deep information

Researcher must have good

knowledge

Unit 1 – Data Classification and its statistical features

 Business Analysis Techniques
Classification of Data
Primary Data Collection Method

4. Case Study
It is the method of comprehensive study which
may be a person, a family, an institution, an
organization or a community.

Merits De-Merits
Intensive study Use only in limited sphere

No Sampling Personal bias

Increases analytical One case almost different from

knowledge another

Hypothesis formulation Not easy and simple

Unit 1 – Data Classification and its statistical features