Data, Essay Example

Data Interpretation

Data interpretation means that you are required to read data from different sources i.e. Tables, Charts, Graphs etc.  This is mainly used in Management for decision making and the compilation of reports. It can equally apply to Human Resources and used for evaluation purposes in psychometric testing.  A simple example of table data is illustrated above.

Data Manipulation

This refers to the rearranging of data without changing the base information i.e. sorting, re-arranging, analysis, moving the data around.  This is often used for purposes of comparative analysis and to obtain different views or perspectives on the data.  One aspect is to change the relationship between two variables in order to determine the effect of that change.

Key Performance Level Indicators

Key Performance Indicators (KPI’s)  in the broadest sense help organizations to understand how competent they are performing to their strategic goals and objectives.  KPI’s or important to illustrate to shareholders and other stakeholders that the firm is on track with its strategic planning goals.  The chart to the right illustrates the three pronged approach to the collection and assimilation of data for Key Performance Indicators.  The so termed ‘ICE’ approach of Identify, Collect and End has been criticised as often being misunderstood and confused with users ending up with too much data and then not sure how to intertpret and deal with the end results.

The use of KPI’s goes beyond the conventional wisdom of just counting and quantifying data. The concept is aimed at providing a clear and concise picture of reality. It may also include words, pictures or videos in order to convey important messages.  It can be used in a variety of different applications and settings but is widely used in Medical fields, sociological settings and manufacturing processes.