Data is classified into two broad categories; Quantitative and Qualitative, based on the techniques employed in the field to gather and analyze data/facts. Researchers need to choose the most suitable methods that can be helpful in collecting relevant and viable data/facts, suiting the monitoring and evaluation of the given project. There is a distinction between quantitative and qualitative methods of data collection and analysis. This is elaborated in the discussion below.
Quantitative techniques in M&E
Crafting for quantitative methods, largely depend on the kind of data we need and the nature of the project under evaluation and monitoring. Evaluators can opt to use secondary data or primary data as per the needs of the project.
Quantitative methods directly measure the status or change of a specific variable, for example, changes in crop yield, kilometers of road built or the amount of money spent on purchasing items. Basically, this methods incline to numerical data whereby the collection involves the formulation of structured questionnaires that form the solid part of getting facts from sampled respondents. Upon getting the questionnaires filled, data is then coded into specified programs and softwares, to attach meaning to every number used, and then the analysis proceeds. In regard to the presentation of the outputs, answers such as; How many? How frequent and how much forms base for the numerical results. The successful completion of a project depends on how fruitful the quantitative methods applied were and the nature of data collected, analyzed and presented. In knowing how the study was conducted, monitoring and process evaluation reveals the quality of the program and techniques used, viability of collected facts, the barriers encountered in the field and whether the set objectives were achieved. All these help in streamlining the intended purpose of the project.
Qualitative Techniques in M&E
As we monitor and evaluate projects, we use many different kinds of qualitative methods, and each of these methods gives us different kinds of data. Based on our evaluation statement or performance monitoring plan, we apply different techniques on particular scenarios to elicit certain kinds of data. We might develop emic or etic perspectives depending on where we get data from.
Qualitative methods gather information by asking people to explain what they observe, do, believe or feel. This is more of textual descriptions rather than numerical values. Qualitative methods can also be called “informal” as they have an open-ended approach to gathering facts. Respondents get subjected to provide views based on how they understand the topic of concern. Sample of questions mostly answered are; “Why do you think this happened?” or “How do you think this will affect you? People’s attitudes/behaviours, beliefs, opinions, experiences and priorities can be known through the kind of facts collected hence, making qualitative methods to be unique in a way. For any project conducted, it is easy to monitor and evaluate the progress based on how both respondents and researchers behave. The qualitative methods mostly used in collecting facts include; Interviews, focus groups, case studies, The KAP (knowledge, attitude and practice) survey and observations. In getting to understand more about data collection and analysis in M&E, enroll at Sirmirt Company for the coming training.
Data Science continues to evolve as one of the most promising, in-demand aspect necessary for companies to adopt. As technology advances, data science keeps on developing, prompting organization to subscribe to new innovative methods, strategies, programs and systems in order to be abreast with any changes experienced.
The types of data analytics each company needs to embrace are;
Descriptive analytics answers the question of what happened. For example, a nurse or a doctor needs to know how many patients were hospitalized last month; and a manufacturer – a rate of the products returned for a past month.
At this stage, historical data can be measured against other data to answer the question of why something happened. Companies go for diagnostic analytics as it gives in-depth insights into a particular problem. At the same time, a company should have detailed information at their disposal otherwise data collection may turn out to be individual for every issue and time-consuming.
Learn Data Science By Doing Data Science
Predictive analytics tells what is likely to happen. It largely depend on the findings of descriptive and diagnostic analytics to figure out tendencies, exceptions, and to predict future trends, facilitating forecasting.
The purpose of prescriptive analytics is to literally prescribe what action to take to eliminate a future problem or take full advantage of a promising trend.
What do we mean when we talk about Descriptive statistics? Data is split among various parameters, then groups of these models get created, and finally in-depth explanations is attached. Basically, the descriptive statistics is more of a summary, entailing all aspects to do with a given data set. The programs that can be of use in giving outputs that describes data eminently, include; SPSS, Minitab, Excel, STATA, and R-language. Measures of central tendency and measures of variability are the two types of descriptive statistics used in elaborating features of a given data set, so that people can understand the information presented.
Creating graphs and dashboards is all about data visualization. This is done best by the help of Tableau Software, in which options of choosing any graph of choice, 2D or 3D or even multi-dimensional as preferred by clients. Do you need to learn and know about Tableau software? Then Sirmirt Company gives you a golden opportunity of practically interacting with the interface of this program and exercise on how it is applied. Get in touch, we are always ready for you.
Data in the modern world has grown to be a powerful house that drives all businesses across the globe. To develop the most astonishing and decision-based insights, businesses should be hungry for big data. Big Data is not just like any other data until it is well collected and managed. Big data is the combination of the tools and processes of managing and making use of the large datasets. This data can be both structured and unstructured data. Structured data is a kind of data that has been organized into a better format for analysis. On the other hand, unstructured data is the information that lacks a predefined data model. Running better analytics on the big data will help draw best insights from the data and identify the most valuable customers to the organization. Well collected and analyzed data can help organizations create new products and services as well as gain new experience. This analysis will reveal the trends, patterns, associations, behavior and interactions. Without modern and advanced application software techniques, it is difficult to maneuver through this data. Research has proven that many successful and leading companies like Amazon, Apple, Google, Huawei among others have used data-driven strategies to innovate and develop new experiences in their products. The big data has helped these companies to make predictions and metrics from the customers intent, preferences and loyalty retrospectively. Success of an organization or a company is not how you run the company but rather depend on various factors. All the other factors depend on the big data for better predictive analytics. It is recommendable therefore to train the employees of the company about Big Data management skills and techniques for the company to reap more in the competitive market. We will also ensure that you are conversant with data safety and protection measures for the success of your company. Our team will not only help you to gather quality and timely data but will ensure that;
- Data is well analyzed to identify business opportunities for your organization
- Data collected targets the relevant customers
- Data collection tools are efficient
Technology has brought several good things into action and one of them is the ERP software. This software would allow you to control your expenses yet at the same time also allow you to have a proper service as well. You need to run your business as successfully as possible but that would ask for a higher budget so you would need a better plan for the software. The websites are always monitored based on how well their keywords so similarly here we will discuss the different reasons you need ERP Software:
- • Tracking Business Records: When you start your business you don’t have an office full of employees but then with the increase in business the employees increase as well. This would require you to track their records almost on a daily basis since otherwise, you will lose track of the expenditure. The ERP software would effectively keep track of the tasks under a single structure that is done every day and would give you a monthly report.
- • Efficiency: There are multiple departments in a company and maintaining all of them according to their records, data and files are hard. So, ERP software would help in maintaining these departments properly by keeping all the data in check. This would result in a better functioning since every department can function properly and in sync. The transparency in your business system would result in better regulation of all the functions and then the overall output would be excellent.
- • Customised IT package: If you are new to your business you might feel wrong about investing in the ERP software since it might be expensive for your budget. But when you are already creating an SEO panel why not another step for a better output. Now, this ERP software would allow you in creating a package for your IT structure in a rather flexible way with your choices in consideration. The cloud-based services under the ERP structures would also reduce the security-related hazards.
- • Business Expansion: You would understand the need for an urgent expansion if you have been running your business for a while now. Although it is not so easy as we speak of it and thus you need several other things like departments of customer services, processing and management. When an ERP system is installed the expansion becomes way smoother and is very seamless. The system will upload the data for the new extensions and thus the working would continue smoothly as well.
- • Data Generation: A start-up might choose options like Google Adwords, better SEO etc. for the greater outcome but an ERP software is essential as well. The last reason being efficient data generation. Like tracking daily records or efficient storage, data generated from different departments is equally necessary. It binds together different departments at one single section so that if one needs information from the other sections they can find it at a single place.
Since start-ups are the new trend these days, we acknowledge every effort towards a new start-up. So, for getting the business on great track ERP software is essential and given above are the reasons why.
Your Website Is Your Business Reputation
It is absolutely common for a brand owner to be conscious about expanding their brand. The traditional ways of expanding a brand are now past; Internet presence plays a very important role in creating a buzz to your brand’s identity. Having your own website for e-commerce, marketing, service showcasing, for any other purposes is now very easy. The process is highly cost-effective and can be easily executed. The benefit of having a website is unprecedented, let see in depth why your business needs a website.
In a generation where social media plays a significant role in the making or breaking of a brand, your online identity is an important factor. Your website for business is the way you want your target audience to perceive your brand. You are in charge of what the website will portray. Though it can be an interactive platform, the lead in the conversation is in your hand.
- Cost efficiency
Before you invest in building your website, a meeting with your website developer will provide a clear budget of what will be spent on developing the website. Instead of owning a traditional store, an online store will be much cost effective. The miscellaneous expenditure like electricity, rent is out of the question. As the service can be accessed 24 hours and there is no limit.
Whatever be the marketing strategies, in the modern world the success lies online. The marketing and advertising campaigns can reach a longer distance with online platforms. Based on your kind of business, you can choose your media platform.
Not just the business person, the website is also immensely convenient for the customers. A business is only happy and successful when the customer is satisfied. Also,the website helps to bring cross-platform services in one single tab. A huge inventory of goods and services can be availed all at once from a website. No hustling shop to shop to show what your customer needs.
The moment we hear about something, it is our instinct to put the word in Google to know more. The world now trusts more on Google and Wikipedia than human beings. Having a business website helps to add reliability to your brand’s presence. With testimonials and reviews from fellow customers, they invest more trust in your business.
This is a crucial concern for every business that their goods or services sell well. Without this factor under control, the business is doomed. With having a website, the percentage of reaching your target audience becomes relatively easy. Your business can cross the geographical barriers to entertaining the global market which makes the scope for increased sales percentage.
With the help of coding experts, building a website is now as easy as reading the alphabets. What you benefit from it is highly valuable. Your website creates a web presence for you which act like the traditional top of mind recall. Having a website will cut the middle layers of your trade where you can connect directly to your customer which you can target easily.