Management Science Dissertation for Data Analysis- TutorsIndia.com

Dissertation Data Analysis in Management Science An Academic presentation by Dr. Nancy Agens, Head, Technical Operations, Tutors India Group www.tutorsindia.com Email: info@tutorsindia.com

Today's Discussion OUTLIN E

In brief Introductio n Reasons for Using Data Analysis Tool in Management Science Various Data Analysis Tools Used in Management Science IBM SPSS Modeler Normal Distribution Conclusion

In brief You will find the best dissertation research areas/topics for future researchers enrolled in management.In order to identify future research topics, we have reviewed the management science. (recent peer-reviewed studies).The reason for using data analysis tool in management science. Various data analysis tool used in management science. How does statistical modeling utilised in the management science.

Management Science is very much crucial in management decision making.

Introductio n

The primary purpose of decision-making is for effective and efficient utilization of scarce resources for which there are both private and public sectors of that economy.

There are many types of management science methods and techniques which are applied in various systems of industry.

It can optimize the utilization of those resources.

Reasons for Using Data Analysis in Management Science

Tool

Data analysis tools are essential for providing in-depth approach in the case of recording, presenting findings, analysing or separating the data in the case of research in management science.

Those tools are utilised for predicting the trends and behaviour of consumers or users.

A researcher performing research based on the business information system needs in-depth knowledge in data analysis as it can be utilised further for a company or business to control the label of the Business Intelligence.

Researchers require to be very particular in using the data storage system through which they can store a large number of data as well.

Various Data Analysis Tools Used in Management Science

An analytical practitioner or a researcher needs wide range of analytical capabilities and multiple techniques to perform the research of management science.

In this respect, the researcher has to know about various data analysis techniques, like descriptive analytics, prescriptive analytics or predictive analytics.

In descriptive analytics, the researcher needs to prepare data for subsequent analysis.

Contd ..

In predictive analytics, the researcher needs to provide advance models for forecasting or predicting the future.

Data cubes are also found to be utilised for better visualisation of data interpretation.

Further, there are other data analysis tools which are used for data analytics process, data preparation, data analysis by actual number crunching or data visualization.

Some of the most popular and effective data analysis tools are R Programming, Python, IBM SPSS Modeler etc.

Fig 1. Data analysis through data cubes

IBM SPSS Modeler

IBM SPSS Modeler is considered as the data mining along with the text analytics software.

It is utilised for building up predictive models in data analysis.

There is a visual interface in this software and it allows the users analysing data mining algorithms without any programming.

Usage of Statistical Modeling in the Management Science Statistics is considered as a scientific discipline.

Researchers utilise statistical data based on the data sets available for the research.

Researchers need to have adequate knowledge of statistics for the proper designing of the study.

The variables utilised in the case of statistical models are quantitative and qualitative variables.

Quantitative variables are categorised as discrete, ordinal and continuous variables.

The continuous variables are two types, interval and ratio.

Normal Distribution The normal distribution has to be performed with the statistical variables.

In this case, the symmetrical deviations in both the side with positive and negative directions are needed to consider.

In the instance of a skewed distribution, an asymmetry of variables is found about the mean.

It can be positive or negative skewed distribution.

Fig 2. Example of a normal distribution

Fig 3. Example of skewed distribution

Conclusio n Therefore, for analysing data, it is very much important to know the exact utilisation of various statistical approaches in a better way.

When a researcher uses a statistical model, it becomes much easier to be a better communicator of the problem which he or she searches for.

In this respect, data visualization plays a significant field in the research of management science.

Thus, there is much significance of data analysis tool in performing research on management science.

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