DATA

COLLECTION
AND ANALYSIS

BBA 6TH SEMESTER

TYPESOF DATA
AND THEIR
SOURCES
L
• Research data is any information
that has been collected,
observed, generated or created
to validate original research
Concept of Data
findings. data refers to any information or
• Can take many forms: evidence gathered through
• documents, spreadsheets
systematic investigation or
• laboratory notebooks, field notebooks, diaries
experimentation to support or
• questionnaires, transcripts, codebooks
refute a hypothesis or answer a
• audiotapes, videotapes
research question..
• photographs, films
• test responses
3
• slides, artefacts, specimens, samples
Research Data Formats

Text Number Audio Video Image

Mixmedia Sensor: GPS, Compass GIS

4
• Facts: tangible, actually exist, actual occurance, objective real
Eg: The distance between Dhankuta to Kathmandu is …... KM.
Sample data may have low reliability.

• Opinions: view or jugdements based on belief

Eg: I believe there is life on mars

• Database: Arrangement of raw data on logical manner

• Data warehouse: central repository, eletronic
• Data mining: Consumer focus
• Information: Processed data
• Knowledge: blend of information, experience and insights to
provide a framework 5
Level of
exactness of Knowledge
Data
Analysis

Facts

Information

Level of improvement in
Data Decision Making
6
Types of Data

1. Primary and Secondary Data

2. Qualitative and Quantitative Data

7
Primary Data

primary data should satisfy two conditions:

1. should be collected first-hand and
2. should not be a published data of someone else

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a) Primary Data: Primary data means original data that has
been collected specially for the purpose in mind. It means
someone collected the data from the original source first
hand.
The people who gather primary data may be an authorized
organization, investigator, enumerator or they may be just
someone with a clipboard.
Those who gather primary data may have knowledge of the
study and may be motivated to make the study a success.
These people are acting as a witness so primary data is only
considered as reliable as the people who gathered it.
9
b) Secondary Data: Refers to data which is collected by someone who
is someone other than the user.
• Common sources: censuses, information collected by government
departments, organizational records, books, articles and data that
was originally collected for other research purposes.
• saves time that would otherwise be spent collecting data and,
particularly in the case of quantitative data, can provide larger and
higher-quality databases that would be unfeasible for any
individual researcher to collect on their own.
• Analysts of social and economic change consider secondary data
essential, since it is impossible to conduct a new survey that can
adequately capture past change and/or developments.
• Can be less useful in marketing research, as data may be outdated
or inaccurate.
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Methods of Primary Data Collection

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 BASIS FOR COMPARISON PRIMARY DATA SECONDARY DATA

Meaning Primary data refers to the first hand Secondary data means data
data gathered by the researcher collected by someone else
himself. earlier.
Data Real time data Past data
Process Very involved Quick and easy
Source Surveys, observations, experiments, Government publications,
questionnaire, personal interview, websites, books, journal
etc. articles, internal records etc.
Cost effectiveness Expensive Economical
Collection time Long Short
Specific Always specific to the researcher's May or may not be specific to
needs. the researcher's need.
Available in Crude form Refined form
Accuracy and Reliability More Relatively less 12
Important Consideration for Data Collection
• Cost. Although this seems like a non-scientific criterion, in reality, we are limited by
available resources. The cost will affect the size of your sample.
• Implementation time. How long will it take you to get your data? Is it a time sensitive
issue?
• Is the sample available? Look at the different information you have or can obtain and
the time and cost to obtain the information.
• Response rate. Different methods have different average response rates. You should
consider how important the response rate is to your research
• Technology available. Will you be surveying respondents at home or at work? Will they
have a computer available? Do they have e-mail? Do you have their e-mail address?
• Sensitive questions. Are you assessing a sensitive topic? An interviewer's presence may
influence responses to sensitive questions and provide less than accurate data.
• Size and complexity. If you have a very large sample to study, you should consider using
scannable forms for data collection process. This will reduce the data entry time
associated with manual entry 13
14
Secondary Sources of Data

15
 For Reliability

As Suppliment

As a reference
Uses of Secondary Data
For Comparison

To solve problem

For collecting primary data

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Secondary Data sources in Nepal
https://nsonepal.gov.np/
https://www.nrb.org.np/
https://ceda.tu.edu.np/
https://tucl.tu.edu.np/
https://npc.gov.np/en
https://ncc.org.np/
https://www.sebon.gov.np/
NGOs
Government Offices
https://nnl.gov.np/

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Advantages and Disadvantages of secondary Data

Advantages Disadvantages
• To save time and cost • No control over quality
• Use of existing database & access • Lack of familiarity
• credible sources are sometimes • Complexity of Data
more reliable f • Absence of key variables
• it can influence and re-shape the • Chances of manipulation
business issue
• Quick

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19
1. OBSERVATION METHOD: Data is collected from the field is
with the help of observation by the observer or by individual
field visit. No conversation or communication should be
done while observing.
P.V. Young, “Observation may be defined as systematic
viewing, coupled with consideration of seen phenomenon.”

General Types
A) Structured and Unstructured Observation.
B) Participant and Non Participant Observation.
C) Controlled and Uncontrolled Observation
NO response error, No questionnaire, can be used with other
data collection methods 20
2. INTERVIEW METHOD: Collecting data from presentation or
oral-verbal stimuli and reply in terms of oral-verbal responses.
Conversation and communication is the main tool of interview.

Types of Interviews:
A) Personal interviews
B) Telephonic interviews
C) Structured interviews
D) Unstructured interviews
E) Focused interviews
F) In-Depth interviews
Additional data can be collected, high response rate, high
flexibility for restructuring 21
3. QUESTIONNAIRE METHOD:
This is a logically ordered list of questions that have been separat
ed into groups with the goal of gathering data for study.
Respondents receive the questionnaire through mail. They are as
ked to read and comprehend the questions, write their answers
in the designated place on the form, or select their response
from a list of options on a closed ended questionnaire.

VARIOUS FORMS OF QUESTIONS USED IN QUESTIONNAIRE:

A) Direct Question and Indirect Question
B) Open Form of Questions and Closed -end Form of Question
C) Dual-choice Questions or Multiple Choice Questions (MCQ),
and Scale or Rating Questions . 22
• Low cost even the geographical area is needed to cover.
• Answers are in respondent’s own words so free from
bias.
• Adequate time to think for answers.
• Non approachable respondents may be conveniently
contacted.
• Large samples can be used to make results more reliable.

But,
• Expensive, time consuming, problem in collection,
variation in respondents knowledge level, difficult to
know who filled the questionnaire 23
Questionnaire
& It's Design
Kewal Parajuli
 Agenda

1 2 3 4 5
Introduction Basic Contents/Co Design Summary
Principles mponents

2 Presentation title 20XX

 Introduction
• A questionnaire is a research instrument consisting of a
series of questions for the purpose of gathering
information from respondents.
• Cheap, quick, and efficient way of obtaining large
amounts of information from a large sample
• Collects primary data related to intentions, attitudes,
opinion, behaviour, demographic information.

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 Concept
• Set of questions
• Delivered through email or post office
• Specially for literate respondents
• Information is collected through answers
• No direct relationship between researcher and respondents
• Design quality determines information quality

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5 20XX
 Principles of wording
1. The appropriateness of the content of the questions.
2. How questions are worded and the level of sophistication of the language
used.
3. The type and form of questions asked.
4. The sequencing of the questions.
5. The personal data sought from the respondents.

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 Eleven 'No's in question designing
• No question without objective • No mathematical question
• No complex language • No longer and vague reference period
• No ambiguous questions/concepts • No reference of previous questions.
• No leading and embarrassing • No double-barreled question.
questions • No shorter check lists
• No two in one questions
• No double negative sentence

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 Type and form of questions
• Open-ended versus closed questions
• Positively and negatively worded questions
it is better to say “Coming to work is not great fun” than to say “Not coming
to work is greater fun than coming to work.” Likewise, it is better to say “The
rich need no help” than to say “Only the rich do not need help". “Are you
opposed to not requiring students to take showers after gym class?”
• Double-barreled questions:
the question “Do you think there is a good market for the product and that
it will sell well?” could bring a “yes” response to the first part (i.e., there is a
good market for the product) and a “no” response to the latter part (i.e., it
will not sell well for various other reasons). In this case, it would be better to
ask two questions: (1) “Do you think there is a good market for the
product?” and (2) “Do you think the product will sell well?”
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• Ambiguous questions : ambiguously worded “To what extent would you say
you are happy?”
• Recall-dependent questions
• Leading questions: “Don’t you think that in these days of escalating costs of
living, employees should be given good pay rises?”
• Loaded questions: emotional load eg. "To what extent do you think
management is likely to be vindictive if the union decides to go on
strike?”
• Social desirability: “Do you think that older people should be laid off?”
• Length of questions : should not exceed 20 words

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 Questionnaire Design
• General appearance or “getup” of the questionnaire
• Sequencing of questions
• Introduction of researcher and research organization (if any)
• Main objective of research
• Guidelines to fill up the questionnaire
• Assurance of secrecy of responses provided by respondents
• Address to deliver the questionnaire
• Thanks for participating in the research work

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 Organization
Section: I Introduction, Objectives, Guidelines

Section-II Basic Demographic Information

Section-III Main Part: Objectives based

Open-ended question at the end

Separate Part: Conclude Part

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A good introduction

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• Organizing questions, giving instructions and guidance, and good alignment

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 Open-ended question at the end
• The questionnaire could include an open‐ended question at the end, allowing
respondents to comment on any aspect they choose. It should end with an
expression of sincere thanks to respondents.

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 Interviews
• An interview is a guided, purposeful conversation between two or more
people.
• The research interview is a purposeful conversation between two or
more people, during which the interviewer asks concise and
unambiguous questions and listens attentively to the interviewee
talking.
• There are many different types of interviews. Individual or group
interviews may be unstructured or structured, and conducted face to
face, by telephone, or online.
• level of rapport between the interviewer and the interviewee is
significant.
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• Objective approach (reality that exists independently) and subjective approach of
interviewing (social world are socially constructed)
• nature of any interview should be consistent with your research question(s) and
objectives
Features of Interview: Direct, flexible, purposeful, Mutual relation,
recording or note keeping, verbal and non-verbal expression, in depth
information, valid and reliable

There are various typologies of interviews, broadly on the basis of

1. Level of standardisation or structure in the research interview;
2. Number of participants and interview modes.

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Types of research interview

Formal
On the basis
of formality
Informal
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Types of research interview

Personal
On the basis
of Number
Group
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Types of research interview
Diagnostic

Treatment
On the basis
of Purpose
Research

Selection

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Types of research interview

Short contact
On the basis of
contact period
Prolonged

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Types of research interview
Quantitative

On the basis of
Nature of subject Qualitative
matter

Mixed

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Types of research interview
Directive

Non-
directive
On the basis
Focused
of Role

Repeated

Depth

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Types of research interview

Structured
On the basis
of Structure
Unstructured
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Types of research interview
Face to face

On the basis of
Administration Telephone
Process

Computer Assisted

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Establishing credibility and rapport, and motivating individuals to respond
The questioning technique : Funneling , Unbiased questions, Clarifying issues, Clarifying issues, Taking
notes
What are some of your feelings about working for this organization? (funneling)

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 PAPI, CAPI, CATI, or CAWI?
https://www.youtube.com/watch?v=HHB4vgPbluo&ab_channel=ExperienceResearc
hLab

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PAPI (Paper-and-Pencil Interviewing)
• Process:
• Respondents fill out a paper questionnaire.
• Data is transcribed into a digital format.
• Advantages:
• Cost-effective and easy to administer.
• Can reach remote locations without internet.
• Higher response rates due to personal interaction.
• Disadvantages:
• Time-consuming manual data entry.
• Higher chances of human error.

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CAPI (Computer-Assisted Personal Interviewing)
•Process:
• Interviewers use electronic devices for face-to-face interviews.
•Advantages:
• Reduces human error with automated data entry.
• Allows complex question routing and immediate validation.
• Can capture additional data like GPS and audio.
•Disadvantages:
• Requires trained interviewers and devices.
• More expensive and time-consuming.
• Dependent on electricity and internet.
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CATI (Computer-Assisted Telephone Interviewing)
•Process:
• Interviewers conduct surveys over the phone using
computers.
•Advantages:
• Cost-effective compared to face-to-face.
• Higher response rates without travel.
• Secure and accurate data collection.
•Disadvantages:
• Limited to respondents with phone access.
• Potential for lower engagement.
• Requires trained interviewers and reliable phone systems.

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CAWI (Computer-Assisted Web Interviewing)
•Process:
• Respondents complete an online questionnaire.
•Advantages:
• Cost-effective with no need for interviewers.
• Immediate data collection and analysis.
• Flexible design with multimedia elements.
•Disadvantages:
• Limited to respondents with internet access.
• Potential for lower response rates.
• Possible bias towards younger, tech-savvy respondents.

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 Business opportunities are
like buses. There’s always
another one coming.
Richard Branson

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 Data analysis
• organizing and preparing data; Presenting data in tables,
graphs and charts;
• Statistical techniques- descriptive and inferential statistics;
Statistical testing of hypothesis;
• Methods of collecting and analyzing qualitative data.
Review
Organizing and Preparing Data
• GIGO
• raw data : The unedited information gathered from a respondent in
the exact form as provided by that respondent.
• nonrespondent error : Error that the respondent is not responsible
for creating, such as when the interviewer marks a response
incorrectly.
• Editing : The process of checking the completeness, consistency, and
legibility of data and making the data ready for coding and transfer to
storage.
• Coding: The process of assigning a numerical score or other
character symbol to previously edited data.
DATA ANALYSIS BASICS: EDITING, CODING,
& CLASSIFICATION
• tabulation of data will be
performed by hand or by
computer?
• How information can be
converted into a form that will
allow it to be processed
efficiently?
• What statistical tools or methods
will be employed?
EDITING
• First step- to edit the raw data. Editing detects errors and omissions,
corrects them whatever possible.
• Editor’s responsibility is to guarantee that data are – accurate; consistent
with the intent of the questionnaire; uniformly entered; complete; and
arranged to simplify coding and tabulation.
• Editing of data two ways - (i) field editing and (ii) in-house also called
central editing.
• Field editing is preliminary editing of data by a field supervisor on the same
data as the interview. Its purpose is to identify technical omissions, check
legibility, and clarify responses that are logically and conceptually
inconsistent. When gaps are present from interviews, a call-back should be
made rather than guessing what the respondent would probably said.
Supervisor is to re-interview a few respondents at least on some pre-
selected questions as a validity check. In center or in-house editing all the
questionnaires undergo thorough editing. It is a rigorous job performed by
central office staff.
CODING
• Coding refers to the process of assigning numerals or other
symbols to answers so that responses can be put into a limited
number of categories or classes.
• They must also possess the characteristic of exhaustiveness (i.e.,
there must be a class for every data item) and also that of
mutual exclusively which means that a specific answer can be
placed in one and only one cell in a given category set. Another
rule to be observed is that of unidimensionality by which is
meant that every class is defined in terms of only one concept.
CODING….
• Coding is necessary for efficient analysis and through it the
several replies may be reduced to a small number of classes
which contain the critical information required for analysis.
• Coding decisions should be done while designing questionnaire..
But in case of hand coding some standard method may be used.
One such standard method is to code in the margin with a
coloured pencil. The other method can be to transcribe the data
from the questionnaire to a coding sheet.
• Whatever method is adopted, one should see that coding errors
are altogether eliminated or reduced to the minimum level.
CLASSIFICATION
• Most research studies result in a large volume of raw data which must
be reduced into homogeneous groups
• This fact necessitates classification of data which happens to be the
process of arranging data in groups or classes on the basis of common
characteristics.
• Data having a common characteristic are placed in one class and in
this way the entire data get divided into a number of groups or
classes.
Classification can be one of the following two types,
depending upon the nature of the phenomenon involved:
(a) Classification according to attributes: data are classified on the basis
of common characteristics which can either be descriptive (such as
literacy, sex, honesty, etc.) or numerical (such as weight, height,
income, etc.).
(b) Classification according to class-intervals: Unlike descriptive
characteristics, the numerical characteristics refer to quantitative
phenomenon which can be measured through some statistical
units. Data relating to income, production, age, weight, etc. come
under this category. Such data are known as statistics of variables
and are classified on the basis of class intervals.
Some eg.
• Age group wise, Geographical, Chronological, Income range etc
Age group No. of Respondents
0-4 12
4-9 34
10-14 45
15-19 15
20-24 22
geographical Region No. of Respondents

Mountain 12

Hill 34

Terai 45
Tabulation
• A table is a symmetric display of data in rows and columns.
• Tabulation passes on to the meticulous arrangement of the
information in to two forms (i.e., Column wise and row wise
preparations)
• core objectives of tabulation
• To bring out investigation and for evaluation of data
• To find omissions and errors in the data
• To facilitate the process of comparison, summarization and
detections of computational errors
Basic Principles of Tabulation
• Should be comprehensible, concise and adequately titled.
• Separately numbered for easy reference.
• The heading/sub heading in a table should be very clear, specific or
relevant and brief.
• Footnotes at appropriate places with a suitable indications
• Source of information of data should be clearly indicated.
• Comparable data should be presented side by side.
• The figures in percentage should be approximated before tabulation.
• The alignment of the figures, symbols etc. should be properly aligned
and adequately spaced to enhance the readability of the same.
• Abbreviations should be avoided.
Importance of Tabulation
• Easy understanding of data
• Easy to categorize within the data.
• Finding mistakes
• Support to perform effectively if we have economic table mode
• Time saving for analyzing
• Easy to compare etc.
• Components of a Table
o Table Numbers
o Table Titles
o Table Headings
o Table Body
Three-way Table (Treble Table)
Graphs and Charts
Principles of Figure Construction
The standards for good figures are simplicity, clarity, continuity,
and (of course) information value. A good figure
• augments rather than duplicates the text,
• conveys only essential information,
• omits visually distracting detail,
• is easy to read—its elements (e.g., type, lines, labels, symbols)
are large enough to be seen and interpreted with ease,
• is easy to understand—its purpose is readily apparent, is carefully
planned and prepared, and
• is consistent with and in the same style as similar figures in the
same article.
For figures of all types, check that
• images are clear,
• lines are smooth and sharp, font is simple and legible,
• units of measurement are provided, axes are clearly
labeled, and
• elements within the figure are labeled or explained.
Figure Components
number: The figure number (e.g., Figure 1) appears above the figure in bold .
title: The figure title appears one double-spaced line below the figure number in
italic title case
image: The image portion of the figure is the chart, graph, photograph,
drawing, or other illustration itself
legend: A figure legend, or key, if present, should be positioned within the
borders of the figure and explains any symbols used in the figure image
note: Three types of notes (general, specific, and probability) can appear below
the figure to describe contents of the figure that cannot be understood from the
figure title, image, and/or legend alone
Line graph
Flow Chart Conceptual Model
Understand Properly
• Graphs are a subset of charts, meaning all graphs are charts, but not
all charts are graphs.
• Use "graph" when you want to specifically show the relationship
between variables using axes and lines/curves.
• Use "chart" when you want to visually represent any data, regardless
of relationships or data types.
• Graphs focus on relationships, while charts can focus on various
aspects of data.
Qualitative Data Analysis
Qualitative Data
• Qualitative data are data in the form of words.
• Examples: interview notes, transcripts of focus groups, answers to
open‐ended questions, transcriptions of video recordings, accounts
of experiences with a product on the Internet, news articles, and
the like.
• Qualitative data can come from a wide variety of primary sources
and/or secondary sources.
• The analysis of qualitative data is aimed at making valid inferences
from the often overwhelming amount of collected data.
Qualitative Data Analysis
• Qualitative analysis is (or should be) a rigorous and logical process
through which data are given meaning. Through analysis, we can
progress through an initial description of the data then, through a
process of disaggregating the data into smaller parts, see how these
connect into new concepts, providing the basis for a fresh
description.
Different approaches to qualitative research,
Grounded theory, ethnography and phenomenology, researchers often
using a combination of approaches in a research project.
One of the challenges of qualitative research is that there are no widely
accepted rules about how qualitative data should be analysed, other
than that the approach is generally inductive and involves the coding of
data.
Qualitative analysis as a circular process
Three Important Steps in Qualitative Data Analysis
1. Data reduction
• Qualitative data collection produces large amounts of data. The first step in
data analysis is therefore the reduction of data through coding and
categorization.
• Coding is the analytic process to make reduced, rearranged, and integrated
to form theory.
• The purpose of coding: draw meaningful conclusions about the data.
• Codes are labels given to units of text which are later grouped and turned
into categories. Coding is often an iterative process; you may have to return
to your data repeatedly to increase your understanding of the data (i.e., to
be able to recognize patterns in the data, to discover connections between
the data, and to organize the data into coherent categories).
Three Important Steps in Qualitative Data Analysis
2. Data display
• second major activity when analyzing qualitative data.
• Data display involves taking reduced data and displaying them in
an organized, condensed manner. Along these lines, charts,
matrices, diagrams, graphs, frequently mentioned phrases,
and/or drawings may help you to organize the data and to
discover patterns and relationships in the data so that the
drawing of conclusions is eventually facilitated.
• The selected data display technique may depend on researcher
preference, the type of data set, and the purpose of the display.
A matrix is, by and large, descriptive in nature, such as networks
or diagrams, allow you to present causal relationships between
concepts in your data.
Three Important Steps in Qualitative Data Analysis

3. Drawing conclusions
• Conclusion drawing is the “final” analytical activity in the process
of qualitative data analysis.
• It is the essence of data analysis; it is at this point where we
answer our research questions by determining what identified
themes stand for, by thinking about explanations for observed
patterns and relationships, or by making contrasts and
comparisons.
 Other Strategies
Content Analysis
• Content analysis is a research method used to evaluate the symbolic
contents of recorded communications.
• It can be applied to various forms of media, such as newspapers,
websites, and interviews. By coding the text into categories and using
conceptual or relational analysis, researchers can identify the
presence and frequency of certain words, themes, or characters.
• The results of this analysis can be used to make inferences about the
messages in the text and their effects on the receiver.
• Content analysis can be used to analyze press coverage of election
campaigns, study the impact of advertisements on consumer
behavior, and understand online media's communication processes.
Content Analysis Methods
1.Conversation Analysis:
1. Analyzes conversations in interviews and school settings.
2. Examines how judgments are made.
3. Assumes conversations have stable patterns, are sequentially organized,
and well-grounded in data.
4. Reference: Silverman, 2000.
2.Discourse Analysis:
1. Analyzes conversations and texts from documents like newspapers,
advertisements, conference proceedings, speeches, and transcripts.
2. Focuses on the context of discourse, power relations, and ideologies.
3. Reference: Fairclough, 1995.
Narrative analysis
• Narrative analysis is an approach that examines the stories people tell
about themselves and how they impact their lives.
• Data for narrative analysis is often collected through interviews,
where participants are asked to describe specific incidents in their life
history.
• Narrative analysis focuses on the process and temporal order of
events, and how they relate to other incidents.
• This approach has been used to study impulsive buying, customers'
responses to advertisements, and relationships between service
providers and consumers.
Grounded theory
• represents an inductive investigation in which the researcher poses
questions about information provided by respondents or taken from
historical records.
• The researcher asks the questions to him or herself and repeatedly
questions the responses to derive deeper explanations. Grounded theory
is particularly applicable in highly dynamic situations involving rapid and
significant change. Two key questions asked by the grounded theory
researcher are “What is happening here?” and “How is it different?”
• The distinguishing characteristic of grounded theory is that it does not
begin with a theory but instead extracts one from whatever emerges from
an area of inquiry.
Analytic induction
• Analytic induction is an approach to qualitative data analysis in which
universal explanations of phenomena are sought by the collection of
(qualitative) data until no cases that are inconsistent with a hypothetical
explanation of a phenomenon are found.
• Analytic induction starts with a (rough) definition of a problem (“why do
people use marijuana” is a famous example), continues with a hypothetical
explanation of the problem (e.g., “people use marijuana for pleasure”), and
then proceeds with the examination of cases (e.g., the collection of data via
in‐depth interviews). If a case is inconsistent with the researcher's hypothesis
(e.g., “I use marijuana for health reasons”), the researcher either redefines the
hypothesis or excludes the “deviant” case that does not confirm the
hypothesis. Analytic induction involves inductive – rather than deductive –
reasoning, allowing for the modification of a hypothetical explanation for
phenomena throughout the process of doing research.
BIG DATA
• “Big data” is a popular term nowadays that is commonly used to
describe the exponential growth and availability of data from digital
sources inside and outside the organization.
• The term originally related to the volume of data that could not be
processed and analyzed (efficiently) by traditional methods and
tools.
• The original definition of big data focused on structured data, but
most researchers and practitioners have come to realize that a lot of
information resides in massive, unstructured or semi‐structured data,
such as texts (think weblogs, Twitter, and Facebook), images,
clickstreams, and/or videos.
Big Data
• New technologies have the ability to measure, record, and combine
such data and that is why big data has great potential for making fast
advances in many academic disciplines and improving decision
making in organizations.
• The main characteristics of big data are its volume, its variety and its
velocity, where volume refers to the amount of data, variety refers to
the many different types of data, and velocity refers to the pace at
which data become available from business processes, social networks,
mobile devices, and the like. Occasionally, additional “V”s are put
forward, most notably veracity, which refers to the biases, noise and
abnormality that are often present in big data. Big data holds many
promises for organizations and managers. However, it also provides
them with new challenges and dilemmas, for instance with regard to
how big data should be managed, processed, and analyzed. That is
why many organizations find it difficult to successfully exploit the
value in big data.