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Foundation of Business Analysis
Data analysis report for Food for Fork Restaurant
1. Introduction
This report is composed to address the problems of the client Jenkins around his business initiative plan. This report will provide important insights into many relevant issues of his business. In the first section, this report will briefly review the analytical methods often used in business researches. Afterwards, this paper will use various univariate, bivariate and multivariate analytical tools to approach ten research questions. Basing upon these discussions, this report will make some recommendations to Jenkins about his business plan.
2. Method of analysis
The choice of statistical analysis is a very important work. The right choice of analytical method should not only help solve the issue to be analysed, but should also have strong robustness. The choice of statistical analytical method is dependent upon mainly three factors, namely the scale of data, the research design and the fundamental assumptions (Nargundkar, 2008, p. 120). The scale f data can also be understood as the type of data, which is usually categorized into categorical and quantitative data. Categorical data can only be analyzed through univariate analysis and some specific types of bivaraite analysis, for example the chi-square analysis. Therefore, research question 3, 5, 6 could not be approached by using multivariate analysis since all of them only involves categorical variables. The second factor that affects the choice of analytical methods is the research design. As it is suggested, univariate analysis is only used to analyse the feature of one simple variable, while bivariate analysis and multivariate analysis are applied to analyse the relationship between two variables or among more than two variables (Rosenthal, 2012, p. 6). Therefore, research question 1 and 2 should be approached through univariate analysis, while research question 3 to 9 should be approached through bivariate
Data analysis report for Food for Fork Restaurant
1. Introduction
This report is composed to address the problems of the client Jenkins around his business initiative plan. This report will provide important insights into many relevant issues of his business. In the first section, this report will briefly review the analytical methods often used in business researches. Afterwards, this paper will use various univariate, bivariate and multivariate analytical tools to approach ten research questions. Basing upon these discussions, this report will make some recommendations to Jenkins about his business plan.
2. Method of analysis
The choice of statistical analysis is a very important work. The right choice of analytical method should not only help solve the issue to be analysed, but should also have strong robustness. The choice of statistical analytical method is dependent upon mainly three factors, namely the scale of data, the research design and the fundamental assumptions (Nargundkar, 2008, p. 120). The scale f data can also be understood as the type of data, which is usually categorized into categorical and quantitative data. Categorical data can only be analyzed through univariate analysis and some specific types of bivaraite analysis, for example the chi-square analysis. Therefore, research question 3, 5, 6 could not be approached by using multivariate analysis since all of them only involves categorical variables. The second factor that affects the choice of analytical methods is the research design. As it is suggested, univariate analysis is only used to analyse the feature of one simple variable, while bivariate analysis and multivariate analysis are applied to analyse the relationship between two variables or among more than two variables (Rosenthal, 2012, p. 6). Therefore, research question 1 and 2 should be approached through univariate analysis, while research question 3 to 9 should be approached through bivariate
References: Nargundkar, R. (2002). Planning the Data Analysis, in Marketing Research: Text and Cases, Rohini, Delhi: Tata McGraw-Hill. Rosenthal, J. A. (2012). Chapter 1. Introduction and Overview. In Statistics and Data Interpretation for Social Work, New York, U.S.: Springer Publications.