Data Interpretation means understanding, organizing, and interpreting given data, as to get meaningful conclusions. Usually, all government competitive examinations devote an independent complete section based on data interpretation questions.
In this article, we are going to cover the key concepts of Data Interpretation along with the various types of questions, and tips and tricks. We have also added a few solved examples, which candidates will find beneficial in their exam preparation. Read the article thoroughly to clear all the doubts regarding the same.
Data interpretation is the process of reviewing provided data and using these data for calculating the required value. The data can be provided in various forms like in table format, pie chart, line graph, bar graph, or a combination of these.
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Purchase Now Want to know more about this Super Coaching ? Explore SuperCoaching NowData interpretation method is a way to analyze and help people make sense of numerical data which has been collected, analyzed and presented. When data is collected, it normally stays in a raw form which may be difficult for the normal person to comprehend and that is why analysts always try to break down the information gathered so that others can make sense of it.
For instance, when Founders present their pitches to his or her potential investors, they do that by interpreting the data such as market size, growth rate and so on for better understanding. There are 2 principal methods by which data interpretation can be done:
Qualitative data interpretation method is used to analyze qualitative data which is often termed as categorical data. This approach uses texts, rather than numbers or patterns to represent data. Qualitative data requires first to be coded into numbers before it can be analyzed. As the texts are usually cumbersome and take more time. Coding done by the analyst is also documented so that it can be reused by others and also examined further.
There are 2 main types of qualitative data, such as nominal and ordinal data. These two data types are both performed using the same method, but ordinal data interpretation is easier than that of nominal data.
In most of the cases, ordinal data is usually labeled with numbers throughout the process of data collection, and so many times coding may not be required. This is different from nominal data which still requires to be coded for proper interpretation.
Quantitative data interpretation method is used to analyze quantitative data which is also termed as numerical data. This data type includes numbers and is therefore can be analyzed with the help of numbers and not texts.
Quantitative data can be categorized into two main types, such as discrete and continuous data. Continuous data is further divided into interval data and ratio data, with all the data types being numeric.
Due to its natural existence as a number, analysts do not need to use the coding method on quantitative data before analyzing it. The process of analyzing quantitative data requires statistical modeling techniques namely standard deviation, mean and median.
Data visualization is a graphical representation of information and data. By applying visual elements like charts, graphs, and maps, data visualization tools give a convenient way to see and understand trends, outliers, and patterns in data.
In the world of Big Data, data visualization tools and technologies are necessary to interpret massive amounts of data and make data-driven judgments. Our eyes are drawn to colors and patterns. We can immediately identify red from blue, and square from a circle. Our culture is visual, including everything from art and advertisements to TV and movies.
Data visualization is another form of visual art that seizes our interest and holds our eyes on the message. When we see a chart, we immediately see trends and outliers. If we can see something, we internalize it fast.
All-in-One Pass For All Your ExamsThe various types of Data Interpretation are given below:
1. Tabular DI: In Tabular DI, data is provided in horizontal rows and vertical columns called tabular form. A table is one of the simplest and most convenient tools used for summarizing data and presenting it in a meaningful way. In a table, data is arranged systematically in columns and rows. While reading a table, the following parts need to be given careful observation.
2. Pie Charts: It is a circular chart divided into various sectors. The sectors of the circle are constructed in such a way that the area of each sector is proportional to the corresponding values of information provided. In pie charts, the total quantity is distributed over a total angle of 360° or 100%.
Pie graphs have the shape of a pie and each slice of the pie represents the portion of the entire pie allocated to each category. Here the data could be presented and converted into 360 degrees or in percentages or in fractions. Many times, Statisticians may use exact figures against these sectors inside or outside as the case may be. Pie charts can be classified into two main types such as Exploded Pie Chart and Doughnut Pie Charts.
3. Bar Graph: In Bar Graph, data is represented as horizontal or vertical bars. One of the parameters is given on the x-axis and other on y-axis. Here we need to understand the given information and thereafter answer the given questions. A bar graph or a bar chart presents the grouped data with the help of rectangular bars. These bars are either horizontal or vertical and their lengths are proportional to the value that they represent.
There are 2 axes in the graph in which one represents particular categories being compared and the other axis shows a discrete value. Those bar graphs in which clustered groups of more than one bar are presented are known as grouped bar graphs, And, bar graphs in which bars are divided into sub-parts to show cumulative effect are known as cumulative bar graphs or stacked bar graphs.
4. Line Graph: A line graph shows the quantitative information or a relationship between two changing quantities with a line or curve. We are required to understand the given information and thereafter answer the given questions. A line graph or a line chart is a geographical representation of the change in two variables over a period of time. A line graph is created by connecting various data points.
Each data point is obtained as a result of plotting a point when we are given the value of two variables such as one independent variable and one dependent variable. Line graphs are a small but important part of data interpretation. In line graph questions, candidates are provided with certain data in the form of a line graph. The data may be related to various categories such as the following, Average income and expenses, Comparing pie charts, population or demographics study, demand and supply, funds, distribution and utilization etc.
5. Caselet DI: In Caselet DI, a long paragraph is provided and with that as the basis, some set of questions are asked. We need to understand the given information and then answer the given questions.
Students can find different tips and tricks to solve questions based on Data Interpretation:
