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Thursday, 28 September 2017

Statistical Data Collection Methods - Making Sense of the Mine Field

When use correctly, statistical data can be used to improve an array of areas from efficiency, to lead time, and profit. But in order to make improvements you need to know how the data has been collected initially. This article is about Statistical data collection methods.

There are four main Statistical data collection methods:

Census
Sample survey
Experiment
Observational study

Each of these methods has it's own set of advantages and drawbacks, that's why one must be aware of all their characteristics to be able to choose the right method according to the individual situation. Here is a brief definition of each method:

Census - A census is a case study that acquires data from every population member. For the majority of cases, a census is not practical, due to the large amount of time and cost required to conduct it.
Sample Survey - A sample survey is a case study that obtains data only from a subset of the entire population, not every member, as oppose to Census, so it's much more practical and efficient to carry out, but the results might not be that accurate. For best results using this method it may be appropriate sub-categorize your target group and take a sample set from each sub-category. A basic example would be different ethnic groups.

Experiment - The experiment is a controlled study in which researchers try to understand the cause-and-effect relationships, how one thing affects another.

Observational study - Observational studies also try to discover the cause and effect relations, but unlike experiments, they are not able to control how subjects are assigned to groups.

As it was already pointed out, every method has its own pros and cons, so one must be able to know and make a decision regarding which method should be applied in a given situation. There are three factors that should affect this decision and they are - resources, generalizability, causal inference.

If resources are the main factor, then obviously with such a large population, a sample survey has an advantage over census. If the sample survey is well designed, then it can definitely provide results that are really close to the actual figures (high level of accuracy), and it will be done in a quicker and cheaper manner, requiring less man power than a census.

Generalizability stands for applying findings from a sample study to a larger population. Generalizability requires random selection. In case the participants in a study are randomly selected from a larger population, it is appropriate to generalize study results to the larger population, otherwise it might provide accurate results.

Statistical data collection methods are essential for sustainable economics, social and environmental development. We are living in the 'Information Age' where certain data sets are growing in size and complexity, reaching massive proportions, that's why such data collection methods are so important.

Article Source: http://EzineArticles.com/1547967

Tuesday, 26 September 2017

Web Data Extraction Services and Data Collection Form Website Pages

For any business market research and surveys plays crucial role in strategic decision making. Web scrapping and data extraction techniques help you find relevant information and data for your business or personal use. Most of the time professionals manually copy-paste data from web pages or download a whole website resulting in waste of time and efforts.

Instead, consider using web scraping techniques that crawls through thousands of website pages to extract specific information and simultaneously save this information into a database, CSV file, XML file or any other custom format for future reference.

Examples of web data extraction process include:

• Spider a government portal, extracting names of citizens for a survey
• Crawl competitor websites for product pricing and feature data
• Use web scraping to download images from a stock photography site for website design

Automated Data Collection

Web scraping also allows you to monitor website data changes over stipulated period and collect these data on a scheduled basis automatically. Automated data collection helps you discover market trends, determine user behavior and predict how data will change in near future.

Examples of automated data collection include:

• Monitor price information for select stocks on hourly basis
• Collect mortgage rates from various financial firms on daily basis
• Check whether reports on constant basis as and when required

Using web data extraction services you can mine any data related to your business objective, download them into a spreadsheet so that they can be analyzed and compared with ease.

In this way you get accurate and quicker results saving hundreds of man-hours and money!

With web data extraction services you can easily fetch product pricing information, sales leads, mailing database, competitors data, profile data and many more on a consistent basis.

Article Source: http://EzineArticles.com/4860417