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2019 | OriginalPaper | Chapter

2. From Disarray to Dataset

Author : Thomas Cleff

Published in: Applied Statistics and Multivariate Data Analysis for Business and Economics

Publisher: Springer International Publishing

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Abstract

Let us begin with the first step of the intelligence cycle: data collection. Many businesses gather crucial information—on expenditures and sales, say—but few enter it into a central database for systematic evaluation. The first task of the statistician is to mine this valuable information. Often, this requires skills of persuasion: employees may be hesitant to give up data for the purpose of systematic analysis, for this may reveal past failures.

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Footnotes
1
The Ifo Business Climate Index is released each month by Germany’s Ifo Institute. It is based on a monthly survey that queries some 7000 companies in the manufacturing, construction, wholesaling, and retailing industries about a variety of subjects: the current business climate, domestic production, product inventory, demand, domestic prices, order change over the previous month, foreign orders, exports, employment trends, 3-month price outlook, and 6-month business outlook.
 
2
For more, see the method described in Chap. 10.
 
3
A metric scale with a natural zero point and a natural unit (e.g. age).
 
4
A metric scale with a natural zero point but without a natural unit (e.g. surface).
 
5
A metric scale without a natural zero point and without a natural unit (e.g. geographical longitude).
 
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Metadata
Title
From Disarray to Dataset
Author
Thomas Cleff
Copyright Year
2019
Publisher
Springer International Publishing
DOI
https://doi.org/10.1007/978-3-030-17767-6_2