The Classification Guru Ltd’s Post

Also known as categorisation, spend data classification is when you categorise or classify your data into a bucket from a taxonomy or a category tree. Find out what that does in our blog 👉 https://lnkd.in/e_zcBF33

All data fits into one of two categories - qualitative 📊 or quantitative 📈 And while neither is better than the other, they each come with their own benefits and challenges. So what's the difference between the two? 🤔 👉 Quantitative data refers to any information that can be quantified. If it can be counted or measured, and given a numerical value, it's quantitative in nature! 👉 Qualitative data analysis describes information and cannot be measured or counted. It refers to the words or labels used to describe certain characteristics or traits. For a deeper look at these two types of data, when to use them, and their benefits keep reading here: https://bit.ly/4bPxavB

Focusing on data quality during each stage of a #marketresearch project is critical.

In statistics, the term percentile is a measure used to understand the distribution of data in a dataset. It’s a concept that allows us to rank and compare values, providing a deeper understanding of where a particular data point stands in relation to the rest of the data...

Avoid letting the lack of data keep you from setting a performance target. While it is always better to have data or better data, our suggestion is to embrace the zero! Here’s how. https://lnkd.in/gKpMzftP

9 Best Data Newsletters to Subscribe to in 2024 Want to keep up with the latest and greatest news in the data industry, but you're not quite sure how? We've compiled a list of some of our favorite newsletters and blogs that are worth getting sent to your inbox. You're bound to learn some great approaches to handling data, see opinionated takes on the future of the industry, and have your mind get blown a time or two. https://lnkd.in/disEQNHp

If data companies sometimes get their data wrong, you can be certain marketers and journalists do as well. The latest from The Good Data Project: https://lnkd.in/gwEJtdbH #data #whitepaper #researchpaper

Happy Monday! Here is your term of the week! 🔍 💡 Ever heard of Data Enrichment? 🤔 Data Enrichment, sometimes known as data enhancement, is the process of adding additional data to an existing dataset. For example: 🌍 Adding country data to a dataset that includes cities 📊 Adding a new field with a calculated KPI based on existing fields 🔄 Separating the values in one field into two separate fields Any terms you would like to see next? Comment below! Learn more with our Marketing Data Glossary here: https://lnkd.in/eiKHVU62

In today's data-driven world, information is abundant, but true understanding is rare. That's where data insights come in. 💡Head over to our blog post to dive deeper and discover how to unlock the power of data for better decision-making: https://lnkd.in/g7UHnSmW You may also find out more at https://lnkd.in/gPCS4fZK

Are you aware of Data Act? How this will change your data activities in your environment?