Data

Data are the information about facts or numbers collected to be examined and used to help with decisions. Data are the basic raw materials of statistics. In statistics, data are classified into two broad categories: .Quantitative data and Qualitative data. .

Quantitative data are those that can be quantified in definite units of measurement. These refer to characteristics whose successive measurements yield quantifiable observations. Eg. Age, income, number of firms etc .

Qualitative data refer to qualitative characteristics of a subject or an object. A characteristic is qualitative in nature when its observations are defined and noted in terms of the presence or absence of a certain attribute in discrete numbers. These data are further classified as nominal and rank data. Eg.