Data collection plays a very crucial role in the statistical analysis. In research, there are different methods used to gather information, all of which fall into two categories, i.e. primary data, and secondary data. As the name suggests, primary data is one which is collected for the first time by the researcher while secondary data is the data already collected or produced by others. There are many differences between primary and secondary data, which are discussed in this article. But the … [Read more...]

Before elucidating the difference between IQ and EQ, let us first understand, what these terms actually mean. EQ or say Emotional Quotient refers to a person's ability to understand his/her emotion along with the other person's emotions, whereas IQ stands for Intelligence Quotient indicates a person's intelligence level. Many people hold that IQ is more important for a person to achieve success in life while researchers hold that people with high EQ are more successful in their careers. So, … [Read more...]

Research is the most widely used tool to increase and brush-up the stock of knowledge about something and someone. In the field of marketing, business, sociology, psychology, science & technology, economics, etc. there are two standard ways of conducting research, i.e. qualitative research or quantitative research. While the qualitative research relies on verbal narrative like spoken or written data, the quantitative research uses logical or statistical observations to draw … [Read more...]

In our earlier article, we've discussed probability and non-probability sampling, in which we came across types of probability sampling, i.e. Stratified Sampling and Cluster Sampling. In stratified sampling technique, the sample is created out of the random selection of elements from all the strata while in the cluster sampling, all the units of the randomly selected clusters form a sample. In stratified sampling, a two-step process is followed to divide the population into subgroups or … [Read more...]

Sampling means selecting a particular group or sample to represent the entire population. Sampling methods are majorly divided into two categories probability sampling and non-probability sampling. In the first case, each member has a fixed, known opportunity to belong to the sample, whereas in the second case, there is no specific probability of an individual to be a part of the sample. For a layman, these two concepts are the same, but in reality, they are different in the sense that in … [Read more...]

Survey and questionnaire are the two methods of acquiring data, from the respondents, based on interrogation.  Both of them are methods used in the gathering primary data, whether it is for the marketing of a product, or collecting information from people on social issues. Surveys are the conventional way of carrying out research in which the respondents are questioned, with respect to their behaviour, awareness, motivations, demographics, and other characteristics. Conversely, Questionnaires … [Read more...]

Many people mistakenly juxtapose knowledge for wisdom, as both are nouns and used in the English language. But the truth is that they are different. There are many quotes and sayings of knowledge and wisdom given by the experts and great personalities that define the significance of these two terms. Sir Francis Bacon said "Knowledge is power" while Gautam Buddha, hold that "Wisdom is highest of all five virtues". Knowledge is the accumulation of information, learned through education or … [Read more...]