Why data interpretation is important?
Data Interpretation is important for every company and there are always few Analyst who track, share and interpret data for the company. It helps a company understand it’s standing in the market, to project the future in terms of growth, where it went bad, what all month/years were profitable, where a company lacked. The parameters involved can be anything, from time, product, profit, loss anything to everything. It helps a company to keep track of the results and also project about the sustainability of the company from time to time.
Now, if we keep the professional world aside, then also data interpretation is a very important field. There is a lot of weight that this section has in a lot of exams which makes you enter the premium institutes of India. The best thing about this section is, there is one or more chart that is given, and then it is followed by a minimum of 4 questions generally. This gives you an edge to score more. If you interpret the data correctly, then the chances are high that you will have correct answers for all the questions following the chart. This comes under group questions, where there is a chart or information that is given, based on which 4-5 questions are framed.
So, the first question that comes in everybody’s mind is: How many types of data interpretation questions or charts are there?
Mostly, there are 4 types:
- Bar Graphs or Bar Charts
- Line Graphs or Line Charts
- Pie Graph or Pie Charts
- Table Charts or Tabular Data
Apart from this, there is a lot of data given in a paragraph, based on which you have to comprehend the data. Mainly these comes under what is generally called as problems involving “round table conference” or “family tree“.
In round table conference, you have to make sure that you understand the paragraph or the given statements properly and make a proper and correct diagram because the questions followed are mainly like: Who is sitting to the right/left of person A ? or Who is sitting opposite to person A ?
In a family tree questions, it’s important to ready carefully the relationship based on the data that is given. The questions that are followed generally are: How many brothers/sisters does A have ? or Who is the the child of A ? or How many children does A have ?
What is important in Data Interpretation questions is, how fast can you read and observe, how fast can you calculate, what is the information that does not require more attention, how to approximate. Once you get the understanding of all of this, there is nothing more left except you getting the correct answers and you opening the gates for yourself to the premium and most renowned institutes of India.
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