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Lesson Posted 4 days ago IT Courses/SPSS Training Functional Training/Business Analysis Training IT Courses/Data Analysis

What Is SPSS Software (SPSS Data Analysis Tool) ?

Gaurav Mishra

I provide training for the SAS (base and advance), R programming, SPSS, Excel (base and advance), Business...

SPSS is a Windows-based program that can be used to perform data entry and analysis and to create tables and graphs. SPSS is capable of handling large amounts of data and can perform all of the analyses covered in the text and much more. SPSS is a widely used program for statistical analysis in social... read more

SPSS is a Windows-based program that can be used to perform data entry and analysis and to create tables and graphs. SPSS is capable of handling large amounts of data and can perform all of the analyses covered in the text and much more.

SPSS is a widely used program for statistical analysis in social science. It is also used by market researchers, health researchers, survey companies, government, education researchers, marketing organizations, data miners, and others.

The Uses of SPSS Software. SPSS, which stands for a statistical package for the social sciences, is an application that can aid in quantitative data handling. Before SPSS, researchers had to run statistical tests on data sets by hand. However, SPSS automates this process.

i. Data Collection and Organization:

SPSS is often used as a data collection tool by researchers. The data entry screen in SPSS looks much like any other spreadsheet software. You can enter variables and quantitative data and save the file as a data file. Furthermore, you can organize your data in SPSS by assigning properties to different variables. For example, you can designate a variable as a nominal variable, and that information is stored in SPSS. The next time you access the data file, which could be weeks, months or even years, you'll be able to see exactly how your data is organized.

ii. Data Output:

Once data is collected and entered into the data sheet in SPSS, you can create an output file from the data. For example, you can create frequency distributions of your data to determine whether your data set is normally distributed. The frequency distribution is displayed in an output file. You can export items from the output file and place them into a research article you're writing. Therefore, instead of recreating a table or graph, you can take the table or graph directly from the data output file from SPSS.

iii. Statistical Tests:

The most obvious use for SPSS is to use the software to run statistical tests. SPSS has all of the most widely used statistical tests built-in to the software. Therefore, you won't have to do any mathematical equations by hand. Once you run a statistical test, all associated outputs are displayed in the data output file. You can also transform your data by performing advanced statistical transformations. This is especially useful for data that is not normally distributed.

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Lesson Posted on 01 Feb Tuition/MBA Tuition Tuition/BBA Tuition Functional Training/Business Analysis Training

People Preparing For Case Discussion Or Guesstimate Can Go Through This Crucial Point

Sujoy D.

1. Strong concept building classes. 2. Weekly tests in weak areas for students to improve their confidence. 3....

The focus of this session is to bring to your notice case solving skills so that you can incorporate them from the very start of your preparation. The following are the skills which would be explained further: 1. Asking Preliminary Questions. 2. Having and Conveying an Overall Strategy & Sub-Strategies. 3.... read more

The focus of this session is to bring to your notice case solving skills so that you can incorporate them from the very start of your preparation.

The following are the skills which would be explained further:

1. Asking Preliminary Questions.

2. Having and Conveying an Overall Strategy & Sub-Strategies.

3. Problem Isolation Tools:

  • Segmentation.

  • Company Specific or Industry wide issue.

  • Hypothesis driven approach.

4. Improving Drill Speed (If there are 4 possible causes to a problem, knowing how to assign priority to the investigation process to reach the solution faster).

  • Using the 80/20 rule.

  • Benchmarking with competition.

  • Using Business insights.

1. Asking Preliminary Questions: You’re given a problem statement like “Client ABC which is part of the X industry has lost 20%  profits, please suggest recommendations to turnaround the problem”. The next thing to do is ask some preliminary questions. This is the most underestimated part of the case interview. Its importance cannot be stressed enough.

Preliminary questions help you to scope out the problem, setting the boundary walls in which analysis needs to be done. It also enables you to get a ‘look and feel’ of your client’s company. At the same time it communicates to the interviewer that you're thinking of the different angles to the problems and are checking what needs to be done. Here are different types of preliminary  questions to ask:

i) Clarifying the objectives: In standard profitability cases, usually, there is little ambiguity like "Our client is an electronics manufacturing company. You are hired to find out why our profits in the mobile division have decreased by 20% in the last year". However there are ambiguous questions also for example, "Our client is an electronics manufacturing company with a sales stagnation issue in its mobile division. Find out what is happening". There are several ambiguities here. Sales could mean revenues or #units sold. You don’t know what  are the different divisions of the company and if the mobile division’s sales can be treated and  analysed independently. You’re not sure of why stagnation of profits is even a problem, because at  the end of the day the company is still profitable. These can be good questions to ask:

  • What are the different divisions of the company?

  • Do I have to look at stagnation in the mobile division only?

  • How much were our sales growing by earlier, since when has there been stagnation?

  • Why is stagnation of sales even a problem?(Did the company expect them to keep growing, why didit have this expectation.)

  • By sales do you mean revenue or #units sold?

A typical market entry case statement looks like this, "Our client is X company and they are wondering if they should enter the Y market? This is a very ambiguous question. The problem here is that the decision to enter Y market can be based on different reasons such as:

  • Client’s ability to capture a market share target in the first year.

  • Client’s ability to achieve a profit target in the first two years.

  • Strategic reasons (long term profit); Example- Amazon entered the e-reading market through Kindle even though it was a zero profit venture. The price of Kindle was so low that they were just breaking even. The strategic reason for entering the e-reading market was so that they can push sales of their digital books.

A good clarifying question to ask to find out what an interesting market means according to the client is:

a) “What metric should we use to decide if we should enter the market or not?”

b) “Is there any reason why the company is considering market Y in particular?”

ii) Understanding Client’s company:

1. Product

2. Geography

3. Value chain

This is a simple value chain:
Production --> Distribution --> Retailing
It is useful to know upfront which part of the value chain the company operates in as it better helps you figure out what the company can control and what it can’t. Together-product, geography and value chain-give you a good ‘look and feel’ of the company, makes it easy for you to visualize the company and puts you in a comfortable spot to analyze the rest of the case.

2. Having and conveying overall strategies: After asking the requisite preliminary questions to understand the problem statement and the  Client’s company, you must proceed by laying out the Overall Strategy to solve the case. Typically, it is simply a breakdown of the case into simpler parts, the analysis of which will help you  give direction to the subsequent parts you are tackling and eventually to the final recommendations.

Example : Let’s say there is a market entry case about introducing a luxury car in the Indian market. After asking the requisite preliminary questions, you can state your overall strategy as follows: “First, I will estimate the potential profits that can be made in the Indian market for the Car. After establishing that this will be a sufficiently profitable venture for Company, I will find out the feasibility of setting up the entire value chain. Finally, we can discuss the potential challenges after which I will give my final recommendation to the client.”

3. Problem Isolation tools:

i) Segmentation: Segmentation is breaking a problem into smaller, simpler parts.
Example: Narrowing down the broad problem of “Revenues guitar sales is down by 10%” to a  specific problem of “sales having declined of the electric guitar segment due to a production issue”. Segmentation can be done in different MECE (Mutually Exclusive & Comprehensively Exhaustive) ways:

  • Geography.

  • Value chain.

  • Product parameter: (Color, Price, Size).

  • Distribution channels.

Segmentation should be such that:

a) Segmentation is Simple: We will explain this through an example. Let’s say for a particular case, we want to segment the  fuel transportation cost of trucks. This is the complicated way of segmenting all at once.

Transport Cost= (#Trucks) x (#Trips per Truck) x (Distance travelled per trip)/ (Avg. mileage) x (Cost of fuel)

While the above segmentation is correct, here is a simpler way of doing the same segmentation,

Transport Cost= (#Trucks) x (Cost per Truck)

= (#Trucks) x (#Trips per Truck) x (Cost per Trip)
= (#Trucks) x (#Trips per Truck) x (Fuel per Trip) x (Cost of fuel)
= (#Trucks) x (#Trips per Truck) x (Distance travelled per trip)/ (Avg. mileage) x (Cost of fuel)

b) Segmentation is Reasonable: When segmenting why Guitar Sales are down, unless there is sound  logic it would not be reasonable to segment guitar sales by gender of customers.

c) Information of component parts is easily obtainable It’s better to break down monthly revenue of a coffee shop as,

Monthly revenue= (#Transactions in a month) x (Spend per transaction); instead of

Monthly revenue= (#Unique Customers per month) x (#Transaction per customer) x (Spend per Transaction)

Since it’s difficult to keep track of #Unique Customers but easier to keep track of #Transactions and Spend per transaction. Unless knowing #Unique Customers is crucial to your analysis avoid segmenting that way. Also notice that the former segmentation is ‘Simpler’ than the latter. How to use Segmentation? Ask “What has changed” within the segments.

Candidates when segmenting often lose track of why they are segmenting. Suppose if profits have changed (reduced), then something somewhere has gone wrong or changed to cause the change in profits. By segmenting we are trying to get at what specifically has "changed". So it’s important to  not only segment but also ask "What has changed?".

For example: Let’s say profit margins (Profit margin = Profit/Revenue) for guitar sales has gone down and we know there are two channels for distribution, Company owned stores and third-party stores. Since overall profit margin will depend on profit margins of each channel as well as the revenue split across both channels.

Think about this, it’s not enough to know the current profit margin and split in revenues of each segment. You need to ask if the profit margin for each segment has "changed" or if the revenue split has "changed" to identify what is causing the problem.

ii) Company Specific or Industry Wide issue:

4. Improving Drill Speed:

i) Using the 80/20 rule: The 80/20 rule here signifies analyzing the branch responsible for 80% of the problem first and then analyzing the branch responsible for 20% of the problem.

In short, analyze the more important things first. You need to know the weights of sub-parts to a
problem and choose which sub part to analyze first. Let’s say costs are up by 50%. You need to find out why. You know that 60% of the cost is Raw-Materials and 40% is Manufacturing cost. If both costs have gone up by 50%, you should begin by analyzing why raw material cost has gone up rather than manufacturing cost since that is the bigger chunk of the problem.

ii) Competitor benchmarking: Benchmarking different metrics with respect to competitors better helps distinguish where we are lagging behind industry. Let’s say the reason why we are losing market share to competitors is because of a higher price of our product which in turn is because of a higher cost of our product.

Let’s say cost comprises of manufacturing, distribution and marketing related costs. Now it’s useful to benchmark each of these costs with respect to competitors to get a sense of where we are lagging behind industry. If our distribution cost is twice as much as industry but production and marketing costs are almost the same, then distribution cost should be analyzed further even if on an absolute scale our production & marketing costs are greater than distribution costs.

iii) Business Insights: Sometimes business insights can help you gauge which branch to drill first. This should be used carefully since your assumptions of the business may lead you to assign a wrong priority of drilling. It’s important to use this in conjunction with the previous two ways of drilling effectively. There could be several parameters which could be compared with competition for this:

Customer Characteristics:

i. Customer segments (age group, gender, income, geography, type of requirement) targeted.

ii. Product Characteristics:

  • Laptop price

  • Specifications-battery life, hard disk, RAM, graphics, monitor size, etc.

  • After sales services, complimentary products

iii. Brand image.

iv. Sales and Marketing:

  • No. of Retail outlets, location of outlets, visibility in stores, sales representatives.

  • Discounts & offers.

  • Online marketing.

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Asked 5 hrs ago Functional Training/HR Training/Training and Development

I have 12 yrs of work experience with BPO industry, and I would like to explore with data analyst work,... read more

I have 12 yrs of work experience with BPO industry, and I would like to explore with data analyst work, which when I researched got to know that you need to be good in Maths, so now I need to learn these excels in advance for my quality analysts profile, team leader profile. If you can guide me further on this as to what and where can be advanced excel be used in better ways?

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Answered 4 days ago Functional Training/Robotics Hobby/Summer Camp/Robotics & Technology

Rocket Pathshala

Sophia's incredible human likeness, expressiveness, her increasing intelligence and remarkable story is just amazing. She is an evolving genius machine.
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Lesson Posted on 05 Feb Functional Training/Internet & Digital Media/Social Media Marketing (SMM) Training

What And When To Post On Facebook?

Edusmart Skills

EduSmart Skills is an online platform where both the teacher and student come face to face online to...

It is apparent that Facebook’s organic reach is continuously declining. Because of the constantly evolving technical algorithms, it’s been gradually troublesome for pages to show up in newsfeed for as long as couple of years. Accordingly, organizations and advertisers are searching for hack... read more

It is apparent that Facebook’s organic reach is continuously declining. Because of the constantly evolving technical algorithms, it’s been gradually troublesome for pages to show up in newsfeed for as long as couple of years. Accordingly, organizations and advertisers are searching for hack and methodologies they can attempt to enable their post and presence more noticeable. This includes everything from engagement-centered procedures and tactics to focus on posts.

Yes it includes, "What to post and when to post on Facebook?"

It can be strong being an online networking chief in charge of keeping up a Facebook page for a professional. You have to draw in your fans, make new ones, produce drives, addition web movement, and deal with your online client benefit. This can be achieved by posting the correct substance at the correct circumstances. Simple, isn’t that so?

i. Finding the best time to post to Facebook can enormously enable your business to emerge and achieve a greater amount of your group of visitors and audience, avoiding it can result in loss of organic reach. In any case, knowing the best circumstances to post, can be resolved by best Facebook marketing online course available with us.

ii. Exploit Facebook Insights and its current moves to locate the best time to post on Facebook, better understand your group of spectators, and make the best Facebook content for them.

iii. Get a track when your fans online: Truly, expecting to plan your Facebook Page’s content when the larger part of your fans are online is vital for expanding engagement, however the peak fan rate may not be the ideal time. You should attempt to discover your engagement sweet spot by deciding the crossing point of time when major share of your involved crowd is on Facebook and the time when the slightest general posting is happening.

iv. Track of your Post Engagement: After you’ve initiated to take consider at the finest time to post, Facebook Insights’ different segments will enable you to decide the best content to post. Start with the “All Posts Published” analysis in the Posts tab. This segment exhibits your posts in reverse chronological request and authorizes you to get a decent take a glimpse at your posts’ compass and engagement. The result signifies the segment of your crowd or audience that is locked in with your substance, subsequently showing the quality and execution of your posts. In case one post is attaining a lot of individuals, yet not bringing much engagement, the News Feed Algorithm denotes the post as low quality. Extremely numerous low-quality posts hurt your possibility of showing up in your fans News Feed afterward. By habitually surveying the measurements recognized with the posts you distribute, you can start to comprehend what content your crowd is most accessible to and progress in the direction of making quality, illustration in content.

v. Consider Actions on Page tab: In the Actions on Page tab, you can discover what number of individuals tapped on your Call-to-Action catch, capture demographic of individuals who made that move, and whether they utilized a cell phone or PC when they selected the catch. Take a stab at changing your suggestion to take action, and after that check your Visions to determine what sorts of actions individuals are keen on.

vi. As you’re constructing your Page, attempt posting at various conditions and see what works best for you. There is no right or wrong time to learn new things; you can always jump in to join our best Facebook marketing online courses. Operate the gadgets, software and procedures discussed above to trace your ideal posting time and get hands on what to post and when to post on your Facebook page.

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Lesson Posted on 03 Feb Functional Training/Internet & Digital Media/Social Media Marketing (SMM) Training

Vocal To Vocabulary

Edusmart Skills

EduSmart Skills is an online platform where both the teacher and student come face to face online to...

Due to immense supremacy of globalisation around the world, English has been the most dominating and influencing language. English language is enormously user friendly when it comes to writing and communicating. I doubt there would be any individual who doesn’t find significance of English language... read more

Due to immense supremacy of globalisation around the world, English has been the most dominating and influencing language. English language is enormously user friendly when it comes to writing and communicating. I doubt there would be any individual who doesn’t find significance of English language in his life. There are approximately 218,632 words in the Oxford dictionary, out of which merely 171,476 words are portion of our daily usage. This is essentially due to the lack of vocabulary about the language in depth. The struggle of understanding a new word begins when we are not aware or in the habit of using that particular word in our daily routine.

There are four key aspects of learning any language: Listening, Speaking, Reading and Writing. Certain guidelines can be followed to bridge the gap between language and communication. Reading is the first and the most vital part of this global language. It plays an energetic role in improving your vocabulary skills. The more you read the better you will know and remember. Curiosity about any new word should be there. Your motivation should be to learn at least two to three new words every day. The method should include understanding the exact meaning of the word and employing it throughout your daily conversations.

Here are some tips which you should inculcate in your lifestyle:

  • Read as much as possible: Novels, newspapers and/or magazines
  • Watch English movies and keep your attention on the pronunciation of the words. Follow the subtitles for words you may not understand.
  • Interaction with people also helps in developing speaking and listening skills. During this process, you must avoid exchange of words in simple sentences. Try to incorporate the different words you have learnt.
  • Attend seminar and webinars. Observe the level of self-confidence of speaker during his presentation. Keep a dictionary with you so that you can gain access to the meaning and pronunciation of a hard word. We all have heard of the proverb, Practice only makes a man perfect. The phrase explains that a definite level of practice is necessary to overcome any hurdle. Hence, vocabulary is not only a source to impress but it is also meant to express.
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Asked on 03 Feb Functional Training/Robotics Hobby/Summer Camp/Robotics & Technology

How does ultrasonic sensor work with Arduino Board using Ardublock Programming?

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Asked on 01 Feb Functional Training/HR Training/Job design and analysis

I want to do job for office. I have done B.Com and was doing CS final but due to my small baby was not... read more

I want to do job for office. I have done B.Com and was doing CS final but due to my small baby was not able to continue so what further studies I should do for job? Which can be possible online or private?

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Lesson Posted on 24 Jan Functional Training/HR Training

Role Of HR In Performance Appraisal

Racon Learning

Racon is a device that helps navigators to determine their position. Racon Learning works to identify...

Role of HR in Performance Appraisal:HR has the following role to play: 1. Provide the appraisal structure i.e. the parameters on which the assessment is to be done so if the appraisal is against the set KRA/KPA (Key Result Areas or Key Performance Area) the scale on which the appraisal will be done. ... read more
Role of HR in Performance Appraisal:

HR has the following role to play:
 
1. Provide the appraisal structure i.e. the parameters on which the assessment is to be done so if the appraisal is against the set KRA/KPA (Key Result Areas or Key Performance Area) the scale on which the appraisal will be done.
 
2. Appraiser will require some basic information of Appraises like his growth in the organizations, his qualification, experiences etc, to be provided as input by HR
 
3. The effect of Appraisal has to be finalized by HR and communicated to all concerned as policy of the company be it in terms of Promotion or incentive.
 
4. Other associated information of the employee like any misconduct, absenteeism, achievement (for the assessment period) is to be provided by HR only to the Appraiser.
 
5. HR has to set the stage where Employee can be appraised by his/her appraiser and has to train the appraiser to give the feedback to appraise.
 
6. HR has to play an important role because the outcome of the Appraisal has to be used for various purpose by HR only.
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Lesson Posted on 24 Jan Functional Training/HR Training

Creating The Best Work Culture

Racon Learning

Racon is a device that helps navigators to determine their position. Racon Learning works to identify...

Creating the Best Work Culture:The work culture is the key to high performance.More important, influencing the work culture is a manager's best opportunity for creating high performance. "Culture" is a 24-hours-a-day training program that exists inside any organization. It's teaching and influencing... read more
Creating the Best Work Culture:

The work culture is the key to high performance.

More important, influencing the work culture is a manager's best opportunity for creating high performance. "Culture" is a 24-hours-a-day training program that exists inside any organization. It's teaching and influencing all the time. Sometimes it's teaching what we like it to teach, and sometimes it's not. It's very difficult to "swim upstream" against the culture.

For example, you can teach value added and long-term relationships all you want, but if the work culture is really about short-term, adversarial relationships with clients, that's what you're going to get--that plus a lot of confusion.

The best of all possible worlds is a consistent, positive, reinforcing culture and good sales managers are discovering that the best way to leverage their efforts is to manage the culture. After more than 10 years of research, we've come up with five factors that are critical to creating and maintaining a high-performance work culture. Listed in order of importance, they are:

1. A shared sense of mission or purpose: It's the culture equivalent to purpose. It answers the questions "What's expected around here, what do we do, and why do we do it?" If the only answer that you have is "making money," be prepared for your people to ask for as much as they can get for doing as little as they can. On the other hand, if you've taken the time to establish a mission and especially if you've taken the time to involve your people in the process that larger sense of mission will help people focus on achieving their part of the mission.

2. Clear and attainable goals: People perform best when they have specific goals. Goals that are reachable yet that stretch them. Don't tell people what to do, or how to do it, but give them the map, the destination, and sometimes the general direction in which to start.

3. Frequent objective feedback: People learn quickly and work well when they are told how they're doing. Debrief and summarize every joint call you make. Don't assume that people know how they're doing or know what you think. Lead with positive information first, but always be honest, objective, and specific. Help your people learn from every selling experience.

4. Positive rewards for appropriate or approximate performance: Selling is like playing tennis: Very few people get it right the first time. Sincere, positive reinforcement ("You did that really well." "You really understand this." "You're doing a great job.") helps people learn. Catch people doing something right, and tell them about it.

5. Timely support and help when requested or needed: This is an issue of priorities for most sales managers. It's deciding what your job is. Are you there to track numbers and quotas, or are you there to support your people? Clearly, both jobs have to be done, but the job of coach is the critical job in creating a high-performance team.
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