[Year]

[Document title]
[Document subtitle]
Moorche
Contents
Statistics:.....................................................................................................................................................2
Types of statistics:.......................................................................................................................................2
Types of descriptive statistics:....................................................................................................................2
Examples of descriptive statistic:...............................................................................................................4
Types of Inferential statistics:.....................................................................................................................4
Exploratory Data Analysis:..........................................................................................................................5
Confirmatory Data Analysis:.......................................................................................................................6
Mean, Median, and Mode:.........................................................................................................................7
TYPES AND SOURCES OF DATA...................................................................................................................7
TYPES OF DATA...........................................................................................................................................7
Qualitative and Quantitative Raw Data Analysis:......................................................................................8
Key difference between qualitative and quantitative data.......................................................................9
Applications of statistics in business........................................................................................................10
Deductive and inductive approaches:.......................................................................................................11
Economical survey of Pakistan 2023..........................................................................................................12
Altas Honda:..............................................................................................................................................13
Estimated worldwide motor vehicle production from 2000 to 2023(in million vehicles)......................17
Statistics:
Statistics is a powerful tool used to make sense of data in various fields such as science, business,
economics, social sciences, and more. It provides methods for collecting, organizing, analyzing,
interpreting, and presenting data, enabling us to draw meaningful conclusions and make informed
decisions.

At its core, statistics involves the study of variability and uncertainty. It allows us to quantify uncertainty
through measures such as probabilities, confidence intervals, and hypothesis testing. By understanding
and managing uncertainty, we can mitigate risks and optimize outcomes in diverse scenarios.

One of the fundamental concepts in statistics is the distinction between descriptive and inferential
statistics. Descriptive statistics involve summarizing and presenting data, often through measures like
averages, percentages, and graphical representations. Inferential statistics, on the other hand, enable us
to draw conclusions or make predictions about a population based on a sample of data.

Statistics encompasses a wide range of techniques, including probability theory, hypothesis testing,
regression analysis, and experimental design. These techniques are applied in various fields to analyze
data, test hypotheses, model relationships, and make predictions.

In today's data-driven world, the importance of statistics cannot be overstated. From guiding policy
decisions to optimizing business strategies, statistics plays a crucial role in informing choices and driving
progress. A solid understanding of statistical principles empowers individuals to critically evaluate data,
identify patterns, and extract meaningful insights, making it an indispensable tool in both academic and
practical contexts.

Types of statistics:
The two main types of statistics are descriptive statistics and inferential statistics.

1. Descriptive Statistics: Descriptive statistics involve methods for summarizing and describing the
characteristics of a dataset. These methods provide a concise overview of the data, including
measures such as central tendency (e.g., mean, median, mode) and measures of variability (e.g.,
range, variance, standard deviation). Descriptive statistics also include graphical representations
like histograms, bar charts, and pie charts, which visually present the data distribution.

2. Inferential Statistics: Inferential statistics involve using sample data to make inferences or draw
conclusions about a larger population. These methods allow researchers to generalize findings
from a sample to the population from which the sample was drawn. Inferential statistics include
techniques such as hypothesis testing, confidence intervals, regression analysis, and analysis of
variance (ANOVA). These methods help assess relationships between variables, test hypotheses,
and make predictions based on the data.

Types of descriptive statistics:

Descriptive statistics are used to summarize and describe the features of a dataset, providing insights
into its central tendency, variability, and distribution. There are several types of descriptive statistics,
each serving a specific purpose in analyzing and understanding data. Here are the main types of
descriptive statistics in detail:

1. Measures of Central Tendency:

 Mean: The mean, or average, is the sum of all values in a dataset divided by the total
number of observations. It provides a measure of the central location of the data.

 Median: The median is the middle value in a sorted dataset. It divides the data into two
equal halves, with half of the observations lying above and half below.

 Mode: The mode is the value that appears most frequently in a dataset. It represents
the most common value or category in the data.

2. Measures of Dispersion (Variability):

 Range: The range is the difference between the maximum and minimum values in a
dataset. It provides a simple measure of the spread or variability of the data.

 Variance: The variance measures the average squared deviation of each data point from
the mean. It quantifies the spread of the data around the mean.

 Standard Deviation: The standard deviation is the square root of the variance. It
provides a measure of the average distance of data points from the mean, with higher
values indicating greater variability.

3. Measures of Shape and Distribution:

 Skewness: Skewness measures the asymmetry of the distribution of data around its
mean. Positive skewness indicates a longer right tail, while negative skewness indicates
a longer left tail.

 Kurtosis: Kurtosis measures the peakedness or flatness of the distribution of data.

Higher kurtosis values indicate a sharper peak and heavier tails, while lower values
indicate a flatter distribution.

4. Percentiles and Quartiles:

 Percentiles: Percentiles divide a dataset into 100 equal parts. For example, the 25th
percentile (also known as the first quartile) is the value below which 25% of the
observations fall.

 Quartiles: Quartiles divide a dataset into four equal parts. The first quartile (Q1)
represents the 25th percentile, the second quartile (Q2) represents the median, and the
third quartile (Q3) represents the 75th percentile.

5. Graphical Representations:

 Histograms: Histograms are graphical representations of the frequency distribution of

continuous data. They consist of bars where the height of each bar represents the
frequency of data within a specific interval.
  Boxplots: Boxplots, or box-and-whisker plots, provide a visual summary of the
distribution of data. They display the median, quartiles, range, and any potential outliers
in the dataset.

Examples of descriptive statistic:

1. Measures of Central Tendency:

 Mean: The average exam score is calculated by summing up all individual scores and
dividing by the total number of students.

 Median: The middle score when all scores are arranged in ascending order.

 Mode: The most frequent score or scores in the dataset.

2. Measures of Dispersion (Variability):

 Range: The difference between the highest and lowest scores.

 Variance: The average of the squared differences between each score and the mean.

 Standard Deviation: The square root of the variance, indicating the average distance of
scores from the mean.

3. Measures of Shape and Distribution:

 Skewness: Determines whether the distribution of scores is symmetric or skewed to one

side.

 Kurtosis: Measures the peakedness or flatness of the distribution.

4. Percentiles and Quartiles:

 25th Percentile (Q1): The score below which 25% of the students scored.

 50th Percentile (Median, Q2): The score below which 50% of the students scored.

 75th Percentile (Q3): The score below which 75% of the students scored.

5. Graphical Representations:

 Histogram: A bar graph showing the frequency distribution of scores within predefined
intervals.

 Boxplot: A graphical summary of the distribution of scores, including the median,

quartiles, and potential outliers.

Types of Inferential statistics:

Inferential statistics involves using sample data to make inferences or draw conclusions about a larger
population. There are several types of inferential statistics, each serving different purposes in statistical
analysis. Here are some of the main types:
 1. Hypothesis Testing: Hypothesis testing is a statistical method used to make decisions about a
population parameter based on sample data. It involves formulating a null hypothesis (H0) and an
alternative hypothesis (Ha), collecting sample data, and using statistical tests to determine
whether there is enough evidence to reject the null hypothesis in favor of the alternative
hypothesis.

2. Confidence Intervals: Confidence intervals provide a range of values within which a population
parameter, such as a mean or proportion, is likely to lie with a certain level of confidence. The
confidence level represents the probability that the interval contains the true population
parameter.

3. Regression Analysis: Regression analysis is a statistical technique used to examine the

relationship between one or more independent variables and a dependent variable. It helps to
predict the value of the dependent variable based on the values of the independent variables.

4. Analysis of Variance (ANOVA): ANOVA is a statistical method used to compare means across two
or more groups to determine whether there are significant differences between them. It helps to
identify which groups differ from each other and to what extent.

5. Chi-Square Test: The chi-square test is a statistical test used to determine whether there is a
significant association between two categorical variables. It compares the observed frequencies
of the categories with the expected frequencies under the null hypothesis of independence.

6. T-Tests: T-tests are statistical tests used to compare the means of two groups and determine
whether there is a significant difference between them. There are different types of t-tests,
including independent samples t-test, paired samples t-test, and one-sample t-test.

7. Nonparametric Tests: Nonparametric tests are statistical tests that do not make assumptions
about the distribution of the data. These tests are used when the data do not meet the
assumptions of parametric tests, such as normality or homogeneity of variance. Examples include
the Wilcoxon signed-rank test, Mann-Whitney U test, and Kruskal-Wallis test.

Exploratory Data Analysis:

Exploratory Data Analysis (EDA) is an approach to analyzing data sets to summarize their main
characteristics, often with visual methods. It aims to uncover patterns, trends, relationships, anomalies,
and insights within the data that may not have been initially apparent. EDA involves techniques such as
summary statistics, graphical representations (e.g., histograms, scatter plots, box plots), and data
transformations to gain a deeper understanding of the data's structure and distribution. It is often used
at the beginning of a data analysis process to explore the data, generate hypotheses, and inform further
analysis. EDA can help identify potential data quality issues, missing values, outliers, and relationships
between variables, guiding the selection of appropriate statistical methods for more in-depth analysis.
Overall, EDA plays a crucial role in the data exploration phase, enabling analysts and researchers to
derive meaningful insights and make informed decisions based on the data.

Descriptive Statistics - Inductive Approach

 Look for flexible ways to examine data without preconceptions.

 Attempt to evaluate validity of assumptions.
  Heavy reliance on graphical displays
 Let data suggest questions.
 Focus on indications and approximate error magnitudes.

Advantages
 Flexible ways to generate hypotheses.
 More realistic statements of accuracy
 Does not require more than data can support.
 Promotes deeper understanding of processes.
 Statistical learning

Disadvantages
 Usually does not provide definitive answers.
 Difficult to avoid optimistic bias produced by overfitting.
 Requires judgement and artistry - can't be cook booked.

Confirmatory Data Analysis:

Confirmatory Data Analysis (CDA) is a statistical approach used to confirm or validate hypotheses and
theories based on existing data. Unlike Exploratory Data Analysis (EDA), which focuses on exploring data
to generate hypotheses, CDA involves testing predetermined hypotheses or theories using statistical
methods. In CDA, researchers specify a set of hypotheses before analyzing the data and use inferential
statistics to determine whether the data provide sufficient evidence to support or reject these
hypotheses. This approach often involves hypothesis testing, model fitting, and parameter estimation
using techniques such as t-tests, ANOVA, regression analysis, and structural equation modeling. CDA is
commonly used in scientific research, clinical trials, and hypothesis-driven studies where researchers
aim to confirm or refute specific hypotheses based on empirical evidence. By rigorously testing
hypotheses against data, CDA helps ensure the validity and reliability of research findings, providing a
systematic framework for drawing meaningful conclusions and making evidence-based decisions.

Inferential Statistics - Deductive Approach

 Heavy reliance on probability models

 Must accept untestable assumptions.
 Look for definite answers to specific questions.
 Emphasis on numerical calculations
 Hypotheses are determined at outset.
 Hypothesis tests and formal confidence interval estimation

Advantages

 Provide precise information in the right circumstances.

 Well-established theory and methods

Disadvantages

 Misleading impression of precision in less-than-ideal circumstances

  Analysis driven by preconceived ideas.
 Difficult to notice unexpected results.

Mean, Median, and Mode:

Mean, median, and mode are three important measures of central tendency used in statistics to
summarize a dataset's distribution. The mean, often referred to as the average, is calculated by
summing up all values in the dataset and dividing by the total number of observations. It provides a
measure of the central location of the data and is sensitive to extreme values or outliers. The median
represents the middle value of a dataset when arranged in ascending order. If the dataset contains an
odd number of observations, the median is the middle value; if the dataset contains an even number of
observations, the median is the average of the two middle values. Unlike the mean, the median is not
influenced by extreme values and provides a robust measure of central tendency, particularly for
skewed distributions. The mode refers to the most frequently occurring value or values in the dataset. It
provides insights into the dataset's central tendency by identifying the most common observation or
category. In some cases, a dataset may have multiple modes, making it multimodal. Mean, median, and
mode each offer unique insights into the central tendency of a dataset, and researchers often use a
combination of these measures to gain a comprehensive understanding of the data's distribution.

TYPES AND SOURCES OF DATA

The two categories of data sources are statistical and non-statistical. Census data and surveys that are
conducted on behalf of the government are included in the category of statistical sources. Data
collecting for other administrative purposes or for the private sector is referred to as a non-statistical
source.

What are the different sources of data?

The following are the two sources of data:

1. Internal sources

 When data is collected from reports and records of the organization itself,
they are known as the internal sources.
 For example, a company publishes its annual report’ on profit and loss, total
sales, loans, wages, etc.

2. External sources

 When data is collected from sources outside the organization, they are known as the
2. external sources. For example, if a tour and travel company obtain information on
3. Karnataka tourism from Karnataka Transport Corporation, it would be known as an
4. external source of data.

TYPES OF DATA
A) Primary data
  Primary data means first-hand information collected by an investigator.
 It is collected for the first time.
 It is original and more reliable.
 For example, the population census conducted by the government of India after
every ten years is primary data.

B) Secondary data

 Secondary data refers to second-hand information.

 It is not originally collected and rather obtained from already published or unpublished
sources.
 For example, the address of a person taken from the telephone directory or the
phone number of a company taken from Just Dial are secondary data.

Methods of Collecting Primary Data

1. Direct personal investigation

2. Indirect oral investigation

3. Information through correspondents

4. Telephonic interview

5. Mailed questionnaire.

6. The questionnaire filled out by enumerators.

Qualitative and Quantitative Raw Data Analysis:

Qualitative Raw Data Analysis:

Qualitative data analysis involves the examination and interpretation of non-numeric data to identify
patterns, themes, and insights. This type of analysis is often used in social sciences, humanities, and
qualitative research studies. In qualitative raw data analysis, researchers immerse themselves in the
data, often through methods such as coding, categorizing, and thematic analysis. Coding involves
systematically labeling and organizing segments of text or other qualitative data based on recurring
themes or concepts. Categorizing involves grouping similar codes or themes together to identify broader
patterns or trends within the data. Thematic analysis involves identifying and interpreting underlying
themes or patterns that emerge from the data. Throughout the qualitative data analysis process,
researchers aim to uncover the richness and complexity of the data, gaining deeper insights into
participants' experiences, perspectives, and behaviors.

Quantitative Raw Data Analysis:

Quantitative data analysis involves the examination and interpretation of numerical data to understand
relationships, patterns, and trends. This type of analysis is commonly used in scientific research,
economics, and business analytics. In quantitative raw data analysis, researchers use statistical methods
to analyze the data and draw conclusions based on numerical evidence. This may involve calculating
descriptive statistics such as means, medians, and standard deviations to summarize the data's central
tendency and variability. It may also involve conducting inferential statistics such as hypothesis testing
and regression analysis to test hypotheses, make predictions, or infer relationships between variables.
Throughout the quantitative data analysis process, researchers aim to quantify and measure
phenomena, allowing for rigorous and replicable findings that contribute to scientific knowledge and
decision-making processes.

Key difference between qualitative and quantitative data

The differences between qualitative and quantitative research are provided can be drawn
clearly on the following grounds:
1. Qualitative research is a method of inquiry that develops understanding on human
and social sciences, to find the way people think and feel. A scientific and empirical
research method that is used to generate numerical data, by employing statistical,
logical, and mathematical techniques is called quantitative research.

2. Qualitative research is holistic in nature while quantitative research is particularistic

3. The qualitative research follows a subjective approach as the researcher is intimately

involved, whereas the approach of quantitative research is objective, as the
researcher is uninvolved and attempts to precise the observations and analysis on
the topic to answer the inquiry.

4. Qualitative research is exploratory. As opposed to quantitative research which is conclusive.

5. The reasoning used to synthesize data in qualitative research is inductive whereas in the case of
quantitative research the reasoning is deductive.

6. Qualitative research is based on purposive sampling, where a small sample size is selected with a view
to get a thorough understanding of the target concept. On the other hand, quantitative research relies
on random sampling; wherein a large representative sample is chosen in order to extrapolate the results
to the whole population.

7. Verbal data are collected in qualitative research. Conversely, in quantitative research measurable data
is gathered.

8. Inquiry in qualitative research is a process-oriented, which is not in the case of quantitative research.

9. Elements used in the analysis of qualitative research are words, pictures, and objects while that of
quantitative research is numerical data.

10. Qualitative Research is conducted with the aim of exploring and discovering ideas used in the
ongoing processes. As opposed to quantitative research the purpose is to examine cause and effect
relationship between variables.

11. Lastly, the methods used in qualitative research are in-depth interviews, focus groups, etc. In
contrast, the methods of conducting quantitative research are structured interviews and observations.

12. Qualitative Research develops the initial understanding whereas quantitative research recommends
a final course of action.
Applications of statistics in business
Statistics plays a crucial role in various aspects of business operations, decision-making, and strategy
development. Here are several key applications of statistics in business:

1. Market Research and Customer Analysis: Businesses use statistical techniques to collect and
analyze data on consumer preferences, demographics, buying behavior, and market trends. This
information helps businesses identify target markets, develop marketing strategies, and tailor
products and services to meet customer needs effectively.

2. Sales Forecasting and Demand Planning: Statistical methods such as time series analysis,
regression analysis, and predictive modeling are used to forecast future sales, demand for
products, and inventory requirements. Accurate sales forecasts enable businesses to optimize
production, manage inventory levels, and plan resources efficiently.

3. Quality Control and Process Improvement: Statistical process control (SPC) techniques are used
to monitor and improve the quality of products and processes. Methods such as control charts,
Pareto analysis, and Six Sigma help businesses identify and reduce defects, minimize variation,
and enhance overall quality and efficiency.

4. Financial Analysis and Risk Management: Statistics is applied in financial analysis to analyze
financial data, assess performance, and make investment decisions. Techniques such as ratio
analysis, regression analysis, and risk modeling help businesses evaluate profitability, manage
financial risks, and make informed investment decisions.

5. Operations Management and Optimization: Statistical methods are used to optimize

operations, improve productivity, and reduce costs. Techniques such as linear programming,
queuing theory, and simulation modeling help businesses optimize production schedules,
allocate resources efficiently, and streamline supply chain management processes.

6. Customer Relationship Management (CRM): Businesses use statistical techniques to analyze

customer data and behavior, segment customers based on characteristics and preferences, and
personalize marketing campaigns and customer interactions. CRM analytics help businesses
enhance customer satisfaction, loyalty, and retention.

7. A/B Testing and Experimentation: Statistical hypothesis testing and experimentation techniques
are used to evaluate the effectiveness of marketing campaigns, website designs, pricing
strategies, and product features. A/B testing allows businesses to compare different versions of
a marketing asset or product and determine which performs better based on statistical
significance.

8. Human Resources and Talent Management: Statistics is applied in workforce planning,

performance evaluation, and talent management. Techniques such as regression analysis,
correlation analysis, and predictive modeling help businesses identify factors influencing
employee performance, optimize staffing levels, and make data-driven decisions in recruitment
and retention.
Deductive and inductive approaches:
Deductive and inductive approaches are two distinct methods used in business research and analysis.
Here's an explanation of each approach and how they are applied in the business context:

1. Deductive Approach:

 Definition: The deductive approach starts with a general theory or hypothesis and then
tests it against specific observations or evidence. It involves moving from the general to
the specific, using logical reasoning to draw conclusions.

 Application in Business: In the business context, the deductive approach often begins
with an existing theory or framework derived from prior research, established
principles, or theoretical models. Researchers formulate specific hypotheses based on
these theories and then collect data to test the validity of these hypotheses. For
example, a researcher might start with the theory that employee satisfaction leads to
higher productivity. They would then develop specific hypotheses, such as "Employees
who receive regular feedback from supervisors are more satisfied," and conduct surveys
or experiments to test these hypotheses.

2. Inductive Approach:

 Definition: The inductive approach involves starting with specific observations or

evidence and then generating general conclusions or theories based on these
observations. It involves moving from the specific to the general, using patterns
observed in the data to develop broader theories or concepts.

 Application in Business: In the business context, the inductive approach often begins
with collecting and analyzing data from real-world observations or experiences.
Researchers look for patterns, themes, or trends in the data and use these to develop
new theories or concepts. For example, a company might analyze customer feedback
data and observe recurring complaints about a particular product feature. Based on
these observations, they may develop a new theory about customer preferences or
needs, leading to the development of improved product designs or marketing strategies.

Comparison:

 Deductive Approach:

 Begins with a theory or hypothesis.

 Tests the theory using specific observations or data.

 Emphasizes logical reasoning and hypothesis testing.

 Often associated with quantitative research methods.

 Used to confirm or refute existing theories.

 Inductive Approach:

 Begins with specific observations or data.

  Generates theories or concepts based on patterns observed in the data.

 Emphasizes exploration and discovery.

 Often associated with qualitative research methods.

 Used to develop new theories or concepts based on empirical evidence.

Economical survey of Pakistan 2023

Table 1: Composition of GDP (at Current Prices): Expenditure Approach

FY2021 FY2022 FY2023 FY2021 FY2022 FY2023 FY2021 FY2022 FY2023
As percent of GDP (MP) Growth Rates (%) Point Contribution
Household Consumption 82.49 84.85 83.43 20.37 22.72 24.95 16.40 18.75 21.17
NPISH Consumption 0.97 0.89 0.80 11.03 9.77 13.66 0.11 0.09 0.12
General Government
10.93 10.50 9.73 8.89 14.60 17.84 1.05 1.60 1.87
Consumption
Total Consumption [C] 94.39 96.24 93.96 18.82 21.65 24.07 17.56 20.44 23.16
Gross Fixed Investment 12.82 14.01 11.92 14.93 30.35 8.14 1.96 3.89 1.14
Private 9.85 10.54 8.81 12.62 27.66 6.18 1.30 2.73 0.65
Public including General
2.97 3.47 3.11 23.33 39.27 14.10 0.66 1.17 0.49
Public
Changes in Stock +
1.71 1.71 1.71 17.45 19.32 27.07 0.30 0.33 0.46
Valuables
Total Investment [I] 14.53 15.72 13.63 15.22 29.05 10.20 2.26 4.22 1.60
Exports (Goods & Services)
9.05 10.55 10.08 14.33 39.02 21.41 1.33 3.53 2.26
[X]
Imports (Goods & Services)
17.98 22.50 17.67 21.23 49.34 -0.20 3.70 8.87 -0.05
(M]
Net Exports [X-M] -8.93 -11.96 -7.60 29.14 59.81 -19.27 -2.37 -5.34 2.30
Aggregate Demand
117.98 122.50 117.67 18.01 23.89 22.06 21.15 28.19 27.02
[C+I+X]
Domestic Demand [C + I] 108.93 111.96 107.60 18.33 22.64 22.12 19.82 24.66 24.77
GDP (MP) 100 100 100 17.45 19.32 27.07 17.45 19.32 27.07
NPISH: Non-profit institutions serving households
Source: Pakistan Bureau of Statistics

The provided data outlines the composition of GDP (at current prices) using the expenditure approach
for the fiscal years 2021, 2022, and 2023. The table presents various components of GDP, including
household consumption, NPISH (Non-Profit Institutions Serving Households) consumption, general
government consumption, gross fixed investment, exports, and imports, among others.

Over the three fiscal years, there's a noticeable increase in most components of GDP. Household
consumption remains the largest contributor to GDP, followed by gross fixed investment and exports.
The growth rates for these components are significant, indicating a robust economy during this period.
However, imports also experience substantial growth rates, leading to a negative impact on net exports.

Overall, aggregate demand, which encompasses consumption, investment, and exports, shows steady
growth across the years. Domestic demand, representing consumption and investment, also follows a
similar trend. However, the negative contribution of net exports suggests a trade deficit during these
years. Despite this, GDP experiences notable growth rates, indicating a strong and expanding economy
throughout the period covered by the survey.

Altas Honda:

The firm implemented a number of initiatives to reduce waste creation and resource utilisation at its
manufacturing facilities. One of the activities was the use of reusable vinyl sheets instead of non-
recyclable bubble plastic sheets in packaging, which reduced waste output by approximately 1.3 tonnes
per year. Paper and cardboard waste reduced by 135 tonnes.
Recycled aluminium waste from the company's manufacturing processes amounted to 492 tonnes,
accounting for 5% of total nonferrous casting materials used. This shows the firm's commitment to
responsible resource management.

The company also focused on water conservation. Employees were encouraged to conserve water and
use water-efficient technology and equipment. The company provided clean drinking water and sanitary
facilities at all workers and emphasised the importance of sustainable water management.
Monitoring water usage and outflow found a 3% decrease in intensity per vehicle over the previous
year, totaling 713,878 cubic metres. 107,082 cubic metres (15%) of manufacturing water were cycled,
processed, and securely discharged into the environment.

The firm constructed two wastewater treatment facilities at its industrial sites to efficiently manage
wastewater. The collected wastewater was safely dumped into the sewer system after being thoroughly
cleaned of hazardous substances. The organisation followed regulations and maintained environmental
quality requirements during the treatment process.
Paint shops implemented water-saving measures, including biweekly tank cleaning instead of weekly.
Through this the endeavour reduced annual water use by 144 cubic metres while also reducing grease,
spray booth additives, and diesel.

The company also focused on water conservation. It urged employees to conserve water and, when
possible, deploy water-efficient technology and equipment. The company provided access to clean
drinking water and sanitary facilities at all of its locations and emphasised the importance of sustainable
water management. Monitoring of water usage and outflow found that 713,878 cubic metres of water
were utilised during the year, with a 3% decrease in intensity per vehicle compared to the previous year.
107,082 cubic metres (15%) of the water used in the manufacturing process was recycled after being
adequately cleaned and safely released back into the environment.
Interesting trends can be seen when comparing Honda’s financial data for 2022 and 2023. Toyota's gross
revenue made up 97.6% of their overall income in 2021, while other income made up 2.4%. In the
meantime, 61.6% of the total income was spent on materials, services, and other costs. While other
income increased to 3.6%, total revenue slightly declined to 96.4% in 2023. In addition, expenses rose to
62.4% of total revenue.

It's crucial to remember that these numbers do not, by themselves, paint a whole picture of Honda's
financial performance. Additional elements like operating income, taxes, and net profit margin should
be taken into account in order to evaluate their total profitability and financial stability. Additionally, the
information provided is fictitious and based on projected numbers for 2022 and 2023. The official
financial reports and statements of honda should be checked for the most recent and accurate financial
information.

The graph above, given by Jica (2011), depicts the total number of cars sold in India and Pakistan based
on engine size. The cars used in India in 2009-2010 are shown in the pie chart on the left. 80% of Indian
car purchases were for vehicles with an engine capacity of 800cc to 1000cc or less. Only 18% were for
vehicles with engines ranging from 1000cc to 1300cc or larger, and only 2% for vehicles with engines of
1300cc or more. While the right-hand pie chart reveals that, at 49%, Pakistan primarily purchases high-
end vehicles with 1300cc or more. The majority of the 21% sold in 2009-10 were automobiles ranging
from 800cc to 1000cc to 1300cc at 30%.

As lower-middle-class Indians buy their first cars, there is a clear difference between the two countries.
In Pakistan, the lower middle class buys secondhand automobiles, whilst new cars are only available to
the upper classes and those with greater salaries. This image is especially useful for business strategy
when determining which automobile models should be developed by the major automakers.
Estimated worldwide motor vehicle production from 2000 to 2023(in million vehicles)

From 2000 to 2023, global motor vehicle production fluctuated, driven by variables such as economic
conditions and the COVID-19 epidemic.

Production peaked in 2000 at 59 million vehicles and gradually rose until 2007, when it reached 73
million. However, the worldwide economic slump of 2008 and 2009 reduced sales to 63 million vehicles.
Despite this setback, the industry recovered and manufacturing continued to climb until 2019, when it
peaked at 97 million vehicles.

The commencement of the COVID-19 pandemic in 2020 had a substantial influence on worldwide motor
vehicle production, resulting in a decrease of 78 million vehicles. The pandemic disrupted supply
networks, causing manufacturing shutdowns and lowering consumer demand. However, as the world
adjusted to the challenges faced by the pandemic, production began to recover. Sales began to climb
again in 2021, with production reaching 85 million vehicles in 2022.

This increasing trend in car production implies a recovery from the pandemic's negative impacts, as well
as an increase in global demand for autos. The industry's resilience and adaptability to changing
conditions are obvious as it seeks to suit the demands and tastes of consumers all around the world. As
economies stabilise and international mobility resumes, the motor vehicle production graph is likely to
maintain its upward trend, indicating a favourable prognosis for the industry.

TYPES OF DATA ANALYSIS:

What Is Data Analysis?
Data analysis involves thoroughly examining, purifying, modifying, and modelling data to reveal valuable
insights, patterns, and trends. It entails utilising a range of techniques and tools to analyse data and
arrive at well-informed conclusions. Data analysis is an essential component in various industries,
including business, science, healthcare, and more. It helps inform strategic decisions and optimisations
by extracting valuable insights from data.

Why Is Data Analysis Important?

Effective data analysis is essential for organisations to make well-informed decisions grounded in
evidence rather than relying on intuition alone. Through the analysis of data, businesses can discover
patterns and trends, enabling them to seize growth opportunities, streamline processes, and minimise
risks. This tool allows for precise predictions, boosts efficiency, and fosters creativity. In today's data-
driven world, organisations can gain a competitive edge by harnessing the power of data analysis to
extract valuable insights from vast amounts of information.

What Is The Data Analysis Process?

When it comes to analysing data, there is

a specific order that should be followed in
order to extract the necessary
conclusions. The analysis process involves
five essential stages. We will delve into
each of them further in the post, but for
now, let's provide the necessary context
to grasp what lies ahead. Here is a
breakdown of the 5 crucial steps of data
analysis.

• Determine: Consider the underlying objective of your data requirement before diving into it.
Identifying the questions that need to be addressed during the identification phase. What, for example,
is the customer's perception of our brand? What type of packaging is more appealing to our potential
clients, instead? Once the questions have been stated, you can proceed with the next step.
• Gather: This stage is where you start collecting the required data, as its name implies. Here, you
outline the data sources you will be using and explain your approach to utilising them. Information can
be collected from various sources, such as internal or external sources, surveys, interviews,
questionnaires, focus groups, and other methods. It's important to note that data collection methods for
quantitative and qualitative scenarios will vary.
• Efficient: Once you have gathered the necessary data, ensure it is organised and ready for analysis. It is
important to note that not all the data obtained will be relevant. In fact, there is a high likelihood of
encountering duplicate or improperly structured data when collecting large volumes of data in different
formats. In order to avoid this, it is crucial to thoroughly clean your data by eliminating any empty
spaces, duplicate records, and formatting issues prior to commencing your work. By implementing this
approach, you can ensure the use of high-quality data in your analysis.
• Examine: One can begin the process of analysing and manipulating data to draw meaningful
conclusions by employing a range of methods, such as statistical analysis, regressions, neural networks,
text analysis, and other techniques. At this stage, you uncover trends, correlations, variances, and
patterns that can help you find the answers to the questions you initially came up with during the
identification phase. There are numerous solutions accessible for individuals to effectively manage their
data, whether they are researchers or everyday individuals. Predictive analytics, data mining, business
intelligence, and visualisation tools are just a few examples.
• Understand and analyse: One of the most important steps is the final one; it's time to analyse your
findings. During this phase, the researcher formulates action plans based on the findings. One can
determine, for example, the packaging preferences of customers, such as their colour preference (red or
green) and material preference (plastic or paper). At this stage, it is important to recognise any
limitations and find ways to address them.

Key Methods for Data Analysis :

Before delving into the 17 essential types of methods, it is crucial that we quickly review the main
analysis categories. From descriptive to prescriptive analysis, the complexity and effort of data
evaluation gradually increase, resulting in greater value for the company.
a) Detailed analysis - What occurred.
Every analytical reflection should start with a descriptive analysis method to address the question,
"What happened?" In order to generate valuable insights for your organisation, it accomplishes this task
by efficiently organising, processing, and analysing raw data from a wide range of sources.
Thorough analysis is essential as it allows us to effectively convey our findings. It is worth mentioning
that this analysis alone cannot predict future outcomes or offer explanations for past events. However,
it will effectively organise your data for future research purposes.
b) Analysing data relationships - Methods for exploring data connections.
The main objective of the exploratory analysis is to thoroughly investigate, as its name suggests. Prior to
this, the relationship between the data and the variables remained uncertain. Once the data has been
thoroughly examined, conducting exploratory analysis can help uncover relationships and generate
fresh ideas and solutions to any issues that arise. Data mining is a common application area for it.
c) Analysing the diagnosis - Understanding the cause.
Diagnostic data analytics provides analysts and executives with a strong contextual understanding of the
reasons behind certain occurrences, empowering them in their decision-making process. Understanding
the reasons behind an event and the methods to address it will help you pinpoint the most effective
solutions.
This research methodology is highly regarded for its ability to provide clear and actionable answers to
specific queries. It serves various organisational purposes, including retail analytics, making it a crucial
tool in the world of research.
d) Predictive analysis - Anticipating future outcomes.
By utilising a predictive approach, one can anticipate future events by examining relevant information. It
utilises machine learning (ML) and artificial intelligence (AI), along with the insights gained from
descriptive, exploratory, and diagnostic analysis, to accomplish this. With this tool, you can uncover
emerging trends, potential problems or inefficiencies, connections, and data discrepancies.
By utilising predictive analysis, you can strategically plan and execute projects to enhance your
operational processes and gain a significant edge over your competitors. Having a strong grasp of data
analysis allows for a more informed prediction of how events may unfold in various business sectors.
e) Prescriptive analysis - How will it occur.
Another excellent research analysis technique. Prescriptive data techniques distinguish themselves from
predictive analysis by emphasising the identification of patterns or trends and their application in
developing flexible and practical business strategies.
Delving into prescriptive analysis enables you to actively engage in the data consumption process by
utilising well-organized sets of visual data to address new challenges in various crucial fields, including
marketing, sales, customer experience, human resources, fulfilment, finance, logistics analytics, and
more.