Any study in the fields of management, science, or social science, calls for analysis of real world data, so that the study can have its own prominence among the community of researchers with a due course of time. The data to be analyzed for experimental purpose can be multifarious in nature, and the analyzing techniques alter in accordance with that. Firstly, the data can be categorized into quantitative and qualitative data. Quantitative data can be of three categories, namely time series, cross sectional, and panel. Qualitative data can be categorized into nominal and ordeal. Considering the quantitative data, several kinds of regression analysis, error correction, and cointegration analysis can be applied. Considering qualitative data, structural equation modeling, factor analysis, and principal component analysis can be applied. For both the kinds of data, simultaneous equation modeling can be applied based on the simultaneity of the events. Having all these available analytical techniques, one should have the expertise to apply these procedures in accordance with the call of the situation and context, as these techniques are sensitive to the nature of the data and context of analysis. To know more about the data analysis techniques, kindly browse the pages of articles.tutorsexchange.com.
In order to carry out any research on the analysis of Indian economy, one needs to know the proper sources of data. There are several organizations in India, which provide time series and panel data related to Indian economy. One of the major data sources is the Census data. However, one of the major problem with this data source is that it’s published only once in every ten years. Therefore, economic study of India and National sample survey can provide with a more continuous data set related to Indian economy. Majority of the financial data is published by the Reserve Bank of India. Data on pollution and environmental standards are published by Central Pollution Control Board. Data related to petroleum products are published by Ministry of Petroleum. Data related to hygienic condition of Indian states are published by Ministry of Health and Family Welfare. Data related to income inequality are published by Ministry of Consumer Affairs, Food and Public Distribution. Data related to energy consumption and pricing are published by Ministry of Power. Overall time series data on India are published by the World Bank. To know more about the data sources, kindly browse the pages of articles.tutorsexchange.com.