What do we understand by data?
In your day to day life, you might have come across the information, such as:
i) Runs made by a batsman in the last 10 test matches.
ii) Number of wickets taken by a bowler in the last 10 ODIs
iii) Marks scored by the students of your class in the mathematics unit test.
iv) Number of story books read by each of your friends etc.
The information collected in all such cases is called data. Data is usually collected in the context of a situation that we want to study. For example, a teacher may like to know the average height of students in her class. To find this, she will write the heights of all the students in her class, organised the data in a systematic to give a clear idea of what it represents.
Data refers to facts or numbers, collected for analysis, consideration and useful for decision making. It is in raw form i.e. it in a scattered form. Information refers to data being arranged and presented in a systematic or an organized form, so that some useful inferences can be drawn from the same. By data we generally mean quantities, figures, statistics, relating to any event.
As the name implies, Data Interpretation is extraction of maximum information, as required by us from the given set of data or information. In other words the act of organizing and interpreting data to get meaningful information is known as Data Interpretation.
Banking recruitment tests also check your ability to calculate fast, and comprehend relevant information. As managers of tomorrow, you will constantly come across data in different forms - Tables, Pie-charts, Bar-graphs, Line-graphs, etc. Hence it is imperative that you be fast at Data Interpretation.
Weight age of Data Interpretation in different exams
Generally Data Interpretation forms a separate section by it self in most of the exams. The numbers of questions vary from 25 to 40. Thus we can conclude that a weight age of approximately 20% is given to Data Interpretation. In most of the exams Data Interpretation is accompanied with Data Sufficiency, while a few other exams may also put logical reasoning as a part of Data Interpretation.
1) Tables: every conceivable type
2) Pie Charts or Pie Graphs or Circle Graphs
3) Bar Charts
a) Vertical
i) Single
ii) Cluster (Multiple)
iii) Stacked
b) Horizontal
i) Single
ii) Cluster
iii) Stacked
4) Cartesian Graph or two Dimensional X - Y graph
a) Single Line, Single Axis
b) Multiple Lines, Single Axis
c) Multiple Lines, Double Axes
5) Venn Diagrams (Set Theory based)
6) Direction Graph
7) Case or Case Lets or Paragraph form
8) Triangular Diagram
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