Understanding of Quantitative information

Quantitative information  forms the core of what organization must know to operate effectively .It give us the stories  from which we can get the involved number and its relationship. In other words , it simply belong to the class of information , that communicate the quantity of something .It is not boring and interesting it is up to us to give a clear and unhindered voice to that information and its story , using language that is easily understood by your audience .

Quantitative  stories include two types of data :

• Quantitative  ( Quantitative values measures things  e.g. no . Of patient , count of activities)
• Categorical    (Categories divide information into useful groups. e.g. activity name , activity categories.)

Quantitative stories always  feature relationships.

These relationships involve either:

• Simple association between Quantitative values and corresponding Categorical items  and
• More complex association among multiple sets of Quantitative values

Categorical items exhibit  four type of relationships:

1. Nominal
2. Ordinal
3. Interval
4. Hierarchical

Quantitative values exhibit  three type of relationships:

1. Ranking
2. Ratio
3. Correlation

Measure of money

• When comparison of monetary value are expressed across time , adjusting the value to account for the inflation produces the most accurate results .

• When reporting monetary values that combine multiple currencies , you must first convert them into a common currency .