Converting data info infon to understand past and current pe

Converting data info infon to understand past and current performance is the core of descriptive analytics and is vital to making good business decisions.

In the financial industry describe the details of a specific graphical representation of the distrubition of data a histrogram. What is the business or economic scenario?

Where would you find the data you needed to create your histogram? Which company reports or document would you use for your research?

Solution

Histogram: This is a diagram of frequency distribution based on various class intervals. It shows adjoining rectangles in the vertical direction on horizontal base line. Heights of rectangles are the comparison between each class.

In a financial industry, wages might be the class intervals of the frequency distribution, the number of employees. Each class comprises of a specific wage structure which earns a specific number of employees. The diagram shows, which wage-structure are having the highest number of employees.

It indicates the business or economic scenario, since spending money is involved. The organization has to take decision whether employees could be promoted to higher grade or not.

The data for creating histogram could be found from company register like payroll book, attendance sheet, etc.

The report of wages of employees is used here for histogram.