Statisticians, Business managers, Project Managers, Management executives, CEOs, COOs, Whatever designations and roles you are performing in. You need to measure and represent data as metrics as relevant to your business and as required by the management. This applies to all industries and domains. The measurement of data is not so easy and requires a Scale to be measured. The scales that are used for measurement is not the same for all types of data and varies.
For example the way we measure Temperature and voting Population Percentage are both different, because temperature is a continuous data and Population is discrete data (Count).
Basically, there are four types of scales present:
- Nominal Scale
- Ordinal Scale
- Interval Scale
- Ratio Scale
The below table will clearly explain the purpose and nature of each scale.
Thus one has to use the appropriate scale and the related Analysis to get the best business results with the data.