Well the Answer is a BIG NO!!!!! . This is really an interesting field because…….
Data plays a critical role no matter in which ever fields you are working .But how many of you analyze this data or how many of you really find meaning out of this data? Well I would say only very few people really do that. Now we need to find a meaning out of our collected data because that actually reflects our business .A well collected and analyzed data would always push a business to its upswing while the others would who neglect or don’t try to interpret them finally end up as fools
Properly analyzed data is called as information and for any business, information is wealth and it’s a very critical success factor. So how to convert data into wealth is the next big question and it’s all by doing good analysis and this is where multivariate data analysis comes into picture. Now many people reading this would feel it’s something like rocket science to decode your data to know what it means. Let me tell you that even my 15 year old son can do it; all he needs is proper guidance.
So how to analyze data is left to you, either you go manually or use some software to help you out but finally the most important thing is proper interpretation of your result because this interpretation is something that stands between success and failure. I have seen numerous advertisements from different people or organizations claiming to give a 1 week or 5 day course on Multivariate Data Analysis, just make sure that you don’t miss it because it can help you in many ways .
This field of Multivariate Data Analysis is not just restricted to Chemicals, Food and Beverages, Energy or Pharmaceuticals but the scope is really vast and I would say the more deeper you go, you can see with each further step the depth is only increasing I mean the knowledge that you gain .
We have always heard about children who went missing get reunited with their family after 20yrs or so and the question is how the parents recognized their child after such a long time. Well everyone can say DNA sampling did the trick but not many are aware that a Multivariate Analysis can be used for facial recognition, all we need is to mark anthropometric landmark points on the face and Wallah: your trick is done.
We all would have heard the story of Sharbat Gula , her picture was taken by National Geography in Afghanistan during the war when she was only 13yrs old but later on the same photographer went in search for her and was able to capture her frame again when she was 30yrs old, all tests like retina scanning and others were done to prove that this is the same girl that they are looking out for .Even by multivariate analysis this could have been done so just think about what this magical subject can do for you.
Even in the medical field Multivariate data analysis can help you in a big way .So all I would say is that possibilities are unlimited here.
Well I will be back to update you more about the Multivariate data analysis later ………. so don’t forget to come back