Summarizing Data

A large amount of data without processing and summarizing is not understandable and sensible and even is ambiguous and confusing to be. In order to make sense and tangible the set of observations, it is necessary to summarize them with statistical indicators in order to provide a clear picture of the entire dataset. These measures also condense the dataset down to a few representative indexes and are usually brought into two general headings, “central tendency” and “dispersion indicators”, to represent the entire data distribution and form the basis of descriptive statistics.