/home/leansigm/public_html/components/com_easyblog/services<title>Is the external data source relevant?</title>
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	<h1>Is the external data source relevant?</h1>
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			<span class="post-date">Jul 20</span>

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				Posted by <a href="/forum/user/431-nitin-sinha">Nitin Sinha</a>				in <a href="/resources/sigmaway-blog/analytics">Analytics</a>			</span>
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	<p>External factors have a great influence on businesses thus understanding these factors is very crucial when building a statistical forecast. To know whether an external factor has influence on our analysis or not we should consider the following aspects-</p>
<p>1.Consistency- This means how volatile is the data.</p>
<p>2.Accessibility-This is the ease with which we get data.</p>
<p>3.Frequency of getting data- For yearly decision making a quarterly data would do good but for frequent decision making daily data fits best.</p>
<p>4.Data Granularity-The granularity of data refers to the size in which data fields are sub- divided.</p>
<p>To read more-&nbsp;<a href="http://revenueanalytics.com/blog/uncovering-external-influences-in-your-analytics/" target="_blank">http://revenueanalytics.com/blog/uncovering-external-influences-in-your-analytics/</a></p>
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		<a href="/blog/tags/external-data">
		<span itemprop="keywords">external data</span>
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		<a href="/blog/tags/big-data-1-2">
		<span itemprop="keywords">Big Data</span>
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		<a href="/blog/tags/predictive-analytics-1">
		<span itemprop="keywords">predictive analytics</span>
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