In the modern era data is vital for any business hence, all the companies launch their product keeping in mind the data which they collect from different resources, even the projection of revenue is dependent on the data forecasting.
Since with MBA you would be transformed as a budding manager who will join a company and over there it will be the Data primary or secondary, you would be dealing with Data day in and day out.
Because of the obvious reason of the above, Data Interpretation is the section which is common to all MBA entrance examinations hence, it is important and crucial to understand interpretation of the Data.
Data Interpretation is mostly given in tabular form or in pie charts and graphical presentations, we need to understand in a calculative manner and interpret the Data.
Data although a numerical format and can be understood while observing the comparison of the data with the commonsense and then put a hypothesis into that before calculating the Data.
The other area of Data Interpretation is that it needs to be done with crucial accuracy along with the speed and for this matter you need to be at your best at the fundamentals of arithmetic of the percentages and numbers.
Data Interpretation requires a constant practice and in the absence of any formulas, interpretation of the Data can be hypothecated with multi dimensional conclusions hence, you need not bother about the understanding of the Data from the others point of you but you need to stick to your own reasoning and present the data a per your hypothesis.
Idea of Data Interpretation is that what is that which convinces you to interpret the Data but a constant factor remains the source and credibility of Data.
In the present world where big Data has become a source of forecasting of future in the Company Boards, it is important to get on to Data Interpretation in a big way with which the understanding of this subject will not only help to crack Data Interpretation in MBA examinations but you will carry on the confidence of understanding when you will be employed with the Company.