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Industrial Internet of Things Market Size, Outlook, Demand & Forecast

Posted by sara James on September 20, 2024 at 7:55am 0 Comments

The global Industrial Internet Of Things Market size is anticipated to reach USD 1,693.30 billion by 2030 and projected to grow at a CAGR of 23.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is being driven by a significant focus on predictive maintenance, automation, and efficient …

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Whenever there is any data collection, it is essential to keep it safe for future references. Many people prefer collecting and analysing data from previous years so that they can see the progress of their firm or organisation. It is always beneficial to keep a record of the growth so that mistakes can be rectified and avoided in the future.


Qualitative data analysis is defined as the observation and insight drawn from one-to-one interviews, focus groups, and similar methods. It is also known as categorical data, where the information is arranged according to categories like attributes, properties, and other phenomena.


Quantitative data is any quantifiable information that is used for mathematical calculation and statistical analysis.

The types

There are two ways of analysing the data, which are:

  1. Deductive Approach:

It involves analysing the data based on a predetermined structure given by the researcher. A researcher uses the questions as a guide for analysing the data. It is quick and easy. It can be used when there is a fair idea about the likely responses that will be received from the sample population.
  1. Inductive Approach

It is not based on a predetermined structure or a framework. It takes longer and is a thorough approach to the analysis of data. An inductive approach is often used by researchers when they have very little or no idea of the research phenomenon.

What is public opinion?

Public opinion is the collection of ideas and views of many different people. Public opinion research is a way to measure the opinions of a large population by utilising surveys, focus group discussions, and in-depth interviews.


It is essential because:

  1. It identifies the information required to address organisational and service issues
  2. It measures the public’s perception of current affairs, healthcare, and other social services.
  3. It reflects public concerns, beliefs, and values.
  4. It determines where tax dollars are needed and give feedback from communities for the allocation of funds.

How to frame questions?

It is vital to understand the opinions of people. Hence, the questions need to be framed according to the following clarifications:

  1. Are they clear? If a point is missing or confusing, chances are others would not understand the point.
  2. Does the question ask for a dual response? Often it will be drafted for perfect answers.
  3. Is it precise? A good survey question states the object of reference, leaving no room for doubt.
  4. Is the time defined? The period over which the question is related be crucial to the respondent’s answer. Time is a difficult concept for many people.

Is the question loaded?  Reputed market researchers have too much at stake in their work to be caught intentionally biasing a question.

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