The first stage of most decision making in business is gathering data. In most cases the information is collected in the form of words (also called qualitative data, or unstructured data). For instance, marketing researchers conduct focus groups, perform in-dept interviews, or use open-ended questions in surveys to enable product managers and sales representatives to choose the best product design and the most effective message to convey to customers. Another example is human resource managers who conduct interviews with candidates to enable the company to choose the best candidate for the job. Once the gathering of data is complete, and the words are available, the professionals who gathered the data perform an analysis of these words.
A recent study (Craigie M, Loader B, Burrows R, Muncer S. Reliability of Health Information on the Internet: An Examination of Experts’ Ratings. Journal of Medical Internet Research. 2002 Jan-Mar;4(1):e2) measured how consistent are experts when they analyze qualitative data. The data included the text from 18 threads (series of connected messages) posted on a message board by individuals suffering from a chronic disease. Each...
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