Data Analysis Tools and Application: Impact of COVID-19 on UK Economy

This study analyzes the impact of COVID-19 on the GDP of the UK economy through data analysis tools and applications. It covers the methodology, data sources, appropriateness of data, and presentation of data. The study concludes that the pandemic has negatively affected the GDP of the UK economy.

Data analysis Tools and
application

Table of content
Introduction
Background
Methodology
Data sources
Appropriateness of data
Analysis of data
Appropriateness of presentation of data
Conclusion
Group functioning better together and for future
Issues faced and future recommendation
Conclusion

Introduction
Data analysis is being defined as the evaluation of gathered data in order to
reach to some conclusion relating to research area.
The use and analysis of the different data is very important in order to
analyze the fact which is being researched.

Background
Currently the pandemic has created negative impact over the working of
the company and the whole world as well.
This is particularly because of the reason that because of current pandemic
there were different types of issues being created and this affected the whole
economy in negative manner.

Continued..
Aim
To evaluate the impact of COVID 19 over the GDP of economy. A study on UK economy.
Objective
To develop understanding relating to COVID 19 and its background.
To analyze the impact which current pandemic has created over GDP of UK economy.
To examine the various challenges which are being created for UK economy with respect to current
pandemic.
To recommend some of the ways through which GDP of UK economy can be increased post pandemic.

Methodology and own contribution
Method type Selected method
Research type Quantitative
Research approach Deductive approach
Research philosophy Positivism philosophy
Data collection Secondary source
Data analysis Quantitative analysis

Data sources
 The data is very important for the effective analysis of collected information and attaining
the objectives of research.
 For the successful attainment of objectives of research, it is necessary that proper data is
collected from all the reliable and authentic sources.
 In the current research the data used is of official website and it is proper and accurate for
present study.

Appropriateness of data
 The data selected for present research is correct and appropriate.
 The reason pertaining to the fact is that in the present case the impact of pandemic is to be
evaluated pre and post COVID.
 Hence, for this the present data source was appropriate as it is the official website of UK
and it provides all the correct and authentic data only.
 Moreover, the data selected was not too old and because of this it is reliable and valid and
related to the study.

Analysis of data

Appropriateness of presentation of data
 The current way of presentation of data is appropriate because it outlines the working in
proper and effective manner.
 The bar graph provides the details of all the three years and the quarter wise data of GDP
earned by economy.
 Hence, as a result of this the data and graph is presenting clear and concise information
relating to the working of study.

Conclusion
 With the analysis of the above data it is concluded the current pandemic has affected
the working of GDP of economy.
 The reason behind this fact is that the pandemic has resulted in many negative effects
and all this resulted in reduction of the GDP.

Group functioning better together and for
future
 The current research was assistive for me to develop me and other skills where I was lacking.
This is particularly because of the reason that the group working was very helpful.
 The reason behind this fact was that learning in the group was assistive for me to learn how
the work can be accomplished by working with others.
 This was particularly because of the reason that when I was working in team then this
provided me the opportunity to learn from others. This was good because each and every
person is different and good in some or other thing.

Issues faced and future recommendation
 With the help of the team work I was in position to state that the working in a team has
many different types of benefits.
 The major benefit is that when different people work on a single objective then this result in
better working as more ideas are being developed.
 Hence, this provides a wider base to the researcher for developing and attaining the
objectives of business. but there were some of the issues being faced as well.

Conclusion
In the end the study concluded that use of analysis of data is very important.
This is because of the reason that in case the data will not be evaluated properly then
objective of study will not be attained.

References
 Keogh-Brown, M. R., and et.al., 2020. The impact of Covid-19, associated behaviours and policies
on the UK economy: A computable general equilibrium model. SSM-population health. 12.
p.100651.
 Sarkodie, S. A. and Owusu, P. A., 2021. Global assessment of environment, health and economic
impact of the novel coronavirus (COVID-19). Environment, Development and Sustainability. 23(4).
pp.5005-5015.