Stata is another econometric analysis software which provides panel data econometrics with proficiency. It is mostly used for subjects and research works which come under the discipline of social sciences and health sciences. The data management features of this program allow it to control all types of data which makes it suitable for the secondary data analysis too. With Stata, the variable management and compilation of statistics based on groups and repeated data become easier. Other than this, Stata also has publication-quality graphic programming systems as well.
01 It analyses in code and window forms both.
02 It is compatible with Windows, Mac and Unix computer platforms
03 It has strong data management features.
04 It has a simple point and click interface to make it easier to use.
How Do We Work?
After creating the project folder and working directory on Stata, the data gets examined to identify the collection method.
Then we identify the variables of interest and provide them with unique variable ids to easily figure out the problematic ids later on.
Each variable gets classified either categorically or numerically according to descriptive statistics, value labels and codebooks to find out their values.
The values with non-answers get checked thoroughly and treated accordingly.
To make the data further suitable, the variables with fewer jobs than others and nonsensical values or response patterns get dropped down.
Frequencies are used to identify ordinal vars and numerical vars with 7 or less value.
Descriptive statistics, histograms and categorical variables are then checked in order to make sure whether they need to be grouped further or not.
These groups are then compared to each other as well and the relationship between the vars gets established before running the final analysis.
Lastly, after running the final analysis, the data analysis and inconsistencies of the data can be noted down with the help of Stata.
How Does Stata Help?
Stata is majorly popular because of its panel data analysis. It is a program that can be used for dynamic panel data analysis, article modelling, multilevel mixed models, generalized prediction equation analysis, cluster analysis, sample selection model, multiple loss data replacement, status-control analysis, standardization of ratios, basis tables, summary statistics and so on. Not just this, but it can also be used for regression diagnostics, time series and linear models to provide an overall assistance to the data analysts, researchers and scholars for their secondary data analysis requirements. Below are some of the most common uses of Stata Programming which are included in the StatWorkz services as well.
Time Series
The time series supported by Stata includes data variables, cointegration test, granger causality, QLR test to detect unknown breaks, cross-correlation, serial correlation, white-noise or chow test.
Matrix Programming
This is an interactive programming environment to manipulate matrices and compile them to generate optimized codes. It can perform operations on real or complex matrices and provides an object oriented approach.
Broadcast Quality Graphics
Stata also allows the generation of regression application graphics, life drawings, distributional drawings and contour graphics with the help of the integrated graphic editor.
Logistics Regression Diagnostics
Stata also provides the program to provide reliable logistics Regression Diagnostics in the absence of which the conclusion can have biased coefficient estimates or large standard errors. These issues can lead to problems related to invalid statistical results in secondary data analysis.