Data Analysis, in simple words, is the processing of raw data into useful information.
In the process of Data Analysis, the first is the extraction of data. Then it is cleaned and processed to gain relevant information used for business and other purposes. There are different techniques for data analysis.
Steps in Data Analysis
There are seven steps involved in data analysis:
In this, the identification of data required by the customer or the one using the end product.
Collection from various sources. These sources can be of any form, recording devices, satellites, documents, interviews, surveys, sensors, and cameras.
After obtaining the desired data, this data is arranged in a structured format readable by the machine. The structured form can be of any form like spreadsheets, tables, or suitable software.
After organizing data in a structured form, they may have duplicate files and errors. Data cleaning is the process of cleaning these kinds of duplicates and errors.
Exploratory Data Analysis
Exploratory data analysis uses data visualization methods to analyze the clean data to reach the desired conclusion. Graphical representation of data is in EDA.
Types of Data Analysis
There are many different types of data analysis some of them are mentioned below:
It is what happened in the past analysis. Data aggression and data mining are the two main techniques in this.
Predictive analysis uses historical data for future prediction and decision-making. It is also known as ‘what will happen’ analysis.
A diagnostic analysis is’ why it happens’ analysis. This type of analysis is for identifying the anomalies in the data and resolving the challenges.
This type of analysis includes drawing different inferences and conclusions from the same set of data.
It is the most simple form of data analysis. Unstructured texts are the raw data for the extraction and classification of data.
Need for Data analysis
Data analysis is very important for business organizations. It helps businesses to eliminate problems and grow.
Benefits of Data analysis
Data analysis helps business organizations to improve their customer relationships. It helps them understand the requirements of the customers and serve them better. Also, it helps in solving the grievances of the customer and improves business performance.
Want to improve your business and reach new heights, then you should learn and implement Data Analysis!
As Data analysis is a crucial requirement of business, If you want to learn more about Data Analysis, please visit the link given and learn more about Data Analysis. All the concepts of Data Analysis have been compiled into a Certification Assessment Course. This Assessment will help you to check and enhance your knowledge about the subject and offer you to get certified from The Growth Central VC. This Assessment has been made considering the latest scenario of the industry.