Data analysis is the process of inspecting, cleaning, transforming, and modeling data to discover useful information and support decision-making. It involves collecting, organizing, and analyzing data using statistical and analytical techniques to identify patterns, trends, and relationships. The goals of data analysis include identifying trends and patterns, making predictions, identifying relationships, and supporting informed decision-making. Common techniques include statistical analysis, predictive analysis, and prescriptive analysis.
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Data Analysis
Data analysis is the process of inspecting, cleaning, transforming, and modeling data to discover useful information and support decision-making. It involves collecting, organizing, and analyzing data using statistical and analytical techniques to identify patterns, trends, and relationships. The goals of data analysis include identifying trends and patterns, making predictions, identifying relationships, and supporting informed decision-making. Common techniques include statistical analysis, predictive analysis, and prescriptive analysis.
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Data Analysis Dr.
Emmanuel Hans Associate Professor ,Lincoln University College, Malaysia
Data analysis, is a process for obtaining raw data, and
subsequently converting it into information useful for decision- making by users. Data, is collected and analyzed to answer questions, test hypotheses, or disprove theories. Data analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision- making. This type of analysis helps describe or summarize quantitative data by presenting statistics. For example, descriptive statistical analysis could show the distribution of sales across a group of employees and the average sales figure per employee. Descriptive analysis answers the question, “what happened?” Data analysis simply refers to the process of applying logical and analytical reasoning in the evaluation of data. Data analysis involves the modeling, compiling and extraction of all components of the raw data to generate constructive information. Data analysis is one of the most important steps involved in the process of research experiment. The purpose of data analysis is to extract valuable insights and information from data, which can be used to inform decision-making, identify trends and patterns, and support research and development efforts. in the process of research experiment. Example of Data Analysis A simple example of Data analysis is whenever we take any decision in our day-to-day life is by thinking about what happened last time or what will happen by choosing that particular decision. This is nothing but analyzing our past or future and making decisions based on it. For that, we gather memories of our past or dreams of our future. So that is nothing but data analysis. Now same thing analyst does for business purposes, is called Data Analysis.in the process of research experiment. Purposes of data analysis The purpose of data analysis is to extract useful insights and information from data. Data analysis involves collecting, cleaning, and organizing data, and using statistical and analytical techniques to identify patterns, trends, and relationships in the data. Data analysis is used in a variety of fields and industries, including business, science, engineering, and social science. It can be used to inform decision-making, identify trends and patterns, test hypotheses, and support research and Purposes of data analysis Some common goals of data analysis include: Identifying trends and patterns: Data analysis can be used to identify trends and patterns in data, which can provide valuable insights into how a system or process is functioning. Making predictions: Data analysis can be used to make predictions about future outcomes or trends based on past data. Purposes of data analysis Identifying relationships: Data analysis can help to identify relationships between different variables or factors, which can provide insight into how different factors influence each other. Supporting decision-making: Data analysis can provide a basis for informed decision- making by providing data-driven insights that can help to guide strategic planning and policy development. Data Analysis Process The Data Analysis Process is nothing but gathering information by using a proper application or tool which allows you to explore the data and find a pattern in it. Based on that information and data, you can make decisions, or you can get ultimate conclusions. Data Analysis consists of the following phases: •Data Requirement Gathering •Data Collection •Data Cleaning •Data Analysis •Data Interpretation •Data Visualization Data Analysis: Techniques and Methods Statistical Analysis Statistical Analysis shows “What happen?” by using past data in the form of dashboards. Statistical Analysis includes collection, Analysis, interpretation, presentation, and modeling of data. It analyses a set of data or a sample of data. There are two categories of this type of Analysis – Descriptive Analysis and Inferential Analysis. Descriptive Analysis analyses complete data or a sample of summarized numerical data. It shows mean and deviation for continuous data whereas percentage and frequency for categorical data. Inferential Analysis analyses sample from complete data. In this type of Analysis, you can find different conclusions from the same data by selecting different samples. Data Analysis: Techniques and Methods Predictive Analysis Predictive Analysis shows “what is likely to happen” by using previous data. this Analysis makes predictions about future outcomes based on current or past data. Forecasting is just an estimate. Prescriptive Analysis Prescriptive Analysis combines the insight from all previous Analysis to determine which action to take in a current problem or decision. Most data-driven companies are utilizing Prescriptive Analysis because predictive and descriptive Analysis are not enough to improve data performance. Based on current situations and problems, they analyze the data and make decisions. Top Data Analysis Tools Here's a list of the top seven data analysis tools in terms of popularity, learning, and performance. •Tableau Public •R Programming •Python •Apache Spark •SAS •Excel •RapidMiner Statistics Statistics is the science of collecting, analyzing, presenting, and interpreting data. Governmental needs for census data as well as information about a variety of economic activities provided much of the early impetus for the field of statistics. Data are the facts and figures that are collected, analyzed, and summarized for presentation and interpretation. Data may be classified as either quantitative or qualitative. Quantitative data measure either how much or how many of something, and qualitative data provide labels, or names, for categories of like items. Qualitative and Quantitative Variables For example, suppose that a particular study is interested in characteristics such as age, gender, marital status, and annual income for a sample of 100 individuals. These characteristics would be called the variables of the study, and data values for each of the variables would be associated with each individual. Thus, the data values of 28, male, single, and $30,000 would be recorded for a 28-year-old single male with an annual income of $30,000. With 100 individuals and 4 variables, the data set would have 100 × 4 = 400 items. In this example, age and annual income are quantitative variables; the corresponding data values indicate how many years and how much money for each individual. Gender and marital status are qualitative variables. The labels male and female provide the qualitative data for gender, and the labels single, married, divorced, and widowed indicate marital status. Qualitative and Quantitative Variables For example, suppose that a particular study is interested in characteristics such as age, gender, marital status, and annual income for a sample of 100 individuals. These characteristics would be called the variables of the study, and data values for each of the variables would be associated with each individual. Thus, the data values of 28, male, single, and $30,000 would be recorded for a 28-year-old single male with an annual income of $30,000. With 100 individuals and 4 variables, the data set would have 100 × 4 = 400 items. In this example, age and annual income are quantitative variables; the corresponding data values indicate how many years and how much money for each individual. Gender and marital status are qualitative variables. The labels male and female provide the qualitative data for gender, and the labels single, married, divorced, and widowed indicate marital status. Descriptive Statistics Descriptive statistics are tabular, graphical, and numerical summaries of data. The purpose of descriptive statistics is to facilitate the presentation and interpretation of data. Most of the statistical presentations appearing in newspapers and magazines are descriptive in nature. Univariate methods of descriptive statistics use data to enhance the understanding of a single variable; multivariate methods focus on using statistics to understand the relationships among two or more variables. To illustrate methods of descriptive statistics, the previous example in which data were collected on the age, gender, marital status, and annual income of 100 individuals will be examined.