What Is Data Analysis: All You Need To Know About It

Share

The process of inspection, modeling and clearing data to extract useful information for decision making is termed as Data analysis. It encompasses the interpretation of the gathered data to determine the logical pattern, relationship, and trends among the derived services.

Data can be categorized into two types- Qualitative Data and Quantitative Data.

Qualitative data depict description which needs to be observed but cannot be calculated. For example, if we are doing research on the percentage of hardworking students in a particular school. The data collected is qualitative data which needs to be observed to derive results.

Similarly, if we are doing research on how many female students opt out of school every year due to domestic pressure, the data collected is quantitative data which can be calculated.

According to an essay writer, Different researches require different sizes of data to be dealt with. In some cases, there are small companies who have limited staff and restricted work because of which the data that is analyzed for the growth of the company is very small and are dealt with traditional data processing application software.

There are also national-level surveys done worldwide which require big data analytics.

This is a system that systematically extracts information from large and complex data that cannot otherwise be handled by traditional application software.

What Are The Different Kinds Of Data Analysis?

  • Analysis Based On Text- When you get inside a large amount of data to discover a pattern in it. This process called data mining. Raw data converted into business information. Business intelligence tools used to take business decisions. These tools help in extracting data brings out the pattern in them and also helps in interpreting data.
  • Statistical Analysis- The data that has been used in the past is used in the form of dashboards. The steps that are included in the process of statistical data are –
  • Collecting the data
  • Analyzing the data.
  • Interpreting the data
  • Presenting and modelling the data.

This type of analysis can be done in a descriptive or inferential form i.e, different conclusions can be drawn by deriving different samples.

  • Diagnostic Analysis-Diagnostic analysis is a process where data is diagnosed for similar problems. If there is an issue in a business you are dealing with, you can use this type of analysis to dive into the data to find whether there are any similar problems cropping up.
  • Predictive Analysis– This kind of analysis done to predict what is likely to happen with the help of past data. For example, if we have saved a certain amount of money last month than looking at the expense data and using predictive analysis we can say that the same amount of money will be saved this month in case there are no emergency expenditures.
  • Prescriptive Analysis– As per assignment help experts, when we gather insights from all previous analysis to figure out what action to be taken to deal with a current problem. The analysis involved to do this is called prescriptive analysis.

Phases Involved In The Process Of Data Analysis

The entire process of data analysis can be split into six different phases-

  1. Gathering Required Data– Gathering the required data tells us which process of data analysis should be taken to structure the unstructured data.
  • Collection Of Data– Data Collection data gives us a clear picture on what are the things that are needed to be measured and what should be the findings. Since the data collected and kept from different sources it should be sorted for analysis.
  • Cleaning Of Data– The data should be checked and cleaned for duplicate records, errors or blank spaces. Data cleaning must be done before we put the data through any kind of analysis. The accuracy of the analysis depends greatly on how clean the data is.
  • Analyzing The Data– Data analytics tools can help you analyze the data and interpret it better during the process of data analysis.
  • Interpreting The Data– Post Analysis the data interpreted either with the help of simple words or by using tables and charts depending on the type of representation to be done.
  • Visualizing the Data– This is the final phase of data analysis, usually done with the help of charts and graphs. Any data which is shown graphically is much easier to comprehend for an induvial. Many unknown facts can be derived during the process of data visualization which can otherwise skip a person’s attention.

Conclusion-

Thus, we can say that data analysis required in every sphere of life in some form or the other. Mastering data analysis has become very easy in today’s world. Because there are a lot of modern tools available in the market which help in data analysis. You can also seek help from an online assignment writer for data analysis.