What Is Data Analysis?

Data analysis is the process of inspecting, cleaning, transforming, and modeling data in the hopes of uncovering useful information and supporting the process of making decisions. It can be accomplished with various statistical and analytical methods, such as descriptive analysis (descriptive statistics such as proportions and averages), cluster analysis, time-series analyses, and regression analysis.

To conduct page a successful data analysis it is essential to begin with a clearly defined research question or objective. This will ensure that the analysis is focused on the relevant aspects and provide valuable insights.

Once a clear research question or objective is established, the next step in data analysis is to collect the required information. This can be done by using internal tools like CRM software as well as business analysis software internal reports, as well as external sources such as questionnaires and surveys.

The data is then cleaned by removing anomalies, duplicates, or other errors in the dataset. This is known as « scrubbing » and can be done manually or with automated software.

Data is then summarized to aid in analysis, which is done by constructing a tables or graph using a series of measurements or observations. These tables can be either one-dimensional or two-dimensional, and they are either numerical or categorical. Numerical data may be discrete or continuous. Categorical information can be ordinal or nominal.

The data is then analysed using a variety of statistical and analytical techniques to solve the problem or reach the objective. This can be done by visualizing the data, doing regression analysis, testing the hypothesis, and so on. The results of data analysis are then used to interpret what actions are able to support the goals of an organization.