Data Analysis
Introduction to Data Analysis
Data Analysis plays a crucial role in today’s data-centric world. It involves the
practice of inspecting, cleansing, transforming, and modeling data to extract
valuable insights for decision-making. A Data Analyst is a professional primarily
tasked with collecting, processing, and performing statistical analysis on large
datasets. They discover how data can be used to answer questions and solve
problems. With the rapid expansion of data in modern, firms, the role of a data
analyst has been evolving greatly, making them a significant asset in business
strategy and decision0making processes.
Introduction to Data Analytics
Data Analytics is a core component of a Data Analyst’s role. The filed involves
extracting meaningful insights from raw data to drive decision-making processes. It
includes a wide range of techniques and disciplines ranging from the simple data
compilation to advanced algorithms and statistical analysis. As a data analyst, we
are expected to understand and interpret complex digital data, such as the usage
statistics of a website, the sales figures of a company, or client engagement over
social media, etc. This knowledge enables data analysts to support businesses in
identifying trends, making informed decisions, predicting potential outcomes –
hence playing a crucial role in shaping business strategies.
Introduction to Types of Data Analytics
Data Analytics has proven to be a critical part of decision-making in modern
business ventures. It is responsible for discovering, interpreting, and transforming
data into valuable information, Different types of data analytics look at past,
present, or predictive views of business operations.
Data Analyst, as ambassadors of this domain, employ these types, to answer
various questions:
- Descriptive Analytics (what happened in the past?)
- Diagnostic Analytics (Why did it happened in the past?)
- Predictive Analytics (What will happen in the future?)
- Prescriptive Analytics (How can we make it happen?)
