Data Analysis

VANTHARR
 Table Contents

– Definition
– Introduction
– Why is Data Analysis Important?
– Data Analysis Process
– Types of Data Analysis
– Conclusion

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 Definition

Data analysis is the process of cleaning, changing,

and processing raw data, and extracting actionable,
relevant information that helps businesses make
informed decisions.

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 Introduction

• A simple example of data analysis can be

seen whenever we take a decision in our
daily lives by evaluating what has
happened in the past or what will happen
if we make that decision.
• Basically, this is the process of analyzing
the past or future and making a decision
based on that analysis.
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 Why is Data Analysis Important?
• Better Customer Targeting:
• You Will Know Your Target Customers
Better:
• Reduce Operational Costs:
• Better Problem-Solving Methods:
• You Get More Accurate Data:

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 Data Analysis Process
Data Requirement Gathering:
• Ask yourself why you’re doing this
analysis, what type of data analysis you
want to use, and what data you are
planning on analyzing.
Data Collection:
• Guided by the requirements you’ve
identified, it’s time to collect the data from
your sources.
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 Data Analysis Process
Data Cleaning:
• Not all of the data you collect will be
useful, so it’s time to clean it up. This
process is where you remove white spaces,
duplicate records, and basic errors.
Data Analysis:
• Here is where you use data analysis
software and other tools to help you
interpret and understand the data and
arrive at conclusions. ●●●
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 Data Analysis Process
Data Interpretation:
• Now that you have your results, you need
to interpret them and come up with the
best courses of action, based on your
findings.
Data Visualization:
• Data visualization is a fancy way of saying,
“graphically show your information in a way
that people can read and understand it.”
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 Types of Data Analysis

Descriptive Analysis:
Descriptive analytics is the interpretation of historical
data to better understand changes that have
occurred in a
Business. Answer the question "What happened?"
Descriptive analytics can help to identify the areas of
strength and weakness in an organization.
EX. Previous sales data of amazon ,
It can be represent in form of graph or pichart ●●●
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STEPS IN DESCRIPTIVE ANALYSIS

Descriptive Analysis:
STEPS IN DESCRIPTIVE ANALYTICS
 State Business Metrics
 Identify the data required
 Extract and prepare data
 Analyze data
 Present data

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STEPS IN DESCRIPTIVE ANALYSIS

Descriptive Analysis:

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STEPS IN DESCRIPTIVE ANALYSIS

Descriptive Analysis:

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STEPS IN DESCRIPTIVE ANALYSIS

Descriptive Analysis:

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 Types of Data Analysis

Diagnostic Analysis:
• Diagnostic analysis answers the question, “Why
did this happen?” Using insights gained from
statistical analysis (more on that later!), analysts
use diagnostic analysis to identify patterns in
data. Ideally, the analysts find similar patterns
that existed in the past, and consequently, use
those solutions to resolve the present challenges
hopefully.

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 Steps in DiagonosticAnalysis

Diagnostic Analysis:
DIAGONOSTIC ANALYTICS
 Identify anomalies
 Discovery
 Causal relationship

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 Types of Data Analysis
Predictive Analysis:
• Predictive analysis answers the question, “What is
most likely to happen?” By using patterns found in
older data as well as current events, analysts
predict future events.
• While there’s no such thing as 100 percent
accurate forecasting, the odds improve if the
analysts have plenty of detailed information and
the discipline to research it thoroughly.

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 Types of Data Analysis

Prescriptive Analysis:
• Mix all the insights gained from the other
data analysis types, and you have
prescriptive analysis.
• Sometimes, an issue can’t be solved solely
with one analysis type, and instead requires
multiple insights.

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 Types of Data Analysis

Statistical Analysis:
• Statistical analysis answers the question,
“What happened?” This analysis covers
data collection, analysis, modeling,
interpretation, and presentation using
dashboards.

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 Types of Data Analysis

Qualitative Data Analysis: The qualitative data

analysis method derives data via words, symbols,
pictures, and observations. This method doesn’t
use statistics. The most common qualitative
methods include:
• Content Analysis, for analyzing behavioral and
verbal data.
• Narrative Analysis, for working with data culled
from interviews, diaries, surveys.

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 Types of Data Analysis
Quantitative Data Analysis: Statistical data analysis
methods collect raw data and process it into
numerical data. Quantitative analysis methods
include:
Hypothesis Testing, for assessing the truth of a
given hypothesis or theory for a data set or
demographic.
Mean, or average determines a subject’s overall
trend by dividing the sum of a list of numbers by
the number of items on the list.

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 Conclusion
 Data analysis includes the inspection,
modification, modeling, and transforming of data
as per the need of the research topic.
 The conclusion is the final inference drawn from
the data analysis, review of literature, and
findings.

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