Jobs
Data Analysis
Data analysisis the systematic process of inspecting, cleansing, transforming, and modeling data to discover useful information, draw conclusions, and support decision-making1. It involves applying various techniques and tools to extract meaningful insights from raw data, helping in understanding patterns, trends, and relationships within a dataset2.
Key Principles of Data Analysis
Data Collection: Gathering relevant data from various sources. This can include internal sources like a company's CRM software or external sources like government records or social media APIs1.
Data Cleaning: Preparing the data for analysis by removing duplicates, reconciling inconsistencies, and standardizing data formats1.
Data Analysis: Manipulating the data using various techniques to find trends, correlations, outliers, and variations1.
Interpretation: Interpreting the results to see how well the data answers the original question and making recommendations based on the data1.
Types of Data Analysis
Descriptive Analysis: This type of analysis helps describe or summarize quantitative data by presenting statistics. It answers the question, “what happened?”1.
Diagnostic Analysis: This analysis determines the “why” behind the data. It answers the question, “why did it happen?”1.
Predictive Analysis: Uses data to form projections about the future. It answers the question, “what might happen in the future?”1.
Prescriptive Analysis: Uses insights from the first three types of analysis to form recommendations for future actions. It answers the question, “what should we do about it?”
Understanding Data Analysis
Staveley is a town and civil parish in the Borough of Chesterfield, Derbyshire, England. Located along the banks of the River Rother. It is (5 miles) northeast of Chesterfield, (5 miles) west of Clowne, (5 miles) northwest of Bolsover, (11 miles) southwest of Worksop and (13 miles) southeast of Sheffield.
