Data analysis is the process of inspecting, cleansing, transforming, and modeling data to discover useful information, inform conclusions, and support decision-making.
Characteristics
– Systematic Approach: Involves a structured method to analyze data.
– Data Cleaning: Ensures data quality by removing inaccuracies and inconsistencies.
– Statistical Techniques: Utilizes various statistical methods to interpret data.
– Visualization: Often includes graphical representations to make data easier to understand.
– Iterative Process: May require multiple rounds of analysis to refine insights.
Examples
– Market Research: Analyzing consumer data to identify trends and preferences.
– Healthcare: Examining patient data to improve treatment outcomes.
– Finance: Assessing financial reports to make investment decisions.
– Social Media: Analyzing engagement metrics to enhance marketing strategies.
– Education: Evaluating student performance data to improve teaching methods.