Using Tools to Manage Data21st November 2020
Review of the Most Popular Data Analysis Tools for Your Business:
Data analysis is the process of working on data with the purpose of arranging it correctly, explaining it, making it presentable, and finding a conclusion from that data.
It is done for finding useful information from data to make rational decisions.
As it is done for decision making, it is important to understand the sole purpose of data analysis. The main purpose of data analysis is interpretation, evaluation & organization of data and to make the data presentable.
Data Analysis Methods
There are two methods of data analysis:
- Qualitative Analysis
- Quantitative Analysis
Qualitative Analysis: Qualitative Analysis is done through interviews and observations.
Quantitative Analysis: Quantitative Analysis is done through surveys and experiments.
Data Analytics Process
Data Analytics Process includes:
- Data Collection
- Working on data quality
- Building the model
- Training model
- Running the model with full data.
Some tips to analyze the data are:
- Remove unnecessary data before the analysis.
- You should not perform the analysis on a master copy of data.
Data analysis is done with the purpose of finding answers to specific questions. Data analytics techniques are similar to business analytics and business intelligence.
Data Mining is about finding the different patterns in data. For this, various mathematical and computational algorithms are applied to data and new data will get generated.
Data Modeling is about how companies organize or manage the data. Here, various methodologies and techniques are applied to data. Data analysis is required for data modeling.