Data Analysis Overview

Data Analysis Overview

What is data analysis?

Data analysis refer to the process of converting large amount of raw unstructured or unorganized data and usually comes from different sources.

There is a range of data analysis which is correlated to the type of data being examined:

Determining employee performance, Sales performance by sales (person or department) are the concentration of some businesses. However, economic experts might look for different patterns that explain the spend habits of the consumers.

What are the types of data analysis?

There are various types of data analysis. It all depends on the nature of data that we are going to analyze. In general, there are two categories of data analysis: qualitative analysis and quantitative analysis.

-          Qualitative Analysis:

It is analyzing data by its categories which is usually from descriptive content such as text.

Data can be collected by different ways for instant, interviews, audio recording, videos, etc. After collecting data, it need to be interpreted by (coding) which is categorizing data into different themes then gives each them unique label. Data must be interpreted; however, coding is not the only way to interpret data.

       “According to (Seidel, 1998) qualitative analysis summarized in three principals: notice things, collect things, and think about things”

Second category of data analysis is: Quantitative analysis

It is the process of analyzing numerical data which is often include descriptive statistics like standard deviation.

Quantitative analysis involves: statistical models, statistical significance, analysis variables and    analysis of relationships between variables.

What are the benefits of data Analysis:

The benefits of data analysis are somehow obvious.by looking any existing data, businesses can be improved their processes, they can identify problematic issues. With data analysis, businesses can make reliable improvements and accurate decisions.

Here is some of the data analysis’s benefits in few points:

-          Data analysis helps businesses identify performance problems that can solves by some sort of action.

-          It gives businesses better awareness concerning habits of positional customers.

-          Data analysis also leads to faster and better decisions by viewed data in a visual manner.