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Discussion about Data Analysis?

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What is Data Analysis?

Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making.

The process of evaluating data using analytical and logical reasoning to examine each component of the data provided.

This form of analysis is just one of the many steps that must be completed when conducting a research experiment. Data from various sources is gathered, reviewed, and then analyzed to form some sort of finding or conclusion.

There are a variety of specific data analysis method, some of which include data mining, text analytics, business intelligence, and data visualizations.

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The nature of data analysis varies, and correlates to the type of data being examined. For example, a business may concentrate on things such as determining employee performance, sales performance by department or sales person, etc. An economist, however, might look for identifiable patterns that explain the spending habits of various consumers.

Types of Data Analysis

1)Quantitative analysis
2)Qualitative analysis.

Qualitative Analysis:

Qualitative analysis deals with the analysis of data that is categorical in nature. In other words, data is not described through numerical values, but rather by some sort of descriptive context such as text.

Data can be gathered by many methods such as interviews, videos and audio recordings, field notes, etc.

Qualitative analysis can be summarized by three basic principles .

  • Notice things
  • Collect things
  • Think about things

Quantitative Analysis:

Quantitative analysis refers to the process by which numerical data is analyzed, and often involves descriptive statistics such as mean, media, standard deviation, etc.

Following are often involved with quantitative analysis:

  • Statistical models
  • Analysis of variables
  • Data dispersion
  • Analysis of relationships between variables
  • Contingence and correlation
  • Regression analysis
  • Statistical significance
  • Precision
  • Error limits

Video Tutorial about Data Analysis

posted Nov 19, 2014 by anonymous

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