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DATA ANALYSIS
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INTRODUCTION
The process through which students are taught to
collect, study, interpret and analyse the data, that
will help to create strategies for the company is
known as data analysis. In a world full of data, a data
analysis professional is the one who is required the
most in the international market and every field or
type of business plan.
Types of data
There are two types of data:
• Quantitative data, collected and analysed in the form of numbers and figures.
• Quantitative data, collected through surveys and interviews.
The data is used for analysing and planning. This further makes data analysis a vast subject.
Types of analysis
There are various types of analysis done on the data collected such as:
• Descriptive data that is used to describe the changes in the data over some time.
• Diagnostic analysis refers to the analysis in which a cause is found for a particular situation and event, as to
why it happened.
• Predictive analysis is one where the predictions are made while looking for analysis out of data.
• The prescriptive analysis is one where the expert can decide upon the action to be taken over an event.IEEE
Important topics taught under data
analysis
Some of the important data analysis topics are:
Analysis of variance
Sample size
Correlation
Regression
Experimental design, etc.
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