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What is the data analysis process?

Answer»

Data analysis generally refers to the process of assembling, cleaning, interpreting, transforming, and modeling data to gain insights or CONCLUSIONS and generate reports to help businesses become more profitable.  The FOLLOWING diagram illustrates the various steps involved in the process: 

  • Collect Data: The data is collected from a variety of SOURCES and is then stored to be cleaned and prepared. This step involves removing all missing values and outliers. 
  • Analyse Data: As soon as the data is prepared, the next step is to analyze it. Improvements are made by RUNNING a model repeatedly. Following that, the model is validated to ensure that it is meeting the requirements. 
  • Create Reports: In the end, the model is implemented, and reports are generated as well as distributed to STAKEHOLDERS. 


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