WHAT IS DATA ANALYSIS?
Data analysis is a process of data testing, refining, transforming and modeling with the aim of discovering useful information, informing conclusions, and supporting decision making.
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There are multiple aspects and approaches to data analysis, incorporating different strategies in different names and it is used in different business, science and social science domains. In today's business world, data analysis plays a role in making decisions more scientific and helping businesses operate more effectively.
WHY IS IT IMPORTANT?
Data analysis is an internal organizational procedure carried out by data analysts that is more than simply presenting numbers and figures to decision making section of the entire management. This requires a more profound approach to record, analyze and destroy the data and present the findings in a more easily comprehensible format.
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With a data analysis one will be able to provide a company with decision-making insight into the following key areas:
1. Predict customer trends and behaviours
2. Analyse, interpret and deliver data in meaningful ways
3. Increase business productivity
4. Drive effective decision-making
