Data analysis
What is data analysis
Data analysis is defined as a process of cleaning, transforming, and modeling data to discover useful information for business decision-making.
To gain insight into something or someone, or to solve a complex problem, you need to gather data. This will provide a more accurate or deeper understanding of the problem or person. Insight is understanding, discerned through data that has collected and analysed.
100
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Times faster data analysis and reporting
20%
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Revenue increase
The process of data analysis
The process of data analysis involves gathering all the information, processing it, exploring the data, and using it to find patterns and other insights.
We use data analysis software and other tools to help you interpret and understand the data and arrive at conclusions. Data analysis tools include Excel, Python, R, Looker, Rapid Miner, Chartio, Metabase, Redash, and Microsoft Power BI.
The process of data analysis includes:
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Diagnostic Analysis
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Descriptive analysis
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Predictive analysis
Why we need to opt for data analysis
Turn to data analytics outsourcing to get up to:
80%
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Reduction of operational cost
25%
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Reduction of churn rate
Where data can be taken from
Data is a collection of facts which form the building blocks of insight
Data forms numerical and visual patterns that show us where the gaps are, for instance, where markets are overserved or underserved and how changes in a business affect customers, markets, and profit.
Sources include case studies, surveys, interviews, questionnaires, direct observation, and focus groups. These two different types of data provide different insight through different forms of interpretation : Quantitative data & Qualitative data
Data visualization and interpretation
Data visualization is the graphical or visual representation of data.
Data visualization helps us highlight the most useful insights from a dataset, making it easier to spot trends, patterns, outliers, and correlations.
Two types of data visualization that we utilize are exploratory and explanatory data visualization.