What Is Data Analysis and Why Is It Important?

Data analysis is the process of evaluating data using analytical and statistical tools to discover useful information and aid in business decision making. There are a several data analysis methods including data mining, text analytics, business intelligence and data visualization. How Is Data Analysis Performed? Data analysis is a part of a larger process of deriving business intelligence. The process includes one or more of the following steps: Defining Objectives: Any study must begin with a set of clearly defined business objectives. Much of the decisions made in the rest of the process depends on how clearly the objectives of...

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