What is data analysis? Examples and how to get started

Data analysis is the process of examining, filtering, adapting, and modeling data to help solve problems and achieve business goals. It involves understanding both quantitative and qualitative data to paint a comprehensive picture. Data analysis includes five types: text analysis, which pulls insights from large amounts of unstructured text-based data; statistical analysis, which identifies meaningful trends in numerical data; diagnostic analysis, which uncovers the causes of certain events or results; predictive analysis, which aims to anticipate future developments and events; and prescriptive analysis, which provides actionable recommendations. The data analysis process involves decision-making, data collection, cleaning, analysis, interpretation, and visualization. Its main purpose is to uncover patterns, trends, and anomalies to make informed decisions, solve problems, and reach business goals. By implementing data analysis, businesses can understand their target audience, inform decisions, improve budget accuracy, identify and solve problems, and ultimately drive growth.