GLOSSARY: What is data analysis?

It is the process of systematically evaluating, sorting, and interpreting data to obtain relevant insights for assessing patterns and trends. Data analysis gives business data real meaning. With high-quality data analysis, management can make well-informed and strategic decisions.

How does it work?

• The first step is collecting data from various sources.
• Next comes data sorting and cleaning — removing duplicates and errors, and formatting data for accurate comparison.
• Then the data is analyzed to identify patterns, trends, and anomalies.
• An essential part of the process is data visualization. Data is displayed through charts, graphs, and tables for better understanding and presented in reports and dashboards.

Data Analysis

Data analysis is essential in every business. It helps improve process performance, identify opportunities for growth, and solve problems based on relevant data. Contact us and let’s discuss how to integrate data analysis into your business.