Module 8

Data Analysis and Presentation

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. The purpose of Data Analysis
is to extract useful information from
data and taking the decision based
upon the data analysis.
 Whenever we take any decision in our
day-to-day life is by thinking about what
happened last time or what will happen
by choosing that particular decision. This
is nothing but analyzing our past or
future and making decisions based on it.
For that, we gather memories of our past
or dreams of our future. So that is
nothing but data analysis. Now same
thing analyst does for business
purposes, is called Data Analysis.
 Four Types of Data
Analysis
• Descriptive Analysis
• Diagnostic Analysis
• Predictive Analysis
• Prescriptive Analysis
Descriptive Analysis
- Descriptive research is a type of
research that describes a population,
situation, or phenomenon that is
being studied.
Descriptive Analysis
- It focuses on answering the how,
what, when, and where questions of a
research problem, rather than
the why.
Business applications of
descriptive analysis include:
➢ Data trends
➢ Monthly revenue reports
➢ Sales leads overview
➢ demographic characteristics of the sample, such as sex,
age, and race. These variables will be the same for most
studies. Other sample characteristics, such as diagnosis,
weight, height, and so forth, also may be important to
provide. Descriptive statistics will describe these
variables.
Diagnostic Analysis
- After asking the main question of
“what happened”, the next step is to
dive deeper and ask why did it
happen? This is where diagnostic
analysis comes in.
Diagnostic Analysis
- takes the insights found from
descriptive analytics and drills
down to find the causes of those
outcomes.
Business applications of diagnostic
analysis include:
➢ A freight company investigating the cause of
slow shipments in a certain region
➢ A SaaS company drilling down to determine
which marketing activities increased trials
Health applications of diagnostic
analysis include:
➢ assess the impact of health IT [health
information technology] on patient safety and
minimizing the risk of its implementation and
use.
Health applications of diagnostic
analysis include:
➢ support decisions about family planning,
future plans, or end-of-life patient care
➢ a blood glucose level, the presence of
infection, or a cardiac or oncology marker at
genetic level
Predictive Analysis
- attempts to answer the question
“what is likely to happen”. This type of
analytics utilizes previous data to make
predictions about future outcomes.
Predictive Analysis
- This analysis relies on statistical modeling,
which requires added technology and
manpower to forecast. It is also important to
understand that forecasting is only an estimate;
the accuracy of predictions relies on quality and
detailed data.
Business applications of predictive analysis
include:
➢ Risk Assessment
➢ Sales Forecasting
➢ Using customer segmentation to determine which
leads have the best chance of converting
➢ Predictive analytics in customer success teams
Prescriptive Analysis
- is the frontier of data analysis,
combining the insight from all previous
analyses to determine the course of
action to take in a current problem or
decision.
Business applications of prescriptive
analysis include:
➢ Artificial Intelligence (AI) is a perfect example of
prescriptive analytics. Well-designed AI systems are
capable of communicating these decisions and
even putting those decisions into action.
Business applications of prescriptive
analysis include:
Currently, most of the big data-driven
companies (Apple, Facebook, Netflix, etc.)
are utilizing prescriptive analytics and AI to
improve decision making. .
Conclusion
As shown, each of these types of data analysis are
connected and rely on each other to a certain degree.
They each serve a different purpose and provide
varying insights. Moving from descriptive analysis
towards predictive and prescriptive analysis requires
much more technical ability, but also unlocks more
insight for any organization.
 Data can be presented in various forms
depending on the type of data collected.
Data Presentation
Presenting the data includes the pictorial
representation of the data by using graphs, charts,
maps and other methods. These methods help in
adding the visual aspect to data which makes it much
more comfortable and easy to understand. Various
methods of data presentation can be used to present
data and facts.
COMMON TYPES OF DATA PRESENTATION
 1. Textual
• Feature 1
- means presenting
• Feature 2
data in the form of • Feature 3
words, sentences
and paragraphs.
 2. Tabular
FREQUENCY DISTRIBUTION: • Feature 1
A frequency • Feature 2
distribution is a table • Feature 3
showing how often each
value (or set of values) of
the variable in question
occurs in a data set.
GRAPHICAL METHODS:

Frequency distributions
are usually illustrated
graphically by plotting
various types of
graphs/charts.
 Types of Graphical Presentation
Area Chart • Feature 1
It is one of the • Feature 2
most popular charts • Feature 3
which is used to show
continuity across a data
set or variable.
 Types of Graphical Presentation
Correlogram • Feature 1
It is mostly used • Feature 2
for testing the level of • Feature 3
correlation between
the given variable of a
particular data set.
 Types of Graphical Presentation
Scatter Plot • Feature 1
- is most commonly • Feature 2
used for establishing • Feature 3
the relationship
between two or more
than two variables.
 Types of Graphical Presentation
Stacked Bar Chart • Feature 1
- is also a type of • Feature 2
bar chart which is • Feature 3
used by combining
several categorical
variables.
 Types of Graphical Presentation
Heat Map • Feature 1
- is used to find the • Feature 2
relationship between • Feature 3
two or more variables
by using different
shades of color.
 Types of Graphical Presentation
Bar Chart • Feature 1
is used to indicate and compare values
• Feature 2
in a discrete category or group, and the
frequency or other measurement • Feature 3
parameters (i.e. mean). Depending on
the number of categories, and the size or
complexity of each category, bars may be
created vertically or horizontally.
 Types of Graphical Presentation
Line Chart
- These are best for
showing the change
in population, i.e., for
showing the trends.
 Types of Graphical Presentation
Pie Charts
• Feature 1
- These work best for representing
the share of different components from • Feature 2
a total 100%. For, eg. contribution of • Feature 3
different sectors to GDP, the population
of different states in a country, salary
distribution by category, etc.
 Types of Graphical Presentation
Combo Chart • Feature 1
• Feature 2
- it is a
• Feature 3
combination of
more than one chart
type
Conclusion:
Text, tables, and graphs are
effective communication media that
present and convey data and
information. They aid readers in
understanding the content of
research, sustain their interest, and
effectively present large quantities
of complex information.
Conclusion:
Discovery and communication are
the two objectives of data
visualization. In the discovery phase,
various types of graphs must be tried
to understand the rough and overall
information the data are conveying.
The communication phase is focused
on presenting the discovered
information in a summarized form.
Resources:
• Journal of Accountancy – The next frontier in data
analytics
• ScienceSoft – 4 Types of Data Analytics to Improve
Decision-Making
• Ingram Micro – Four Types of Big Data Analytics and
Examples of Their Use
Resources:
• https://chartio.com/learn/data-analytics/types-of-data-analysis/
• https://planningtank.com/planning-techniques/data-presentation-and-
analysis
• http://www.qihub.scot.nhs.uk/media/530244/data%20presentation%20ty
pes.pdf
• http://academic.sun.ac.za/emergencymedicine/TRRM/module5/BS1-
3.htm
• https://planningtank.com/planning-techniques/data-presentation-and-
analysis
• https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5453888/