Data Analytics-Methods-Tools-And-Techniques

Topics Data Analytics
Methods Used in Data Analysis
Data Analysis Process
Data Analysis Techniques
Data Analysis Tools

Data Analysis
End
Methods, Tools
and
Techniques
METHODS USED IN DATA ANALYSIS
Main Methods
1. Quantitative Analysis
2. Qualitative Analysis
What is Quantitative Analysis ?

• This analysis is measured in terms of numbers.
• The data here present themselves in terms of measurement
scales and extend themselves for more statistical
manipulation.
What is Qualitative Analysis ?
• This approach mainly answers questions such as ‘why,’
‘what’ or ‘how.’
• Each of these questions is addressed via quantitative
techniques such as questionnaires, attitude scaling,
standard outcomes, and more.
• Such kind of analysis is usually in the form of texts and
narratives, which might also include audio and video
representations.
Other Methods:
• Text analysis
• Statistical analysis
• Diagnostic analysis
• Predictive analysis
• Prescriptive Analysis
Text analysis
• Text analysis is a technique to analyse texts to extract
machine-readable facts.
• It aims to create structured data out of free and unstructured
content.
• The process consists of slicing and dicing heaps of
unstructured, heterogeneous files into easy-to-read,
manage and interpret data pieces.
• It is also known as text mining, text analytics, and
information extraction.
Problem with Text Analysis

• The ambiguity of human languages is the biggest challenge
of text analysis.
Statistical analysis
• Statistics involves data collection, interpretation, and
validation.
• Statistical analysis is the technique of performing several
statistical operations to quantify the data and apply
statistical analysis.
• Quantitative data involves descriptive data like surveys and
observational data.
• It is also called a descriptive analysis.
Tools :
• SAS (Statistical Analysis System)
• SPSS (Statistical Package for the Social Sciences)
• Stat soft
Diagnostic Analysis
• The diagnostic analysis is a step further to statistical
analysis to provide more in-depth analysis to answer the
questions.
• It is also referred to as root cause analysis as it includes
processes like data discovery, mining and drill down and
drill through.
Three Functions of Diagnostics Analysis

1. Identify anomalies
2. Drill into the Analytics (discovery)
3. Determine Causal Relationships
Predictive analysis
• Predictive analysis uses historical data and feds it into the
machine learning model to find critical patterns and trends.
• The model is applied to the current data to predict what
would happen next.
• Advantages: volume and type of data, faster and cheaper
computers, easy-to-use software, tighter economic
conditions, and a need for competitive differentiation.
Common Uses of Predictive Analysis:

• Fraud Detection
• Optimizing Marketing Campaigns
• Improving Operations
• Reducing Risks
Prescriptive Analysis
• Prescriptive analytics suggests various courses of action
and outlines what the potential implications could be
reached after predictive analysis.
• Prescriptive analysis generating automated decisions or
recommendations requires specific and unique algorithmic
and clear direction from those utilizing the analytical
techniques.
THE DATA ANALYSIS PROCESS
Steps:
1. Data Requirement Specification
2. Data Collection
3. Data Processing
4. Data Analysis
5. Infer and Interpret Results
Data Requirement Specification
• Define your scope:
• Define short and straightforward questions
• Define measurement parameters
• Define which parameter
• Define your unit of measurement - Time, Currency,
Salary, and more.
Data Collection
• Gather your data based on your measurement
parameters.
• Collect data from databases, websites, and many other
sources.
• Data may not be structured or uniform
Data Processing
• Organize your data.
• Cross-check data with reliable sources.
• Convert the data as per the scale of measurement
• Exclude irrelevant data.
Data Analysis
• Perform sorting, plotting, and identifying correlations.
• Review previous steps when necessary.
 modify question
 redefine parameters
 reorganize your data.
• Make use of the different tools available for data
analysis.
Terminologies related to Data Analysis

1. Data Mining – process that involves methods in finding
patterns in the data sample.
2. Data Modelling - refers to how an organization
organizes and manages its data.
Infer and Interpret Results
• Review if the result answers your initial questions
• Review if you have considered all parameters for making
the decision.
• Review if there is any hindering factor for implementing the
decision.
• Choose data visualization techniques to communicate the
message better.
• These visualization techniques may be charts, graphs, color
coding, and more.
DATA ANALYSIS TOOLS
Some of the Tools that can be used for data Analysis:
• Excel
• Tableau
• Power BI
• Fine Report
• R & Python
• SAS
• RapidMiner
• WEKA
DATA ANALYSIS TOOLS
Excel
• It has a variety of compelling features, and with additional
plugins installed, it can handle a massive amount of data.
So, if you have data that does not come near the significant
data margin, then Excel can be a very versatile tool for data
analysis.
Tableau
• It falls under the BI Tool category, made for the sole purpose
of data analysis. The essence of Tableau is the Pivot Table
and Pivot Chart and works towards representing data in the
most user-friendly way. It additionally has a data cleaning
feature along with brilliant analytical functions.
DATA ANALYSIS TOOLS
Power BI
• It initially started as a plugin for Excel, but later on, detached
from it to develop in one of the most data analytics tools. It
comes in three versions: Free, Pro, and Premium. Its
PowerPivot and DAX language can implement sophisticated
advanced analytics similar to writing Excel formulas.
Fine Report
• Fine Report comes with a straightforward drag and drops
operation, which helps to design various styles of reports
and build a data decision analysis system. It can directly
connect to all kinds of databases, and its format is similar to
that of Excel. Additionally, it also provides a variety of
dashboard templates and several self-developed visual
plug-in libraries.
DATA ANALYSIS TOOLS
R & Python
• These are programming languages which are very powerful
and flexible. R is best at statistical analysis, such as normal
distribution, cluster classification algorithms, and regression
analysis. It also performs individual predictive analysis like
customer behavior, his spend, items preferred by him based
on his browsing history, and more. It also involves concepts of
machine learning and artificial intelligence.
SAS
• It is a programming language for data analytics and data
manipulation, which can easily access data from any source.
SAS has introduced a broad set of customer profiling products
for web, social media, and marketing analytics. It can predict
their behaviors, manage, and optimize communications.

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Topics Data Analytics

Methods Used in Data Analysis

Data Analysis Process

Data Analysis Techniques

Data Analysis Tools

What is Quantitative Analysis ?

Problem with Text Analysis

Three Functions of Diagnostics Analysis

Common Uses of Predictive Analysis:

Terminologies related to Data Analysis

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