Data analysis is a process of searching for information that could be used to predict, understand, or support the courses of action that companies take.

Taking information as it is, studying it to draw a conclusion, using it as a basis for decision-making in the business world are part of the science of analysis of data. Data analysis is a technique under data analysis and is divided into several general parts, namely: confirmatory data analysis (CDA), qualitative data analysis (QDA) and exploratory data analysis.

CDA also known as statistical hypothesis test It is used to arrive at decisions based on the results of the experiments. It tests a current statistic or theory and makes it significant or insignificant.

EDA contrasts with CDA. His approach is descriptive, without prejudice. Unlike confirmatory data analysis, exploratory data analysis derives a theory or hypotheses based on what is found in the research. The questions that need to be answered generally arise from the collected data, unlike CDA, where there is already a set of questions that need specific answers.

QDA is the process of analyzing data from different angles, aspects, approaches, or perspectives. For example, two people may be looking at the same thing but having totally different thoughts about it. This concept applies to QDA. How the data will be interpreted will depend on the purpose. Qualitative data analysis focuses on information that cannot be contained in numbers, but on what can be deduced from images, videos, people watching, behaviors, etc.

That said, some might confuse data analysis with data mining, when the two are quite different. As data analysis focuses on what is already known and seen, data mining digs deep to find other patterns and connections that have yet to be discovered.

Several companies are investing in data analytics because it has already proven its need in the world of commerce. It doesn’t matter whether it’s buying or selling goods or services, the business world is intertwined with data analytics.

Simply put, data analysis is a systematic way of understanding available information and using it to promote business projects. It helps companies decide what the next step would be and whether or not that step would move them forward. It has come a long way in the years that have passed and thanks to technology; data analysis is faster and more efficient. With the use of computers and other types of modern equipment, more can be accomplished in less time.