Process of Data Analysis
1. Business Understanding
Whenever any requirement occurs, firstly we need to determine the business objective, assess the situation, determine data mining goals and then produce the project plan as per the requirement. Business objectives are defined in this phase.
2. Data Exploration
For the further process, we need to gather initial data, describe and explore data and lastly verify data quality to ensure it contains the data we require. Data collected from the various sources is described in terms of its application and the need for the project in this phase. This is also known as data exploration. This is necessary to verify the quality of data collected.
Here, we evaluate the results from the last step, review the scope of error, and determine the next steps to perform. We evaluate the results of the test cases and review the scope of errors in this phase.
We need to plan the deployment, monitoring and maintenance and produce a final report and review the project. In this phase, we deploy the results of the analysis. This is also known as reviewing the project.
The complete process is known as business analytics process.
Data Science and Data Analytics are two most trending terminologies of today’s time. Presently, data is more than oil to the industries. Data is collected into raw form and processed according to the requirement of a company and then this data is utilized for the decision making purpose. This process helps the businesses to grow & expand their operations in the market.
Data or information is in raw format. The increase in size of the data has lead to a rise in need for carrying out inspection, data cleaning, transformation as well as data modeling to gain insights from the data in order to derive conclusions for better decision making process. This process is known as data analysis.
From the data collected in the last step, we need to select data as per the need, clean it, construct it to get useful information and then integrate it all. Finally, we need to format the data to get the appropriate data. Data is selected, cleaned, and integrated into the format finalized for the analysis in this phase.
4. Data Modeling
After gathering the data, we perform data modeling on it. For this, we need to select a modeling technique, generate test design, build a model and assess the model built. The data model is build to analyze relationships between various selected objects in the data. Test cases are built for assessing the model and model is tested and implemented on the data in this phase.