The Data Analysis Process
The process of analyzing data follows a due process. This gives us a sense of direction as it helps us outline what we want from our data and how to get it.
Data is a single fact that is recorded and collected through observations(by either machines or humans). Data Analysis is the process of finding, collecting, and transforming data in order to gain insights to make business decisions. The Data Analysis process is as follows:
ASK/DEFINE: This is the very first and most important step of data analysis. In this phase, you define the business problems to be solved and understand the stakeholders' expectations, because we are not carrying this analysis for ourselves. A business question that reflects the concerns and problems that an organization would like to tackle serves as the starting point for the data analysis process. In the Ask phase:
- What are the problems we're trying to solve?
- What is the purpose of this analysis?
- Who is receiving the analysis? is it the HR department, Marketing officer, or the major stakeholders?
- How can this analysis be of value to the business? Would it help us improve processes, increase revenue, reduce cost or optimize processes?
The Ask phase of the data analysis process sets the tone or direction in which the data analysis would take, as it determines what data would be used or processes that would be involved.
To be continued...