Data Analysis Process: A Quick Guide

Intro

A lot of data experts find it hard to perform data analysis. Yes, doing DA is not that easy, but it is also not that complex. If you know what you are doing and follow the correct steps then you can easily do it without any problem. Keeping this in mind, today we are sharing with you a quick guide about doing data analysis.

Here’s how you can perform data analysis for your organization.

Define Your Goals

Before starting analysis you must define your objective. You must know what you want to achieve through analysis before doing anything else. For instance, you might want to know why there is a sudden rise in demand for a particular product. Why you must clearly define your goal? Because it is the foundation of the entire DA process. Moreover, it will help you discover the type of data you need to collect to achieve that objective. For defining goals, you can take reference of your monthly business reports to identify problems that must be addressed quickly. So, ensure you clearly define your analysis goals before moving forward with the analysis process. To learn how to easily identify hidden business problems with the help of business reports feel free to join our Data Analysis Online Training.

Set Parameters for Measuring Progress

Once you are done defining your goals the next thing you must do is define parameters to measure progress. Why? Because if you don’t set indicators you can’t measure your progress. Thus, you must set indicators to track and measure your progress. For instance, if you want to track the performance of your support team, you can track metrics like response time, ticket volume, etc. So, once you are done defining your goal make sure you set parameters for measuring progress. This will help you a lot in the data analysis process.

Collect Data

After clearly defining your goal and setting KPIs you need to collect data for analysis. However, before that you have to create a clear strategy to collect data. Why? Because depending on your goal you may have to collect data from different sources. Besides this, you may have to track certain KPIs for doing DA. Thus, if you create a clear data collection strategy then it will make it very easy for the data collecting team to do its work. So, make sure you create a clear data collection strategy if you want to perform DA without any difficulty or problem.

Clean Data

All the data you collect for analysis may not be worth your time. Thus you must clean it to get access to the data that you require to perform data analysis. For instance, you will have to remove major errors and duplicate data from the dataset. Besides this, you have to check the relevancy of the data and fill in any gaps that might be present in the data. Once, you are done cleaning your data you can easily perform data analysis for achieving your set goals. For this, you can take the help of tools like OpenRefine, Trifacta, Informatica, etc. With the help of these data cleaning tools, you can easily clean your data in a short time.

Analyze Your Data

After cleaning your data the next thing you have to do is analyze your data. There are tons of tools over the internet that you can use for analyzing data. For instance, you can take the help of tools such as Google Sheets, Tableau, Airtable, etc. These tools are some of the best tools in the market when it comes to analyzing data. Moreover, they allow users to easily create comprehensive visualizations with the help of charts/graphs. These tools can help you perform DA in a very short time. So, once you are done cleaning your data you can use any of these tools for analyzing it.

Present Results

After analyzing the data the final thing that you have to do is share your results with management. You must create powerful visualizations to present your insights. Why? Because visualizations will make it very easy for you to present your data results. Besides this, the management will also be able to better understand the results of your analysis through visualizations. So, do use visualizations if you want to effectively communicate your analysis results to management. For this, you can take the help of tools like Tableau, MonkeyLearn Studio, Google Data Studio, etc. These tools are fabulous and can help you create robust visualizations in just a few clicks. To learn how to use Google Data Studio for creating visualizations feel free to join our Data Analysis Training in Delhi.

Conclusion

Performing data analysis is not a complex process. If you know what you are doing and have a solid game plan then you can easily do it. So, carefully follow this guide if you want to perform DA for your organization. If you do this then you will be able to easily