Data analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and. A career as a data analyst will suit you if you're highly analytical, have strong mathematical skills and are curious and inquisitive. Data analysts are in high. Data Analysis is the process of systematically applying statistical and/or logical techniques to describe and illustrate, condense and recap, and evaluate data.
Gain data analysis skills that you can directly apply in your role and organisation, and develop an understanding of how data-driven models can improve your ability to make smarter, more impactful decisions in a fast-paced and uncertain world Learn to assess the reliability of data, extract strategic business insights, and use modelling to predict future trends Develop data visualisation skills with which to clearly communicate your findings to all stakeholders Complete a capstone project to demonstrate your ability to apply your learning and leverage data for insights to inform business strategy and gain a competitive advantage.
Orientation Module Module 1: Decision-making under uncertainty Module 2: Data visualisation and descriptive statistics Module 3: Quantifying risk through probability Module 4: Data integrity and statistical inference Module 5: Evidence-based decisions Module 6: Understanding the causes of things Module 7: Time series forecasting Module 8: For example, whether a number is rising or falling may not be the key factor.
More important may be the number relative to another number, such as the size of government revenue or spending relative to the size of the economy GDP or the amount of cost relative to revenue in corporate financial statements. This numerical technique is referred to as normalization  or common-sizing. There are many such techniques employed by analysts, whether adjusting for inflation i. Analysts apply a variety of techniques to address the various quantitative messages described in the section above.
Analysts may also analyze data under different assumptions or scenarios. For example, when analysts perform financial statement analysis , they will often recast the financial statements under different assumptions to help arrive at an estimate of future cash flow, which they then discount to present value based on some interest rate, to determine the valuation of the company or its stock.
Similarly, the CBO analyzes the effects of various policy options on the government's revenue, outlays and deficits, creating alternative future scenarios for key measures. A data analytics approach can be used in order to predict energy consumption in buildings. Analytics is the "extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions. In education , most educators have access to a data system for the purpose of analyzing student data.
This section contains rather technical explanations that may assist practitioners but are beyond the typical scope of a Wikipedia article. The most important distinction between the initial data analysis phase and the main analysis phase, is that during initial data analysis one refrains from any analysis that is aimed at answering the original research question. The initial data analysis phase is guided by the following four questions: The quality of the data should be checked as early as possible.
Data quality can be assessed in several ways, using different types of analysis: The choice of analyses to assess the data quality during the initial data analysis phase depends on the analyses that will be conducted in the main analysis phase. The quality of the measurement instruments should only be checked during the initial data analysis phase when this is not the focus or research question of the study.
One should check whether structure of measurement instruments corresponds to structure reported in the literature. After assessing the quality of the data and of the measurements, one might decide to impute missing data, or to perform initial transformations of one or more variables, although this can also be done during the main analysis phase.
One should check the success of the randomization procedure, for instance by checking whether background and substantive variables are equally distributed within and across groups. If the study did not need or use a randomization procedure, one should check the success of the non-random sampling, for instance by checking whether all subgroups of the population of interest are represented in sample.
Other possible data distortions that should be checked are:. In any report or article, the structure of the sample must be accurately described. It is especially important to exactly determine the structure of the sample and specifically the size of the subgroups when subgroup analyses will be performed during the main analysis phase. The characteristics of the data sample can be assessed by looking at:.
During the final stage, the findings of the initial data analysis are documented, and necessary, preferable, and possible corrective actions are taken.
Also, the original plan for the main data analyses can and should be specified in more detail or rewritten. In order to do this, several decisions about the main data analyses can and should be made:.
Several analyses can be used during the initial data analysis phase: It is important to take the measurement levels of the variables into account for the analyses, as special statistical techniques are available for each level: Nonlinear analysis will be necessary when the data is recorded from a nonlinear system. Nonlinear systems can exhibit complex dynamic effects including bifurcations , chaos , harmonics and subharmonics that cannot be analyzed using simple linear methods.
Nonlinear data analysis is closely related to nonlinear system identification. In the main analysis phase analyses aimed at answering the research question are performed as well as any other relevant analysis needed to write the first draft of the research report. In the main analysis phase either an exploratory or confirmatory approach can be adopted.
Usually the approach is decided before data is collected. In an exploratory analysis no clear hypothesis is stated before analysing the data, and the data is searched for models that describe the data well. In a confirmatory analysis clear hypotheses about the data are tested. Exploratory data analysis should be interpreted carefully.
When testing multiple models at once there is a high chance on finding at least one of them to be significant, but this can be due to a type 1 error.
It is important to always adjust the significance level when testing multiple models with, for example, a Bonferroni correction. Also, one should not follow up an exploratory analysis with a confirmatory analysis in the same dataset.
An exploratory analysis is used to find ideas for a theory, but not to test that theory as well. When a model is found exploratory in a dataset, then following up that analysis with a confirmatory analysis in the same dataset could simply mean that the results of the confirmatory analysis are due to the same type 1 error that resulted in the exploratory model in the first place. The confirmatory analysis therefore will not be more informative than the original exploratory analysis.
It is important to obtain some indication about how generalizable the results are. Are the results reliable and reproducible? There are two main ways of doing this:. Many statistical methods have been used for statistical analyses. A very brief list of four of the more popular methods is:. Different companies or organizations hold a data analysis contests to encourage researchers utilize their data or to solve a particular question using data analysis.
A few examples of well-known international data analysis contests are as follows. From Wikipedia, the free encyclopedia. Part of a series on Statistics Data visualization Major dimensions. You are entitled to your own opinion, but you are not entitled to your own facts. Getting a job CVs and cover letters Applying for jobs Interview tips Open days and events Applying for university Choosing a course Getting into university Student loans and finance University life Changing or leaving your course Alternatives to university Post a job.
View all information technology vacancies. A career as a data analyst will suit you if you're highly analytical, have strong mathematical skills and are curious and inquisitive Data analysts are in high demand across all sectors, such as finance, consulting, manufacturing, pharmaceuticals, government and education. Types of data analyst You can work across a broad range of areas, including: Responsibilities As a data analyst, you'll need to: Income figures intended as a guide only. Working hours Working hours are usually 9am to 5pm, Monday to Friday.
What to expect Roles are normally office based, although consulting roles may involve travel. Data analysts work for all types of employers, so dress code and office culture will vary depending on the company you work for.
You'll be working with complex systems, requiring a high level of concentration and attention to detail. You'll need excellent communication skills in order to interpret client requirements and present data in a clear and compelling way.
Qualifications A first degree is often, but not always, required. A degree in a relevant discipline may help, such as: You can also learn a lot of desirable data analysis skills through short courses offered at universities and specialist data schools, such as: MS Access knowledge of data modelling, data cleansing, and data enrichment techniques Hadoop open-source data analytics Google Analytics, SEO, keyword analysis and web analytics aptitude, for marketing analyst roles the capacity to develop and document procedures and workflows the ability to carry out data quality control, validation and linkage an understanding of data protection issues for some roles, an awareness and knowledge of industry-specific databases and data sets particularly in higher education experience of statistical methodologies and data analysis techniques the ability to produce clear graphical representations and data visualisations.
Depending on your exact role, you're likely to need skills in some of the following programmes: Work experience Entry-level roles are available at companies across all sectors. Employers Data analysts can work in large companies, such as the 'big four' consultancies or financial services firms, or consumer retail firms, small and medium-sized businesses such as marketing agencies or the public sector. Employers of data analysts include the following: Look for job vacancies at: Aspire Harnham Opilio Recruitment Resources Group Professional development Professional certifications aren't usually needed, but may be offered as professional development.
Career prospects With experience, you could progress into a management role in short space of time. Promote job vacancies, courses or events.
Definition of data analysis: The process of evaluating data using analytical and logical reasoning to examine each component of the data provided. This form of. Free data analysis courses online. Learn data analytics tools and methods and advance your career with free courses from top universities. Join now. The process of Inspecting, cleaning, transforming, modeling data with the objective of discovering useful 11motors-club.info and process for data analysis.