“Data analytics (DA) is the process of examining data sets in order to draw conclusions about the information they contain, increasingly with the aid of specialized systems and software. Data analytics technologies and techniques are widely used in commercial industries to enable organizations to make more informed business decisions and by scientists and researchers to verify or disprove scientific models, theories and hypotheses.”
Types of Data Analysis:
Qualitative Analysis
Data is not described through numerical values
Described by some sort of descriptive context such as text
Data can be gathered by many methods such as interviews, videos and audio recordings, field notes
Data needs to be interpreted
The grouping of data into identifiable themes.
Qualitative analysis can be summarized by three basic principles :
Notice things
Collect things
Think about things
Quantitative Analysis
Quantitative analysis refers to the process by which numerical data is analyzed
Involves descriptive statistics such as mean, media, standard deviation
The following are often involved with quantitative analysis:
Statistical models
Analysis of variables
Data dispersion
Analysis of relationships between variables
Contingence and correlation
Regression analysis
Statistical significance
Precision
Error limits
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