Data analysis deals with collecting, inspecting, cleaning, transforming and modeling data to glean valuable insights and support better decision making in an organization. The various steps involved in the data analysis process include
Data Exploration
Having identified the business problem, a data analyst has to go through the data provided by the client to analyse the root cause of the problem.
Data Preparation
This is the most crucial step of the data analysis process wherein any data anomalies (like missing values or detecting outliers) with the data have to be modelled in the right direction.
Data Modelling
The modelling step begins once the data has been prepared. Modelling is an iterative process wherein the model is run repeatedly for improvements. Data modelling ensures that the best possible result is found for a given business problem.
Validation
In this step, the model provided by the client and the model developed by the data analyst are validated against each other to find out if the developed model will meet the business requirements.
Implementation of the Model and Tracking
This is the final step of the data analysis process wherein the model is implemented in production and is tested for accuracy and efficiency.
