The analysis method typically moves through several iterative phases. Data analysis processĪs the data available to companies continues to grow both in amount and complexity, so too does the need for an effective and efficient process by which to harness the value of that data. The World Economic Forum Future of Jobs Report 2020 listed data analysts and scientists as the top emerging job, followed immediately by AI and machine learning specialists, and big data specialists. Data analysis can help a bank to personalize customer interactions, a health care system to predict future health needs, or an entertainment company to create the next big streaming hit. And we’re living in a time when we have more data than ever at our fingertips.Ĭompanies are wisening up to the benefits of leveraging data. When we can extract meaning from data, it empowers us to make better decisions. This idea lies at the root of data analysis. Insensibly one begins to twist facts to suit theories, instead of theories to suit facts," Sherlock Holme's proclaims in Sir Arthur Conan Doyle's A Scandal in Bohemia. "It is a capital mistake to theorize before one has data.
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