Exploring Data Analysis and Key Analysis Techniques
This chapter covers Objective 3.3 (Summarize types of analysis and key analysis techniques) of the CompTIA Data+ exam and includes the following topics:
Process to determine type of analysis
Type of analysis
For more information on the official CompTIA Data+ exam topics, see the Introduction.
This chapter covers topics related to data analysis techniques. It is important to explore the processes used to determine the appropriate type of analysis. This chapter also focuses on reviewing and refining business questions, determining data needs and sources to perform analysis, and scoping/gap analysis. It covers the key aspects of types of analysis, including trend analysis (comparing data over time), performance analysis (tracking measurements against defined goals), exploratory data analysis (basic projections for achieving goals), use of descriptive statistics in determining observations, and link analysis (connections of pathway or data points).
PROCESS TO DETERMINE TYPE OF ANALYSIS
Data analysis plays an important role in running a successful business. When data is adopted efficiently, it helps an organization understand its previous performance and make good decisions for future needs. Analysis of data is a process of transforming, cleaning, and modeling data in order to discover the information needed to make better decisions related to the business.
For example, when you want to make a decision in your daily life, you would probably base your decision on what occurred during a past time. You would analyze your past decisions and the outcomes of those decisions, and based on that information, you would make a decision now and in future, expecting a favorable outcome. For example, when buying a loaf of bread, if your experience with a brand has been positive, you would likely prefer that brand over other brands. Likewise, data analysts perform data analysis to help in making business decisions that lead to growth and expansion of the business through acquiring more customers or expanding the service/product footprint.