What is Data Analysis?

Data analysis is the method in which data is collected and organized to make purposeful discoveries, evaluate data, and draw reasonable conclusions. It is a multifaceted process that is integral to understanding various aspects of data, allowing for the support of decision-making, suggesting conclusions, and even supporting or debunking previous studies. Through data analysis, one can find patterns, insights, and make informed decisions based on the data at hand.

There are many types of data analysis, each serving a distinct purpose. These include statistical, qualitative, and quantitative analyses. Specifically, there are four key types of data analysis: descriptive, diagnostic, predictive, and prescriptive. Descriptive analysis serves as the foundation of all data insight, while diagnostic analysis identifies the causes of outcomes observed in the descriptive phase. Predictive analysis, on the other hand, focuses on forecasting future outcomes based on historical data, and prescriptive analysis synthesizes insights from all forms of analysis to determine the best course of action.

Frequently Asked Questions

How do I create a pivot table using the coronavirus dataset?

Drag 'sales' into values and place 'continent' and 'country' columns into rows.

How can I filter the pivot table to show only the top 3 items?

Select 'Top 3' in the filter options.

What steps do I follow to add a calculated column in a pivot table?

Go to the PivotTable Analyze tab, select 'Fields, Items & Sets', click 'Calculate Field', then add a name and formula.

How do I find the percentage contribution of each country to the total coronavirus cases?

Create a pivot table and use the 'Show Value As' option to select '% of Grand Total'.

What is the process to create a pivot chart in Excel?

First create a pivot table, then go to the Insert tab and select the 'Pivot Chart' option.