All of the above are varieties of data analysis. Predictive analytics focuses on the application of statistical models for predictive forecasting or classification, while text analytics applies statistical, linguistic, and structural techniques to extract and classify information from textual sources, a species of unstructured data. EDA focuses on discovering new features in the data while CDA focuses on confirming or falsifying existing hypotheses. In statistical applications, data analysis can be divided into descriptive statistics, exploratory data analysis (EDA), and confirmatory data analysis (CDA). ĭata mining is a particular data analysis technique that focuses on statistical modelling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. In today's business world, data analysis plays a role in making decisions more scientific and helping businesses operate more effectively. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science, and social science domains. cleansing, generic data-sets and modelling Part of a series on Statisticsĭata analysis is a process of inspecting, cleansing, transforming, and modelling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. Machine Learning Data analysis process inspection.
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