Data analysis is a primary component of data mining and Business Intelligence (BI) and is key to gaining the insight that drives business decisions. Organizations and enterprises analyze data from a multitude of sources using Big Data management solutions and customer experience management solutions that utilize data analysis to transform data into actionable insights.
data analysis is “all the ways you can break down the data, assess trends over time, and compare one sector or measurement to another. It can also include the various ways the data is visualized to make the trends and relationships intuitive at a glance.” Data analysis involves asking questions about what happened, what is happening, and what will happen (predictive analytics). As Junk puts it, “analytics is generally the data crunching, question-answering phase leading up to the decision-making phase in the overall Business Intelligence process.