Define Data Presentation

Data presentation is defined as the process of using various graphical

formats to visually represent the relationship between two or more data
sets so that an informed decision can be made based on them.

Types of Data Presentation

Broadly speaking, there are three methods of data presentation:

 Textual
 Tabular
 Diagrammatic

Textual Ways of Presenting Data

Out of the different methods of data presentation, this is the most simple
one. You just write your findings in a coherent manner and your job is
done. The demerit of this method is that one has to read the whole text to
get a clear picture. Yes, introduction, summary and conclusion can help
condense the information.

Tabular Ways of Data Presentation and Analysis

To avoid the complexities involved in the textual way of data presentation,
people use tables and charts to present data. In this method, data is
presented in rows and columns - just like you see in a cricket match
showing who made how many runs. Each row and column has an
attribute (name, year, sex, age and other things like these). It is against
these attributes that data is written within a cell.

Diagrammatic Presentation: Graphical Presentation of Data In

Statistics
This kind of data presentation and analysis method says a lot with
dramatically short amounts of time.

Diagrammatic Presentation has been divided into further categories:

Geometric Diagram
When a Diagrammatic presentation involves shapes like a bar or circle, we
call that a Geometric Diagram. Examples of Geometric Diagram

Bar Diagram
Simple Bar Diagram
Simple Bar Diagram is composed of rectangular bars. All of these bars
have the same width and they are placed at an equal distance from each
other. The bars are placed on the X-axis. The height or length of the bars is
used as the means of measurement. So on the Y-axis, you have the
measurement relevant to the data.

Suppose, you want to present the run scored by each batsman in a game
in the form of a bar chart. Mark the runs on the Y-axis - in ascending order
from the bottom. So the lowest scorer will be represented in the form of
the smallest bar and highest scorer in the form of the longest bar.

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Multiple Bar Diagram

In many states of India, electric bills have bar diagrams showing the
consumption in the last 5 months. Along with these bars, they also have
bars that show the consumption happened in the same months of the
previous year. This kind of Bar Diagram is called Multiple Bar Diagrams.

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Component Bar Diagram
Sometimes, a bar is divided into two or more parts. For example, if there is
a Bar Diagram, the bars of which show the percentage of male voters who
voted and who didn’t and the female voters who voted and who didn’t.
Instead of creating separate bars for who did and who did not, you can
divide one bar into who did and who did not.

Pie Chart
A pie chart is a chart where you divide a pie (a circle) into different parts
based on the data. Each of the data is first transformed into percentage
and then that percentage figure is multiplied by 3.6 degrees. The result
that you get is the angular degree of that corresponding data to be drawn
in the pie chart. So, for example, you get 30 degrees as the result, on the
pie chart you draw that angle from the centre.

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Frequency Diagram
Suppose you want to present data that shows how many students have 1
to 2 pens, how many have 3 to 5 pens, how many have 6 to 10 pens
(grouped frequency) you do that with the help of a Frequency Diagram. A
Frequency Diagram can be of many kinds:

Histogram
Where the grouped frequency of pens (from the above example) is written
on the X-axis and the numbers of students are marked on the Y-axis. The
data is presented in the form of bars.

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Frequency Polygon
When you join the midpoints of the upper side of the rectangles in a
histogram, you get a Frequency Polygon

Frequency Curve
When you draw a freehand line that passes through the points of the
Frequency Polygon, you get a Frequency Curve.

Ogive
Suppose 2 students got 0-20 marks in maths, 5 students got 20-30 marks
and 4 students got 30-50 marks in Maths. So how many students got less
than 50 marks? Yes, 5+2=7. And how many students got more than 20
marks? 5+4=9. This type of more than and less than data are represented
in the form of the ogive. The meeting point of the less than and more than
line will give you the Median.

Arithmetic Line Graph

If you want to see the trend of Corona infection vs the number of
recoveries from January 2020 to December 2020, you can do that in the
form of Arithmetic Line Graph. The months should be marked on the X-
axis and the number of infections and recoveries are marked on the Y-
axis. You can compare if the recovery is greater than the infection and if
the recovery and infection are going at the same rate or not with the help
of this Diagram.

Did You Know?

Sir Ronald Aylmer Fisher is known as the father of modern statistics.

FAQ (Frequently Asked Questions)

1. What are the 4 Types of Tabular Presentation?
Tabular presentation method can be further divided into 4 categories:
 Qualitative
 Quantitative
 Temporal
 Spatial
Qualitative classification is done when the attributes in the table are some
kind of ‘quality’ or feature. Suppose you want to make a table where you
would show how many batsmen made half-centuries and how many
batsmen made centuries in IPL 2020. Notice that the data would have only
numbers - no age, sex, height is needed. This type of tabulation is called
quantitative tabulation.

If you want to make a table that would inform in which year’s world cup,
which team won. The classifying variable, here, is year or time. This kind of
classification is called Temporal classification.

If you want to list the top 5 coldest places in the world. The classifying
variable here would be a place in each case. Such kind of classification is
called Spatial Classification.
2. Are Bar Charts and Histograms the Same?
No, they are not the same. With a histogram, you measure the frequency of
quantitative data. With bar charts, you compare categorical data.

What Is Data Analysis?

Data analysis is the process of collecting, modeling, and analyzing data to extract insights
that support decision-making. There are several methods and techniques to perform
analysis depending on the industry and the aim of the analysis.
All these various methods for data analysis are largely based on two core areas: quantitative
methods and qualitative methods in research.
To explain the key differences between qualitative and quantitative data, here’s a video for
your viewing pleasure:
Gaining a better understanding of different techniques for data analysis, and methods in
quantitative research as well as qualitative insights will give your information analyzing
efforts a more clearly defined direction, so it’s worth taking the time to allow this particular
knowledge to sink in. Additionally, you will be able to create a comprehensive analytical
report that will skyrocket your analysis processes.
Why Is Data Analysis Important?
Before we go into detail about the categories of data analysis along with its methods and
techniques, you must understand the potential that analyzing data can bring to your
organization.
Let’s start with customers, arguably the most crucial element in any business. By using data
analysis to get a 360° vision of all aspects related to your customers, you can understand
which channels they use to communicate with you, their demographics, interests, habits,
purchasing behaviors, and more.
In the long run, it will drive success to your marketing strategies, allow you to identify new
potential customers, and avoid wasting resources on targeting the wrong people or sending
the wrong message. You can also track customer satisfaction by analyzing your client’s
reviews or your customer service department’s performance.
From a management perspective, you can also benefit from analyzing your data as it helps
you make business decisions based on facts and not simple intuition. For example, you can
understand where to invest your capital, detect growth opportunities, predict your incomes,
or tackle uncommon situations before they become problems.
Like this, you can extract relevant information from all areas in your organization, and with
the help of a dashboard software, present the data in a professional and interactive way to
different stakeholders.

7 Essential Types Of Data Analysis Methods

Before diving into the seven essential types of data analysis methods, it is important that we
go over really fast through the main analysis categories. Starting with the category of
descriptive analysis up to prescriptive analysis, the complexity and effort of data evaluation
increases, but also the added value for the company.
a) Descriptive analysis - What happened.
The descriptive analysis method is the starting point to any analytic process, and it aims to
answer the question of what happened? It does this by ordering, manipulating, and
interpreting raw data from various sources to turn it into valuable insights to your business.
Performing descriptive analysis is essential, as it allows us to present our data in a
meaningful way. Although it is relevant to mention that this analysis on its own will not
allow you to predict future outcomes or tell you the answer to questions like why something
happened, but it will leave your data organized and ready to conduct further analysis.
b) Exploratory analysis - How to explore data relationships.
As its name suggests, the main aim of the exploratory analysis is to explore. Prior to it,
there's still no notion of the relationship between the data and the variables. Once the data
is investigated, the exploratory analysis enables you to find connections and generate
hypotheses and solutions for specific problems. A typical area of application for exploratory
analysis is data mining.
c) Diagnostic analysis - Why it happened.
One of the most powerful types of data analysis. Diagnostic data analytics empowers
analysts and business executives by helping them gain a firm contextual understanding of
why something happened. If you know why something happened as well as how it
happened, you will be able to pinpoint the exact ways of tackling the issue or challenge.
Designed to provide direct and actionable answers to specific questions, this is one of the
world’s most important methods in research, among its other key organizational functions
such as retail analytics, e.g.
c) Predictive analysis - What will happen.
The predictive method allows you to look into the future to answer the question: what will
happen? In order to do this, it uses the results of the previously mentioned descriptive,
exploratory, and diagnostic analysis, in addition to machine learning (ML) and artificial
intelligence (AI). Like this, you can uncover future trends, potential problems or
inefficiencies, connections, and casualties in your data.
With predictive analysis, you can unfold and develop initiatives that will not only enhance
your various operational processes but also help you gain an all-important edge on the
competition. If you understand why a trend, pattern, or event happened through data, you
will be able to develop an informed projection of how things may unfold in particular areas
of the business.
e) Prescriptive analysis - How will it happen.
Another of the most effective types of data analysis methods in research. Prescriptive data
techniques cross over from predictive analysis in the way that it revolves around using
patterns or trends to develop responsive, practical business strategies.
By drilling down into prescriptive analysis, you will play an active role in the data
consumption process by taking well-arranged sets of visual data and using it as a powerful
fix to emerging issues in a number of key business areas, including marketing, sales,
customer experience, HR, fulfillment, finance, logistics analytics, and others.

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Without further ado, here are the seven essential types of data analysis methods among
with some use cases in the business world:

1. Cluster analysis
The action of grouping a set of data elements in a way that said elements are more similar
(in a particular sense) to each other than to those in other groups – hence the term ‘cluster.’
Since there is no target variable when clustering, the method is often used to find hidden
patterns in the data. The approach is also used to provide additional context to a trend or
dataset.
Let's look at it from a business perspective. In a perfect world, marketers would be able to
analyze each customer separately and give them the best-personalized service, but let's face
it, with a large customer base, it is timely impossible to do that. That's where clustering
comes in. By grouping customers into clusters based on demographics, purchasing
behaviors, monetary value, or any other factor that might be relevant for your company,
you will be able to immediately optimize your efforts and give your customers the best
experience based on their needs.

2. Cohort analysis
This type of data analysis method uses historical data to examine and compare a
determined segment of users' behavior, which can then be grouped with others with similar
characteristics. By using this data analysis methodology, it's possible to gain a wealth of
insight into consumer needs or a firm understanding of a broader target group.
Cohort analysis can be really useful to perform analysis in marketing as it will allow you to
understand the impact of your campaigns on specific groups of customers. To exemplify,
imagine you send an email campaign encouraging customers to sign up to your site. For this
you create two versions of the campaign with different designs, CTAs, and ad content. Later
on, you can use cohort analysis to track the performance of the campaign for a longer
period of time and understand which type of content is driving your customers to sign up,
repurchase, or engage in other ways.
A useful tool to start performing cohort analysis method is Google Analytics. You can learn
more about the benefits and limitations of using cohorts in GA in this useful guide. In the
bottom image you see an example of how you visualize a cohort analysis in this tool. The
segments (devices traffic) are divided into date cohorts (usage of devices) and then analyzed
week by week to extract insights into performance.

3. Regression analysis
The regression analysis uses historical data to understand how a dependent variable's value
is affected when one (linear regression) or more independent variables (multiple regression)
change or stay the same. By understanding each variable's relationship and how they
developed in the past, you can anticipate possible outcomes and make better business
decisions in the future.
Let's bring it down with an example. Imagine you did a regression analysis of your sales in
2019 and discovered that variables like product quality, store design, customer service,
marketing campaigns, and sales channels affected the overall result. Now you want to use
regression to analyze which of these variables changed or if any new ones appeared during
2020. For example, you couldn’t sell as much in your physical store due to COVID
lockdowns. Therefore, your sales could’ve either dropped in general or increased in your
online channels. Like this, you can understand which independent variables affected the
overall performance of your dependent variable, annual sales.
If you want to go deeper into this type of analysis, check out this article and learn more
about how you can benefit from regression.

4. Neural networks
The neural network forms the basis for the intelligent algorithms of machine learning. It is a
form of data-driven analytics that attempts, with minimal intervention, to understand how
the human brain would process insights and predict values. Neural networks learn from
each and every data transaction, meaning that they evolve and advance over time.
A typical area of application for neural networks is predictive data analysis. There are BI
reporting tools that have this feature implemented within them, such as the Predictive
Analytics Tool from datapine. This tool enables users to quickly and easily generate all kinds
of predictions. All you have to do is select the data to be processed based on your KPIs, and
the software automatically calculates forecasts based on historical and current data. Thanks
to its user-friendly interface, anyone in your organization can manage it; there’s no need to
be an advanced data scientist.
Here is an example of how you can use the predictive analysis tool from datapine:

**click to enlarge**
5. Factor analysis
The factor analysis, also called “dimension reduction,” is a type of data analysis used to
describe variability among observed, correlated variables in terms of a potentially lower
number of unobserved variables called factors. The aim here is to uncover independent
latent variables, an ideal analysis method for streamlining specific data segments.
A good example to understand this data analysis method is a customer evaluation of a
product. The initial assessment is based on different variables like color, shape, wearability,
current trends, materials, comfort, place where they bought the product, frequency of
usage. Like this, the list can be endless, depending on what you want to track. In this case,
factor analysis comes to the picture by summarizing all of these variables into homogenous
groups, for example, by grouping the variables color, materials, quality, and trends into a
brother latent variable of design.
If you want to start analyzing data using factor analysis we recommend you to take a look at
this practical guide from UCLA.

6. Data mining
A method of analysis that is the umbrella term for engineering metrics and insights for
additional value, direction, and context. By using exploratory statistical evaluation, data
mining aims to identify dependencies, relations, data patterns, and trends to generate and
advanced knowledge. When considering how to analyze data, adopting a data mining
mindset is essential to success - as such, it’s an area that is worth exploring in greater detail.
An excellent example of data mining is datapine intelligent data alerts. With the help of
artificial intelligence and machine learning, they provide automated signals based on
particular commands or occurrences within a dataset. For example, if you’re monitoring
supply chain KPIs, you could set an intelligent alarm to trigger when invalid or low-quality
data appears. By doing so, you will be able to drill down deep into the issue and fix it swiftly
and effectively.
In the following picture you can see an example of how the intelligent alarms from datapine
work. By setting up ranges on daily orders, sessions and revenues, the alarms will notify you
if the goal was not completed or if it exceeded the expectations.
 **click to enlarge**

7. Text analysis
Text analysis, also known in the industry as text mining, is the process of taking large sets of
textual data and arranging it in a way that makes it easier to manage. By working through
this cleansing process in stringent detail, you will be able to extract the data that is truly
relevant to your business and use it to develop actionable insights that will propel you
forward.
Modern data analyst tools and techniques accelerate the process of text analytics. Thanks to
the combination of machine learning and intelligent algorithms, you can perform advanced
analytical processes such as sentiment analysis. This technique allows you to understand the
intentions and emotions of a text, for example, if it's positive, negative, or neutral, and then
give it a score depending on certain factors and categories that are relevant for your brand.
Sentiment analysis is often used to monitor brand and product reputation and to
understand how successful your customer experience is. To learn more about the topic
check out this insightful article.
By analyzing data from various word-based sources, including product reviews, articles,
social media communications, and survey responses, you will gain invaluable insights into
your audience, as well as their needs, preferences, and pain points. This will allow you to
create campaigns, services, and communications that meet your prospects’ needs on a
personal level, growing your audience while boosting customer retention. One of the most
effective data analysis tools and techniques you will ever invest in.

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How To Analyze Data? Top 15 Data Analysis Techniques
To Apply

Now that we’ve answered the questions “what is data analysis’”, why is it important, and
covered the different types of data analysis methods, it’s time to dig deeper into how to
perform your analysis by working through these 15 essential techniques.

1. Collaborate your needs

Before you begin analyzing your data or drill down into any analysis techniques, it’s crucial
to sit down collaboratively with all key stakeholders within your organization, decide on
your primary campaign or strategic goals, and gain a fundamental understanding of the
types of insights that will best benefit your progress or provide you with the level of vision
you need to evolve your organization.

2. Establish your questions

Once you’ve outlined your core objectives, you should consider which questions will need
answering to help you achieve your mission. This is one of the most important data analytics
techniques as it will shape the very foundations of your success.
To help you ask the right things and ensure your data works for you, you have to ask the
right data analysis questions.

3. Data democratization
After giving your data analytics methodology some real direction, and knowing which
questions need answering to extract optimum value from the information available to your
organization, you should continue with data democratization.
Data democratization is a process that aims to connect data from various sources efficiently
and quickly so that anyone in your organization can access it at any given moment. You can
extract data in text, images, videos, numbers, or any other format. And then perform cross-
database analysis to achieve more advanced insights to share with the rest of the company
interactively.
Once you have decided on your most valuable data sources, you need to take all of this
information into a structured format to start collecting your insights. For this purpose,
datapine offers an easy all-in-one data connectors feature to integrate all your internal and
external data sources and manage them at your will. Additionally, datapine’s end-to-end
solution automatically updates your data, allowing you to save time and focus on
performing the right analysis to grow your business.

4. Clean your data

After harvesting from so many sources you will be left with a vast amount of information
that can be overwhelming to deal with. At the same time, you can be faced with incorrect
data that can be misleading to your analysis. The smartest thing you can do to avoid dealing
with this in the future is to clean the data. This process is fundamental before visualizing it,
as it will ensure that the insights you extract from it are correct.
There are many things that you need to look for while cleaning your data. The most
important one is to eliminate any duplicate observations; this usually appears when using
multiple internal and external sources of data. You can also add any missing codes, fix
empty fields, and eliminate incorrectly formatted data.
Another usual form of cleaning is done with text data. As we mentioned earlier, most
companies today analyze customer reviews, social media comments, questionnaires, and
several other text inputs. In order for algorithms to detect patterns, text data needs to be
revised to avoid invalid characters or any syntax or spelling errors.
Most importantly, the aim of cleaning your data is to prevent you from arriving at false
conclusions that can damage your business in the long run. By using clean data, you will also
help business intelligence tools to interact better with your information and create better
reports for your organization.

5. Set your KPIs

Once you’ve set your data sources, cleaned your data, and established clear-cut questions
you want your insights to answer, you need to set a host of key performance indicators
(KPIs) that will help you track, measure, and shape your progress in a number of key areas.
KPIs are critical to both analysis methods in qualitative and quantitative research. This is one
of the primary methods of data analysis you certainly shouldn’t overlook.
To help you set the best possible KPIs for your initiatives and activities, here is an example of
a relevant logistics KPI: transportation-related costs. If you want to see more go explore our
collection of key performance indicator examples.

6. Omit useless data

Having bestowed your data analysis techniques and methods with true purpose and defined
your mission, you should explore the raw data you’ve collected from all sources and use
your KPIs as a reference for chopping out any information you deem to be useless.
Trimming the informational fat is one of the most crucial methods of analysis as it will allow
you to focus your analytical efforts and squeeze every drop of value from the remaining
‘lean’ information.
Any stats, facts, figures, or metrics that don’t align with your business goals or fit with your
KPI management strategies should be eliminated from the equation.

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7. Build a data management roadmap

While, at this point, this particular step is optional (you will have already gained a wealth of
insight and formed a fairly sound strategy by now), creating a data governance roadmap will
help your data analysis methods and techniques become successful on a more sustainable
basis. These roadmaps, if developed properly, are also built so they can be tweaked and
scaled over time.
Invest ample time in developing a roadmap that will help you store, manage, and handle
your data internally, and you will make your analysis techniques all the more fluid and
functional – one of the most powerful types of data analysis methods available today.

8. Integrate technology
There are many ways to analyze data, but one of the most vital aspects of analytical success
in a business context is integrating the right decision support software and technology.
Robust analysis platforms will not only allow you to pull critical data from your most
valuable sources while working with dynamic KPIs that will offer you actionable insights; it
will also present the information in a digestible, visual, interactive format from one central,
live dashboard. A data analytics methodology you can count on.
By integrating the right technology for your statistical method data analysis and core data
analytics methodology, you’ll avoid fragmenting your insights, saving you time and effort
while allowing you to enjoy the maximum value from your business’s most valuable insights.
For a look at the power of software for the purpose of analysis and to enhance your
methods of analyzing data, glance over our selection of dashboard examples.

9. Answer your questions

By considering each of the above efforts, working with the right technology, and fostering a
cohesive internal culture where everyone buys into the different ways to analyze data as
well as the power of digital intelligence, you will swiftly start to answer your most burning
business questions. Arguably, the best way to make your data concepts accessible across
the organization is through data visualization.

10. Visualize your data

Online data visualization is a powerful tool as it lets you tell a story with your metrics,
allowing users across the business to extract meaningful insights that aid business evolution
– and it covers all the different ways to analyze data.
The purpose of analyzing your data is to make your entire organization more informed and
intelligent, and with the right platform or dashboard, this is simpler than you think, as
demonstrated by our marketing dashboard.

**click to enlarge**
Primary KPIs:
This visual, dynamic, and interactive online dashboard is designed to give Chief Marketing
Officers (CMO) an overview of relevant metrics to help them understand if they achieved
their monthly goals.
In detail, this dashboard displays interactive charts for monthly revenues, costs, net income,
and net income per customer; all of them compared with the previous month so that you
can understand how the data fluctuated. In addition, it shows a detailed summary of the
number of users, customers, SQLs, and MQLs per month to visualize the whole picture and
extract relevant insights or trends for your marketing reports.
The CMO dashboard is perfect for c-level management as it can help them monitor the
strategic outcome of their marketing efforts and make data-driven decisions that can
benefit the business exponentially.
11. Interpretation of data
We already dedicated an entire post to data interpretation as it is a fundamental part of the
data analysis process. It gives meaning to the analytical information and aims to drive a
concise conclusion from the analysis results. Since most of the time companies are dealing
with data from many different sources, the interpretation stage needs to be done carefully
and properly in order to avoid misinterpretations.
To help you through the process of data interpretation, here we list three common practices
that you need to avoid at all costs when looking at your data:

 Correlation vs. causation: The human brain is formatted to find patterns. This
behavior leads to one of the most common mistakes when performing data
interpretation: confusing correlation with causation. Although these two aspects can
exist simultaneously, it is not correct to assume that because two things happened
together, one provoked the other. A piece of advice to avoid falling into this mistake
is never to trust just intuition, trust the data. If there is no objective evidence of
causation, then always stick to correlation.
 Confirmation bias: This phenomenon describes the tendency to select and interpret
only the data necessary to prove one hypothesis, often ignoring the elements that
might disprove it. Even if it's not done on purpose, confirmation bias can represent a
real problem for a business, as excluding relevant information can lead to false
conclusions and, therefore, bad business decisions. To avoid it, always try to
disprove your hypothesis instead of proving it, share your analysis with other team
members, and avoid drawing any conclusions before the entire data analysis process
is finalized.
 Statistical significance: To put it in short words, statistical significance helps analysts
understand if a result is actually accurate or if it happened because of a sampling
error or pure chance. The level of statistical significance needed might depend on
the sample size and the industry being analyzed. In any case, ignoring the
significance of a result when it might influence decision-making can be a huge
mistake.

12. Build a narrative

Now that we’ve discussed and explored the technical applications of data-driven analysis,
we’re going to look at how you can bring all of these elements together in a way that will
benefit your business - starting with a little something called data storytelling.
The human brain responds incredibly well to strong stories or narratives. Once you’ve
cleansed, shaped, and visualized your most invaluable data using various BI dashboard tools,
you should strive to tell a story - one with a clear-cut beginning, middle, and end.
By doing so, you will make your analytical efforts more accessible, digestible, and universal,
empowering more people within your organization to use your discoveries to their
actionable advantage.
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13. Consider autonomous technology

Autonomous technologies, such as artificial intelligence (AI) and machine learning (ML), play
a significant role in the advancement of understanding how to analyze data more
effectively.
Gartner predicts that by the end of this year, 80% of emerging technologies will be
developed with AI foundations. This is a testament to the ever-growing power and value of
autonomous technologies.
At the moment, these technologies are revolutionizing the data analysis industry. Some
examples that we mentioned earlier are neural networks, intelligent alarms, and sentiment
analysis.

14. Share the load

If you work with the right tools and dashboards, you will be able to present your metrics in a
digestible, value-driven format, allowing almost everyone in the organization to connect
with and use relevant data to their advantage.
Modern data dashboards consolidate data from various sources, providing access to a
wealth of insights in one centralized location, no matter if you need to monitor recruitment
metrics or generate reports that need to be sent across numerous departments. Moreover,
these cutting-edge tools offer access to dashboards from a multitude of devices, meaning
that everyone within the business can connect with practical insights remotely - and share
the load.
Once everyone is able to work with a data-driven mindset, you will catalyze the success of
your business in ways you never thought possible. And when it comes to knowing how to
analyze data, this kind of collaborative approach is essential.

15. Data analysis tools

In order to perform high-quality data analysis, it is fundamental to use tools and softwares
that will ensure the best results. As the analysis industry grows, so does the offer for
services and features that you can exploit. Here we leave you a small summary of four
fundamental categories of data analysis tools for your organization.
 Business Intelligence: BI tools allow you to process significant amounts of data from
several sources in any format. Like this, you can not only analyze and monitor your
data to extract relevant insights but also create interactive reports and dashboards
to visualize your KPIs and use them for your company's good. datapine is an amazing
online BI software that is focused on delivering powerful online analysis features that
are accessible for beginner and advanced users. Like this, it offers a full-service
solution that includes cutting-edge data analysis, KPIs visualization, live dashboards,
 and reporting, as well as artificial intelligence technologies to predict trends and
minimize risk.
 Statistical analysis: These tools are usually designed for data scientists, statisticians,
market researchers, and mathematicians, as they allow them to perform complex
statistical analyses with methods like regression analysis, predictive analysis, and
statistical modeling. A good tool to perform this type of analysis is R-Studio as it
offers a powerful data modeling and hypothesis testing feature that can cover both
academic and general data analysis. This tool is one of the favorite ones in the
analysis industry, due to its capability for data cleaning, data reduction, and
performing advanced analysis with several statistical methods. Another relevant tool
to mention is SPSS from IBM. The software offers advanced statistical analysis for
users of all skill levels. Thanks to a vast library of machine learning algorithms, text
analysis, and a hypothesis testing approach it can help your company find relevant
insights to drive better business decisions. SPSS also works as a cloud service that
enables you to perform analysis anywhere.
 SQL Consoles: SQL is a programming language often used to handle structured data
in relational databases. Tools like these ones are popular among data scientists as
they are extremely effective to unlock the value of the information in these
databases. Without a doubt, one of the most used SQL software's in the market is
MySQL Workbench This tool offers several features such as a visual tool for database
modeling and monitoring, complete SQL optimization, along with administration
tools and visual performance dashboards to keep track of KPIs.
 Data Visualization: Data visualization tools are used to represent your data through
charts, graphs, and maps that allow you to find patterns and trends in the data.
datapine's already mentioned BI platform also offers a wealth of powerful online
data visualization tools with several benefits for business purposes. Some of them
include: delivering compelling data-driven presentations to share with your entire
company, the ability to see your data online with any device wherever you are, an
interactive dashboard design feature that enables you to showcase your results in an
interactive and understandable way, and to perform online self-service reports that
can be used simultaneously with several other people to enhance team productivity.

Data Analysis In The Big Data Environment

Big data is invaluable to today’s businesses, and by using different methods for data
analysis, it’s possible to view your data in a way that can help you turn insight into positive
action.
To inspire your efforts and put the importance of big data into context, here are some
insights that you should know – facts that will help shape your big data analysis techniques.
 By 2023 the industry of big data is expected to be worth approximately $77 billion.
 94% of enterprises say that analyzing data is important for their business growth and
digital transformation.
 Companies that exploit the full potential of their data can increase their operating
margins by 60%.
  We already told you the benefits of Artificial Intelligence through this article. This
industry's financial impact is expected to grow up to $40 billion by 2025.
Data analysis concepts may come in many forms, but fundamentally, any solid methodology
will help to make your business more streamlined, cohesive, insightful, and successful than
ever before.

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Key Takeaways From Data Analysis

As we reach the end of our data analysis journey, we leave a small summary of the main
methods and techniques to perform excellent analysis and grow your business.
7 Essential Types of Data Analysis Methods:
1. Cluster analysis
2. Cohort analysis
3. Regression analysis
4. Factor analysis
5. Neural Networks
6. Data Mining
7. Text analysis
Top 15 Data Analysis Techniques:
8. Collaborate your needs
9. Establish your questions
10. Data democratization
11. Clean your data
12. Set your KPIs
13. Omit useless data
14. Build a data management roadmap
15. Integrate technology
16. Answer your questions
17. Visualize your data
18. Interpretation of data
19. Consider autonomous technology
20. Build a narrative
21. Share the load
22. Data Analysis tools
We’ve pondered the data analysis meaning and drilled down into the practical applications
of data-centric analytics, and one thing is clear: by taking measures to arrange your data and
making your metrics work for you, it’s possible to transform raw information into action -
the kind of that will push your business to the next level.
Yes, good data analytics techniques result in enhanced business intelligence (BI). To help
you understand this notion in more detail, read our exploration of business intelligence
reporting.