What is Data Analysis?

Data analysis is the method of gathering, modeling, and evaluating data in order to obtain information that aids in making decisions. Depending on the business or industry and the goals of the research, there are a variety of approaches and strategies for conducting it. Both of these different data collection approaches are focused on two main areas that are quantitative and qualitative evaluation methods.

To extract information from the provided data, the system of data analysis employs empirical and logical reasoning. The key goal is to find value in data so that the information gained can be used to make better decisions.