Identify performance issues that require action.Make faster and more informed business decisions backed by facts.There’s more than one advantage to data analysis done right. It is worth mentioning that science also uses data analysis to test or discard existing theories or models. Advantages of data analysisĬurrently, many industries use data to draw conclusions and decide on actions to implement.
– Daniel Burrus, business consultant and speaker on business and innovation issues. “A lot of this will help humans work smarter and faster because we have data on everything that happens”. This process happens to obtain precise conclusions to help us achieve our goals, such as operations that cannot be previously defined since data collection may reveal specific difficulties. It consists of subjecting data to operations. But what is data analysis in simple words? What is data analysis?ĭata analysis is the science of examining data to draw conclusions about the information to make decisions or expand knowledge on various subjects. However, this data analysis can only add value to the business when analyzed to gain insights into improving your products and services.ĭata analysis allows you to know and interpret information to identify value points. To this day, we collect data at various points of processes and transactions, which has great potential to change the way we work for the better.