What are the steps in data analysis process

Question

What are the basic steps that one needs to follow in data analysis?

Answer 1

Need to follow these steps:

• Data requirements – this specifies the data that is necessary as input for the analysis and depends on the requirements.
• Data collection – data collection is the process of gathering data of targeted variables found in the data requirements step.
• Data processing – the collected data needs to be processed or organized for enhancing understandability.
• Data cleaning – the processed data is not always error free. In this step, processed data is further looked in for errors, redundant values, incorrect or incomplete values etc and rectified.
• Data analysis – once the data has been collected, processed and cleaned, it’s ready for analysis purpose. Various data analysis methods are applied to derive conclusions based on requirements.

• Communication – analysed data is of no use if not communicated. In this step, conclusions derived are represented in a specific format and communicated to certain teams which will help those teams make better and promising decisions.Data requirements – this specifies the data that is necessary as input for the analysis and depends on the requirements.
• Data collection – data collection is the process of gathering data of targeted variables found in the data requirements step.
• Data processing – the collected data needs to be processed or organized for enhancing understandability.
• Data cleaning – the processed data is not always error free. In this step, processed data is further looked in for errors, redundant values, incorrect or incomplete values etc and rectified.
• Data analysis – once the data has been collected, processed and cleaned, it’s ready for analysis purpose. Various data analysis methods are applied to derive conclusions based on requirements.
• Communication – analysed data is of no use if not communicated. In this step, conclusions derived are represented in a specific format and communicated to certain teams which will help those teams make better and promising decisions.

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Answer 2

Well explained @Maverick, In simple words the process of Data analysis consists of -

• Data Loading - load data from various data sources
• Data Cleaning - cleaning data i.e removing or filling null values, remove unnecessary data fields, rows, etc
• Data Transformation - transform data to the same format, formatting of data.
• Data Modelling - model or visualize data in various forms such as a table, charts, graphs, etc 
• Data Analysis - perform data on the models made using in the previous step and gather insights, problems and solutions.