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Data analysis is a process for obtaining raw data, and subsequently converting it into information useful for decision-making by users. [1] Data is collected and analyzed to answer questions, test hypotheses, or disprove theories. [11] Statistician John Tukey, defined data analysis in 1961, as:
Chief analytics officer (CAO) is a job title for the senior manager responsible for the analysis of data within an organization, such as a listed company or an educational institution. The CAO often reports to the chief executive officer .
Data analysis focuses on the process of examining past data through business understanding, data understanding, data preparation, modeling and evaluation, and deployment. [8] It is a subset of data analytics, which takes multiple data analysis processes to focus on why an event happened and what may happen in the future based on the previous data.
A job description or JD is a written narrative that describes the general tasks, or other related duties, and responsibilities of a position. It may specify the functionary to whom the position reports, specifications such as the qualifications or skills needed by the person in the job, information about the equipment, tools and work aids used, working conditions, physical demands, and a ...
Exploratory data analysis is an analysis technique to analyze and investigate the data set and summarize the main characteristics of the dataset. Main advantage of EDA is providing the data visualization of data after conducting the analysis.
In other words, business intelligence focusses on description, while business analytics focusses on prediction and prescription. [1] Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, [2] and fact-based management to drive decision making.
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