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Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. [4]
Analytics is the systematic computational analysis of data or statistics. [1] It is used for the discovery, interpretation, and communication of meaningful patterns in data, which also falls under and directly relates to the umbrella term, data science. [2] Analytics also entails applying data patterns toward effective decision-making.
Financial analysts can also use percentage analysis which involves reducing a series of figures as a percentage of some base amount. [1] For example, a group of items can be expressed as a percentage of net income. When proportionate changes in the same figure over a given time period expressed as a percentage is known as horizontal analysis. [2]
It can be used for auditing. It can be used for accounting purposes. [citation needed] The information stored is only available for later analysis if it is stored in a form that can be analysed. This data can be structured in many ways for analysis. For example, storing it in a relational database would force the data into a query-able format.
Management discussion and analysis or MD&A is an integrated part of a company's annual financial statements. The purpose of the MD&A is to provide a narrative explanation, through the eyes of management, of how an entity has performed in the past, its financial condition, and its future prospects.
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.
Financial statement analysis (or just financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions to earn income in future. These statements include the income statement , balance sheet , statement of cash flows , notes to accounts and a statement of changes in equity (if ...
The term data processing has mostly been subsumed by the more general term information technology (IT). [5] The older term "data processing" is suggestive of older technologies. For example, in 1996 the Data Processing Management Association (DPMA) changed its name to the Association of Information Technology Professionals. Nevertheless, the ...