How do I analyze data?

Data Science, AI and ML
#1
The method or ways followed to analyse data depends largely on what & how the individual is trying to achieve from the data analysis. There are multiple types of data analysis such as exploratory or descriptive analysis, sensitivity analysis, predictive modelling, reporting & business intelligence, balance scorecard etc. So, depending upon the objective of the research; individuals can choose appropriate tools, technologies and methods for analysing data.
For example – Causality analysis is best achieved using regression analysis etc.
#2

Data analysis depends on the data you are looking into, where the overall process remains same for any type of data. The following steps gives clear idea on how to process and interpret data,

  1. Need to decide the test statistic (the why part)
  2. Now decide the best source for required data
  3. Get the data from the source for required time interval and do sanity check of the data
  4. Data cleaning - To use the data for perfect analysis clean the data to make things easier
  5. Analyze the data for by several interpretation and Visualization techniques
  6. Interpret the results and draw conclusions from historic data