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Data Analysis and its Importance

Journal: International Research Journal of Advanced Engineering and Science (IRJAES) (Vol.2, No. 1)

Publication Date:

Authors : ;

Page : 166-168

Keywords : Anomalies; data analysis; decision-making; productivity enhancement; unstructured data;

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Abstract

The data available is growing at an exponential rate. The increase in data in itself is a minor problem, but the percentage of unstructured data in the overall data volume is what is concerning all. so it becomes a basic necessity to discover ways to process and transform complex, unstructured, or large amounts of data?into meaningful insights, This brief outline of data analysis will help us understand what is data analysis, the value it holds in many industries worldwide and how majority of the organizations in various sectors bank on data analysis to survive the ongoing market race. This paper maintains its focus on explaining the basic procedures followed in obtaining something immensely useful from the available disorganized facts and figures by analyzing them. Also discussed briefly are its applications in areas such as management, retail, healthcare, education and so on. This paper highlights important concepts of data analysis.

Last modified: 2017-03-09 18:50:40