What is data analysis and example
Data analysis is the process of collecting, organizing, and interpreting data to uncover patterns, trends, and insights. It involves using various statistical techniques and tools to analyze and extract meaningful information from raw data.
Example:
Let's say a company wants to analyze the sales performance of their products. They collect data on the quantity of each product sold, the time and location of the sales, and the customer demographics. They then use data analysis techniques to identify the best-selling products, determine which factors influence sales (e.g., time, location, customer demographics), and make data-driven decisions such as adjusting their marketing strategies, targeting specific customer groups, or optimizing their product offerings.