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Section_1_video_1.1 - data analysis with python masterclass

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6 views

Section_1_video_1.1 - data analysis with python masterclass

Uploaded by

jayantascribe
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Introduction to the

Course
Section 1
What is Data Analysis & Why
is it important?
Video 1.1
What is Data Analysis?

❑ Data analysis is the exercise of looking for useful information in the data.

❑ There are a ton of specific analysis techniques which are suited for a particular
type of setting like spectral analysis done on energies OR sentiment analysis
done on natural language data. We would not be concerning ourselves with
those in this course.

❑ We would be focussed on data analysis used in business decision making.


Why is it important?

❑ To facilitate data driven decision making.

❑ Most of our decisions in our daily lives are based on past


experiences/learnings or information. But there is a certain amount of
personal bias/preference involved as well.

❑ For businesses however, every decision has a cost, so they need objective
and unbiased decisions to ensure success.
How do we do it?
Data Analysis Framework

Step 2
Step 1
Decide on the analysis objective(s). Why did
Understanding the data.
you start this analysis in the first place?

Step 3 Step 4
What are the different questions that come to Select the questions in line with your analysis
mind when looking at the data? objective(s)

Step 5
Step 6
Look for the answers to these questions in the
Summarise your findings in a report
data
Let’s look at the
framework in action with
a simple example
Video Summary

0 What is data analysis?


Understanding the concept of data
analysis

1
0 Why is it important?
Importance of analysing data for
businesses

2
0 Data Analysis Framework
A structured approach to generate insights
from raw data

3
The Tool & The Target
Audience
Next Video

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