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What type of analytical methods & tools do you expect to use in your chosen

profession?

What are Data Analysis Methods & Tools?

Data analytical methods & tools are often defined as a series of diagrams, charts maps,

etc. to present the wide range of data for application & industries. Various programs &

software are developed to be used & nearly every industry uses these tools to collect data

to research for manufacturing & quality assurance for the benefit of companies. Data

analytical methods & tools are widely used in almost every sector to ensure transparency,

customer interaction & feedback, risk management & fraud detection, health-care system

& city palling, targeted advertisements & digital content, etc.

Take a simple example of the health-care system. As we have all noticed recently in the

global outbreak of pandemic corona virus. Hospitals were facing the challenge & pressure

to treat as many patients within limited time & resources as possible. Data analysis allows

us to monitor the data to predict certain scenarios to achieve efficiency in the minimum

time possible & resources.

What are the advantages & disadvantages of Data Analytical Tools & methods?

The following points are the advantages of data analysis methods & tools. They are

defined as follow:

1. You get instant insights into the solutions with graphical representation.

2. They do not require heavy computing or processing power which is neither time

consuming nor resource intensive.

The following point is the disadvantages of data analysis methods & tools. They are

defined as follow:
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1. Most problems' solutions cannot be reached by doing data analytical methods.

2. These methods required a great amount of mathematical knowledge & skills to work

with to solve problems & perform calculations.

3. With the development & computational capacity, these analytical methods & solutions

become rather slow in comparison.

Data Analysis Methods:

These are the most common methods of Data Analysis. They are defined as followed:

1. Qualitative Analysis: The qualitative analysis mainly answered WH questions i.e.

who, what, where, why, when, or how. Each of these WH questions is addressed as

questionnaires such as quantitative techniques. This analysis is often used in the form of

narrative or a form of text sometimes it might also include video & audio presentation.

2. Quantitative Analysis: Quantitative analysis is measured in several terms. The data

represented here itself in terms of measurement scales & statistical manipulation to extend

itself furthermore.

3. Text Analysis: Text analysis is a technique for machine-readable facts to extract &

analyze data. It is built to create structured data free of unstructured content. The aim is to

process content that is easy to use, easy to read & interpret the piece of data. It is also

commonly known as text mining, which is widely used in email filtration, database, &

machine learning, etc. The biggest challenge is to analyze human language ambiguity in

text analysis. For example, humans can understand these data formats ("1 Aug, 19" or

"August 1, 2019"). These data are different in format, but humans can easily understand

them. For text analysis, some standards are made to remove these unstructured data &

convert it into standard single formats.

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4. Statistical Analysis: Statistical analysis is the technique of data collection, validation,

& interpretation. It is used to perform data quantification & data statistical analysis for

several operations. Quantitative data analysis includes descriptive data like observation

data of past, current, or predictive data & surveys that are conducted in a different way

like online forms or form user feedback. A statistical analysis system includes various

statistical data analysis tools to perform.

5. Diagnostic Analysis: The diagnostic analysis provides more in-depth analysis further

than statistical analysis to answer the question. Diagnostic analytic has three categories.

They are defined as follow:

a. Identify anomalies: it identifies the areas where further study is required where

questions cannot be answered by looking into the data.

b. Discovery: Identify the source of the problem. By looking into the pattern & identify

the correlation between them to determine if they are causal in nature.

c. Determine Causal Relationship: Uncovered relation to identifying the problem that

might have resulted in anomalies

6. Predictive Analysis: Predictive analysis is a technique that uses historical data that

create a machine learning model to find certain patterns. The model applies current data to

predict what might happen next. The following list is a common predictive analysis. They

are defined as follow:

a. Fraud Detective: find the patterns to prevent criminal activities.

b. Marketing Campaigns: Models help to reach the targeted audience.

c. Improving: Learning from past errors to improve in the future.

d. Risk: Predict the likelihood of risk & avoid the possible dangerous outcome.
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7. Prescriptive Analysis: The prescriptive analysis is a step further of predictive analysis.

It helps in automated decision & recommendation based on an algorithm & provides clear

direction form utilizing the analytical techniques

Data analysis tools: these are the common data analysis tools

1). Excel 2). Python (Programming language) 3). Power BI

Provide examples of the types of questions that may arise in your career that data

can address. Include how you (or your company/industry) will generate & analyze

data & the role you will play in this?

Almost every industry data, analytical methods, & tools are used to address the arising

problem. By finding patterns in past data. If you have a specific role in analytics such as

data analyst or lab analyst, you should improve your analytical skills specific to your

organization or industry. Analyst job required to have analytical skills & technical

knowledge. Many other jobs including architecture, computer science, customer teaching.

Data can help my company/industry better understand the customers, improve advertising

campaigns, help personalize the content, & improve the bottom lines. Data has many

advantages but most of these benefits can't be accessed without the use of data analytic

tools & processes. While data in its raw form has tremendous potential you need data

analytic to unlock the power to grow your company/business for the company/industry,

the data they use may include historical data or new information they collect for a

particular initiative. They may also collect it first-hand from their customers & site visitors

or purchase it from other organizations. Data a company collects about its customers is

called first-party data, data a company obtains from a known organization that collected it

is called second-party data & aggregated data a company buys from a marketplace is
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called third-party data. The data a company uses may include information about an

audience’s demographics, interests, behaviors, & more.

Beyond this class, what steps will you take to maintain & enhance your analytical

skills as they develop with technology?

Analytical Skills:

Analytical skills help you make better decisions in a complex situation & in developing

solutions. These skills are widely in demand in many organizations.

What is analytical thinking?

Identifying the problem & observing & researching to overcome the problem & develop

complex ideas to provide solutions. Analytical thinking has the following step that is

involved in identifying the problems, Information gathering, understating the situation &

providing better solutions, testing your skill & ideas & reviewing your knowledge &

assessing your solutions.

Analytical thinking can be perfect through trial & error. Those with strong problem-

solving skills can easily overcome the problem & provide a solution to accomplish goals.

List of analytical skills:

There are several analytical thinking skills. These are a valuable skill that is defined as

followed:

1. Critical thinking: Understating all aspects of the problem & identifying why the

problem occurs in the first place.

2. Research & analysis: Analyzing the data is the primary part of analytical thinking by

reviewing the data & information to solve the problem.

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3. Research: Once the problem is being identified, research on it so it might not happen in

the future. It could be by reviewing data or asking for feedback

4. Communication: It is important to keep in touch with stakeholders while identifying

the problem & reviewing for solutions. Carrying out detailed discussions is essential to

activate the end goal.

5. Problem-solving: After the problem & completing your search use analytical thinking

to sort things out by involving the data that you research on & find a resalable & effective

solution for problem-solving.

How to improve your analytical thinking skills?

Improving your skills can help you take better & faster decisions. & help your risk

management to prevent the problem before it occurs. These are the following step to

improve your overall analytical thinking skills:

1. Take a role in leadership that requires critical analytical skills.

2. Practice a critical role in your current situation.

3. Take classes & join the seminar to learn from others.

4. Participate in activities that are challenging & relaxing like sports or reading.

5. The seek for advice, ask for help & learn to form others

6. Conduct research on your own based on past data.

7. Improve your knowledge in a particular subject to faster problem-solving in a critical

situation.

Reference:

Management Mania, 14 Feb 2017, Analytical techniques, viewed 8 Aug 2020,

<https://managementmania.com/en/analyses-analytical-techniques>
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Lotame, 23 Sept 2019, What is Data Analytics, viewed 8 Aug 2020,

<https://www.lotame.com/what-is-data-analytics/#:~:text=Lotame%20Analytics%20helps

%20you%20to,across%20user%20attributes%20and%20behaviors>