Methods of Data Analytics
There are two types of methods in data analysis which are mentioned below:
1. Qualitative Data Analytics
Qualitative data analysis doesn’t use statistics and derives data from the words, pictures and symbols. Some common qualitative methods are:
- Narrative Analytics is used for working with data acquired from diaries, interviews and so on.
- Content Analytics is used for Analytics of verbal data and behaviour.
- Grounded theory is used to explain some given event by studying.
2. Quantitative Data Analysis
Quantitative data Analytics is used to collect data and then process it into the numerical data. Some of the quantitative methods are mentioned below:
- Hypothesis testing assesses the given hypothesis of the data set.
- Sample size determination is the method of taking a small sample from a large group of people and then analysing it.
- Average or mean of a subject is dividing the sum total numbers in the list by the number of items present in that list.
What is Data Analytics?
Data analytics, also known as data analysis, is a crucial component of modern business operations. It involves examining datasets to uncover useful information that can be used to make informed decisions. This process is used across industries to optimize performance, improve decision-making, and gain a competitive edge.
In this article, we will explore the different types of data analytics, methods used in data analysis, jobs related to data analytics, and the importance of data analytics in today’s world. Let’s begin by understanding the basics of data analytics.
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