From the course: Introduction to Business Analytics (2020)
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Effective data analysis
From the course: Introduction to Business Analytics (2020)
Effective data analysis
- In recent years, the demand for business analysts has started to soar. But what does an effective analyst actually do? Well a great analyst doesn't just crunch numbers all day long. An effective analyst really understands the inner workings of a business's goals, functions, and challenges, plus, the underlying data that leads to those outcomes. Whether you're running a large organization and have a team of analysts or you're a small business owner and you need to wear the analyst hat from time to time, it's important to understand the main functions of effective data analysis. Step one, before you go digging in your data, you need to understand your goal. It could be increasing sales, lowering costs, or improving your marketing. It's important to focus on the goal and not get too distracted. There's often tons of data and a lot of rabbit holes that you might find yourself going down. Step two involves defining the…
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