Data Analysis and its Importance

Abstract

The data available is growing at an exponential rate. The increase in data in itself is a minor problem, but the percentage of unstructured data in the overall data volume is what is concerning all. so it becomes a basic necessity to discover ways to process and transform complex, unstructured, or large amounts of data—into meaningful insights, This brief outline of data analysis will help us nderstand what is data analysis, the value it holds in many industries worldwide and how majority of the organizations invarious sectors bank on data analysis to survive the ongoing market race. This paper maintains its focus on explaining the basicprocedures followed in obtaining something immensely useful from the available disorganized facts and figures by analyzing them. Alsodiscussed briefly are its applications in areas such as management,retail, healthcare, education and so on. This paper highlightsimportant concepts of data analysis.