What are the 5 steps of data analysis?

Steps in Data Analysis

Data analysis typically involves five essential steps. First, data collection is crucial, where relevant information is gathered from various sources. Next, the data cleaning process takes place, which involves removing any inconsistencies or errors to ensure accuracy.

Following that, the third step is data exploration, where initial analysis is performed to uncover patterns and trends. The fourth step consists of data modeling, where statistical techniques are utilized to predict outcomes or explain relationships. Finally, the last step is communication of results, where findings are effectively presented to stakeholders to facilitate informed decision-making.