What is the process of Data Analysis?

Data analysis is the process of collecting, cleansing, interpreting, transforming and modeling data to gather insights and generate reports to gain business profits. Refer to the image below to know the various steps involved in the process.

Fig 1: Process of Data Analysis – Data Analyst Interview Questions

Collect Data: The data gets collected from various sources and is stored so that it can be cleaned and prepared. In this step, all the missing values and outliers are removed.
Analyse Data: Once the data is ready, the next step is to analyze the data. A model is run repeatedly for improvements. Then, the model is validated to check whether it meets the business requirements.
Create Reports: Finally, the model is implemented, and then reports thus generated are passed onto the stakeholders.

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