In Some companies, the Data Analyst role where the Business Analysis and Data Analysis tasks can be performed by the same person, this person should possess skills required for Business Analyst or Data Analyst but in big or more specialized companies this job could be divided in form of two roles which are Data Analyst and Business Analyst.
So, What is data analysis?
Data Analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making.
But the business analyst is someone who analyzes an organization or business domain (real or hypothetical) and documents its business or processes or systems, assessing the business model or its integration with technology. On the other hand, Data Analysts also needs similar skills but must have high technical ability as much of the role focuses on complex databases, statistics, and formulas that need skills to analyze data like SQL, DATA mining, OLAP, Reports, statistics etc. The main benefits of data analysis are rather self-evident. How can someone improve their processes and identify problematic issues if they are not willing to look at the data to make reliable improvements? Data Analysis is a process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, suggesting conclusions, and supporting decision-making. Data analytics allow us to make informed decisions and to stop guessing.
The main benefits of data analysis.
The skilled Data Analyst that makes proper data analytics adds the following benefits to his/her organization:
- Objective answers that can put an end to an argument.
- Helping companies to spend their advertising budget with maximum effect.
- Identifying the important (and often mission-critical) trends. –
- Identifying businesses performance problems that require some sort of action and sometimes provide recommended corrective actions
- Providing data analysis in a visual manner, which leads to faster and better decisions
- Better awareness regarding the habits of potential customers
- Providing the company with an edge over their competitors.