Data analysis is a critical process to bridge the gap between the data you hold and the insights you want to obtain. Data analysis ranges from simple statistics and exploratory analyses to complex modelling and hypothesis testing. Our data analysis services will let you understand your data as you never did before.
Summary statistics provide a concise breakdown of your data. However, it will not explain what is going on behind the scenes nor predict how things might change. Presented in tables or simple plots, descriptive statistics will give you a general overview of the information included in your data. Descriptive statistics are ideal when you need to get sense of the data you collected, whether it’s archival, field, survey, or experimental.
Exploratory Data Analysis
Before you start your detailed statistical analysis and modelling, you need to perform exploratory data analysis to explore the relationships between the variables of interest within your data set, to identify patterns and trends that help you understand what is going on. You need to check for missing data and other mistakes and gain maximum insight of underlying structure.
Exploratory data analysis aims at checking your data for outliers or any missing observations, gaining maximum insights of the underlying structure of your data set, and identifying the most influential variables. We can perform a set of statistical procedures and sophisticated visualization techniques to help you explore your data in an easily-digestible manner.
Explanatory Data Analysis
In the realm of data-driven world, Explanatory Data Analysis typically follows the exploratory phase of data analysis. While Exploratory Data Analysis aims to understand the structure and patterns in the data without pre-existing assumptions and to discover unexpected patterns, Explanatory Data Analysis focuses on explaining or confirming hypotheses and assumptions based on the data using visual methods and statistical techniques.
In essence, while the exploratory phase is about understanding what happened, the explanatory phase is concerned about how and why it happened and what should happen next. By leveraging a set of sophisticated statistical methods, we can help you estimate the relationship between your variables of interest. We can also help you assess the strength of the relationship between variables or predict the future relationship between them. Our Explanatory Data Analysis approach ensures that the insights derived are both precise and actionable, bridging the gap between raw data and informed decision-making.