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Data analysis is the process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. [1] Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science ...
Exploratory data analysis is an analysis technique to analyze and investigate the data set and summarize the main characteristics of the dataset. Main advantage of EDA is providing the data visualization of data after conducting the analysis. Tukey's championing of EDA encouraged the development of statistical computing packages, especially S ...
Within statistics, oversampling and undersampling in data analysis are techniques used to adjust the class distribution of a data set (i.e. the ratio between the different classes/categories represented). These terms are used both in statistical sampling, survey design methodology and in machine learning. Oversampling and undersampling are ...
Data science is an interdisciplinary field [10] focused on extracting knowledge from typically large data sets and applying the knowledge and insights from that data to solve problems in a wide range of application domains. The field encompasses preparing data for analysis, formulating data science problems, analyzing data, developing data ...
The outer circle in the diagram symbolizes the cyclic nature of data mining itself. A data mining process continues after a solution has been deployed. The lessons learned during the process can trigger new, often more focused business questions, and subsequent data mining processes will benefit from the experiences of previous ones.
Analytical skill is the ability to deconstruct information into smaller categories in order to draw conclusions. [1] Analytical skill consists of categories that include logical reasoning, critical thinking, communication, research, data analysis and creativity. Analytical skill is taught in contemporary education with the intention of ...
Multivariate statistics is a subdivision of statistics encompassing the simultaneous observation and analysis of more than one outcome variable, i.e., multivariate random variables. Multivariate statistics concerns understanding the different aims and background of each of the different forms of multivariate analysis, and how they relate to ...
Data envelopment analysis (DEA) is a nonparametric method in operations research and economics for the estimation of production frontiers. [1] DEA has been applied in a large range of fields including international banking, economic sustainability, police department operations, and logistical applications [2] [3] [4] Additionally, DEA has been used to assess the performance of natural language ...