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Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. [4]
Tukey defined data analysis in 1961 as: "Procedures for analyzing data, techniques for interpreting the results of such procedures, ways of planning the gathering of data to make its analysis easier, more precise or more accurate, and all the machinery and results of (mathematical) statistics which apply to analyzing data."
Analytics is the systematic computational analysis of data or statistics. [1] It is used for the discovery, interpretation, and communication of meaningful patterns in data, which also falls under and directly relates to the umbrella term, data science. [2] Analytics also entails applying data patterns toward effective decision-making.
Two main statistical methods are used in data analysis: descriptive statistics, which summarize data from a sample using indexes such as the mean or standard deviation, and inferential statistics, which draw conclusions from data that are subject to random variation (e.g., observational errors, sampling variation). [4]
These summaries may either form the basis of the initial description of the data as part of a more extensive statistical analysis, or they may be sufficient in and of themselves for a particular investigation. For example, the shooting percentage in basketball is a descriptive statistic that summarizes the performance of a player or a team ...
Data visualization refers to the techniques used to communicate data or information by encoding it as visual objects (e.g., points, lines, or bars) contained in graphics. The goal is to communicate information clearly and efficiently to users. It is one of the steps in data analysis or data science. According to Vitaly Friedman (2008) the "main ...
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