Data Analysis Stages

  1. Identify the need

By the end of this stage, it should be clear what is hoped to be learnt from the project.

Essentially the planning stage.

  1. Identify potential sources
  1. Define scope

Defining the restrictions on the project

The boundaries of the analysis e.g. a budget

Ensure that the information gathered is suitable and reliable to be accurate. The source of information should be unbiased and fit the degree of the project

  1. Source and select information

Information is gathered and the best data is selected.

The selection excludes info what is not relevant or useful

  1. Select most appropriate tools
  1. Process and analyse data

The data is collected and entered into the analysis software and analysed.

e.g. a spreadsheet and the data turned into a graph

  1. Record and store information

This is the stage at which any report into the findings is written. This includes all of the results that have been processed.

  1. Share results

This is the final stage. Results are published so managers or stakeholders can inspect them

A report or website pages

Charts and graphs represent the information visually to identify patterns

Regression analysis considers how changing only one of many different variables affects an outcome. E.g. when the possible impact that population growth can have on the sales, a change in income levels could have a similar effect.