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Basic ideas of data analysis

  • Recent Updates: April 26, 2022
  • 1. Overview

    When using data for data analysis, some basic analytical thinking is often used, such as time trends, drill-down queries, comparisons, and so on.

    This article explains some basic ideas for commonly used data analysis.

    1.1 Description

    Before starting data analysis, you need to think about the purpose of the analysis and the information you want to convey to the viewer.

    When conducting data analysis, only the purpose of the analysis can be clearly displayed in order to visually display the analysis results.

    Drawing a mind map is also a good solution.

    2. Seven types of basic ideas for data analysis

    The following table describes seven different basic ideas for data analysis that can be used, and provides examples for each method.

    Data typeDescription

    image.png

    Change over time

    Role: Use the time period to illustrate a trend.

     

    Example: Purchase cost reduction analysis: Analysis of supplier purchase amount to view unit price data under time trend.

    image (1).png

    Drill down query

    Function: Set the context so that the viewer can better understand the data information under a more granular specific category.

     

    Example: Sales analysis of a marketing organization : drill down from group performance to individual performance scores.

    image (2).png

    Zoom out

    Role: Describe the relationship between the viewer's attention and the overall situation, and the impact of a specific content on the overall situation.

     

    Example: Analysis of the decline in the number of customers  : Which customer types and tiers have experienced significant declines that have affected the total number of customers.

    image (3).png

    Compared

    Role: Indicate the difference between two or more themes.

     

    Example: Analysis of the decline in the number of customers  : Compare the decline in customer types and levels in the two years (2017, 2018).

    image (4).png

    crossroads

    Role: Highlight important changes when one category surpasses another.

     

    image (5).png

    factor

    Role: Explain the themes by dividing them into different types or categories.

     

    Example:Business Analysis Report for the First Half of 2020 : Analyze the operating conditions of the previous year from the three aspects of sales, gross profit, expenses and labor costs.

    image (6).png

    Outliers

    Role: Display abnormalities or special abnormalities of the event.

     

    Example:Analysis of  abnormal gross profit margin: Find out the problem by locating abnormal gross profit months, abnormal stores, abnormal products/categories, and abnormal order details.

    3. Matters needing attention

    3.1 Concise and clear, highlight key points

    The data presentation invites its simplicity. Make sure that each component is useful, and if you don’t need descriptions, titles, legends, or grid lines, you can cancel the settings.

    BeforeLater
    1.png2.png

    3.2 Setting the adaptation method of the component

    Components are a common part of FineBI data analysis. For these data components, adaptive display can be used. It adjusts the size of the component to make it fit the dashboard to be created, as shown in the following figure:

    3.png

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