SKILL 1: Data Analysis - Mágoulo’s School - UnusualKingdom.com

SKILL 1: Data Analysis

Organizational Finance

SKILL 1: Data Analysis

Posted by profmag on February 22, 2024 at 12:54 pm
From the “7 Skills“: the first skill is Data Analysis. To define this skill, I recommended the following video that goes over two different business team roles “Business Analyst” and “Data Analyst” and gives a good description of what’s involved in each: https://youtu.be/G4syHs3M82E?si=ltyLITpmxfgg2d_B

I think we can use these two job descriptions to create our own definition of the skill.

I think it’s also important for us to outline a framework or process of data analysis — so @etcetera was going to do some research into how the process would work or what the components of the discipline are (framework).
- This discussion was modified 8 months, 2 weeks ago by profmag.
profmag replied 8 months, 2 weeks ago 2 Members · 2 Replies
2 Replies

etcetera

Administrator
February 22, 2024 at 4:43 pm

From what I’ve found Data Analysis is taking information and formatting it so that it can be used. A Data Analyst’s job is to collect historical data and sort, clean, organize, and display it so that it can be used to make educated decisions and allocate resources more effectively.

These three links I found do a good job of summing this up and explaining it.

This first one talks about a few different types of frameworks: https://rikkeisoft.com/blog/data-analytics-framework/

This second one talks about why data analysis is important and how the process of doing it: https://www.simplilearn.com/data-analysis-methods-process-types-article

This third is also about the process in case the second uses too much technical language: https://www.g2.com/articles/data-analysis-process
- profmag
  
  Administrator
  February 23, 2024 at 11:29 am
  
  Thanks for these articles! They are very helpful — especially since they each have a process described that we can start to use. I was thinking as I was reading them that I’d like it if we had a chart where we could see their processes side-by-side. This could be something simple on an ODT word doc of spread sheet. Then you and I could go over the list, process the steps, and decide what our process will be. We need to have a beginning idea for a finance issue I need to address on Sunday. Do you think you could pull together a chart of the process steps from each article?

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