How to analyze data? Analyzing data can be a tedious and time-consuming task. Also, there is no one right answer to this question. Depending on the purpose and the goal of the analysis. There are different ways to do this. 1⃣ Drill Up and Drill Down We can drill down and drill up to explore different aspects of business and move between levels of information. ✳️Drilling Down is the ability to move into further details from parent to child relationships to uncover root causes of anomalies. ✳️Drilling up is the move up from child to parent to look at the overall biggest picture or to move back and forth to drill up and down. 2⃣ Slicing and Dicing Slicing and dicing refers to the ability to pivot the dimensions of the data on-the-fly. Large blocks of data are cut into smaller segments and the process is repeated until the correct level of detail is achieved for proper analysis. It presents the data in new and diverse perspectives and provides a closer view of it for analysis. 3⃣ Segmentation Grouping data with common attributes is especially useful for things like customer segmentation by customer type (e.g., small business, enterprise business, government). 4⃣ Data Visualization Data visualization is the graphical representation of information and data. By using visual elements like charts, graphs, and maps. There are many data visualization tools that provide an accessible way to see and understand trends, outliers, and patterns in data. 5⃣ Driver Based Relationships Dependency relationships (when one thing happens or changes, another thing happens or changes—in the same direction, or the opposite direction). Clustering relationships (uncovering independent relationships) 6⃣ Benchmarking It is comparing results with internal benchmarks (those produced by other lines of business within your company). Or external benchmarks (those produced by peers in your industry). External Benchmarking is a process where you measure our company’s success against other similar companies. To discover if there is a gap in performance that can be closed by improving our performance. Studying other companies can highlight what it takes to enhance our company’s efficiency and become a bigger player in our industry. 7⃣ Seasonality presence of variations which occur at certain regular intervals, either on a weekly basis, monthly basis, or even quarterly. Various factors may cause seasonality - like vacati... Source: Asif Masani, LinkedIn www.fpnaprofessionals.teachable.com