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What Is Data Analysis?

Data analysis is the process of collecting, inspecting, and evaluating data to discover meaningful information and reaching a conclusion for effective decision making. Data analysis is vital to gain the insight that drives the best possible business decisions. In short, data analysis is interpreting data into meaningful information. There are different types of data such as quantitative and qualitative data which a data analyst uses for analyzing.   

Mainly, They Are Two Types Of Data In Data Analysis:

Quantitative Data: It can be measured or written down in numerical form. E.g. height, size, length, price, area, volume, humidity, temperature etc.

Qualitative Data: It deals with the information, description characteristics etc. that you can observe but not measure — E.G. colour, taste, smell, texture, etc. 

Before analyzing, the data is collected from various sources using different methods. Some of the means of data collection are as follows:

Primary Data: It is the data that is received by the researcher or analyst for the first time. The researcher himself collects this data. The sources of collecting primary data are questionnaires, survey, interview, and observation.

Secondary Data: It is the data which already exists. The researcher or analyst uses this data for data analysis. The sources of collecting secondary data are reports, journals, news, books, magazines etc.

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Who Is A Data Analyst And What Do They Do?

A data analyst retrieves, gathers and organizes data and uses it to settle at meaningful conclusions. Data analysts’ work varies depending on the type of data that they use to complete their work. It could be sales, social media, inventory, etc. It could vary according to the requirements of client-specific projects as well.

Companies in almost every industry benefit from the work of data analysts, from healthcare providers to retail stores to fast-food chains. Data analysts bring insights to an organization that is extremely valuable to employers who want to know more about consumer needs. Data analysts spend most of their time developing systems for collecting data and compiling them into reports that are instrumental in the development of the company. 

You can include a data analyst in everything from setting up an analytics system to providing insights based on the collected. An analyst may even have to train others in his data-collection order.

Data Analyst Skills And Requirements:

  • Bachelor’s Degree from an accredited university or college in computer science.

  • Analyst must have relevant work experience as a data analyst or experience in related field.

  • Ability to work with stakeholders.

  • Ability to assess potential risks.

  • He must be able to analyze existing tools and databases.

  • Ability provide software solution recommendations.

  • He must be able to translate business requirements into non-technical terms for better understanding.

  • He needs to have high-level experience in methodologies and processes for managing large-scale databases.

  • Understanding of metadata standards.

  •  Competent written and verbal skills. 

Data Analyst Job Description

Responsibilities Of A Data Responsibilities

  • Manage, create, update and delete master data.

  • Manage user activities.

  • Ensure the quality of imported data.

  • Commission and decommission data sets.

  • Analyst must process confidential data in compliance with guidelines.

  • Generate and develop analytic reports from single or multiple systems.

  • Manage and design reporting environment, including data sources, security, and metadata.

  • He must support the data warehouse to identify and revise reporting requirements.

  • He needs to support data-integrity and normalization initiatives.

  •  Assess and implement upgraded software.

  • Assist with strategic decisions on new systems.

  • Troubleshoot reporting database environment and analytic reports.

  •  Evaluate changes and updates to source production systems.

  •  He must be able to train end-users on new reports and dashboards. 

  •  Provide technical expertise in data storage structures, data mining, and data cleansing. 

Benefits Of Outsourcing Data Analysts:

Dedicated Team Of Data Professionals:

Data analysis is a complicated job as the data analyst have to collect data from various sources, gather information, facts and figures via several sources, and then analyze the review and conclude the data with possible solutions. For this intricate work, organizations need a team of professionals who will do it for them. When you outsource a data analyst, you get a dedicated team of data professionals who are well skilled and have in-depth knowledge of data analysis.

 Reduce The Burden Of Internal Sources:

Even if you already have IT people or analysts in your staff, they may not always be able to concentrate on data analytics. To avoid this risk, you can outsource an analytical data service, so that it lightens the burden of your internal source. The outsourcing company will give you the desired results and proper data analysis of your company.

Specialized Data-Analysis Tools:

When you hire data analysts, the data analytical agencies have a variety of data analysis tools used to analyze, organize and visualize data. Another advantage of data analytics outsourcing is that they have experience in their respective field of work. You can be sure that they have done similar projects for other organizations also. They can use their expertise and come up with some creative and innovative ways to interpret your data.

Savings:

Outsourcing is the most cost-effective way for any services. If you outsource the services of data analytics, you will save a lot of your money. It will be costly if you hire software engineers, project managers, and database specialists separately for data analysis. On the contrary, if you outsource data analytics services, it will minimize your cost.

Time-Saving:

The outsourcing agency has a team of professional experts who know their job role very well. They know what to do when to do, how to do, and how to manage time as well. So, hiring an outsourcing company for data analytics means saving time.

Efficient Data Management:

The outsourcing data analytics agencies ensure proper and systematic management, organizing and storage of your crucial data across multiple platforms.

High-Quality Services:

Outsourcing data analytical agencies provide you with high-quality service related to your data management, data storage, interpretation etc. It will help you make effective business decisions and eases your decision-making process.

Data Security:

As business data contain very crucial and confidential information regarding your business, the outsourcing agencies make sure that they secure your data and keep your data safe.

Top Interview Questions For Data Analyst Job

Why Do You Want To Be A Data Analyst?

A data analyst’s job is to collect relevant data and use it to help companies make better business decisions. I am good with numbers, collecting data, and market research. I want to work in this job role because it encompasses the skills at which I am proficient. Also, I find data and marketing research interesting.

Which Area Would You Prefer To Work In And Why?

One way to approach this question is; “I would prefer to work as a marketing analyst because it’s in line with my skills and interests. Besides, I have seen that the companies who hire for this role work in industries that are booming and can, therefore, provide good career growth.”

In Which Data Analyst Software Are You Trained?

A sample answer for this question could be; “I have a breadth of software experience. For example, at my current employer, I do a lot of ELKI data management and data mining algorithms. I can also create databases in Access and make tables in Excel.”

Mention The Various Steps In An Analytics Project.

The various steps in an analytics project include

  • Problem definition

  • Data exploration

  • Data preparation

  • Modelling

  • Validation of data

  • Implementation and tracking

 What Is Data-Cleansing?

Data cleansing deals with identifying and removing errors and inconsistencies from data to enhance the quality of data.

Tell Me A Few Of The Best Practices For Data Cleansing.

A few of the best data-cleansing practices include the following:

  • Sorting data by different attributes.

  • For large datasets cleansing it stepwise.

  • Improving the data with each step until you achieve a good data quality.

  • For large datasets, break them into small data. Working with less data increases your iteration speed.

  • Managing common cleansing task to create a set of utility functions/tools/scripts. It may include, remapping values based on a CSV file or SQL database or, regex search-and-replace, blanking out all values that don’t match a regex.

  • In case of any issue with data cleanliness, arranging them by estimated frequency and attack the most common problems is necessary.

  • Analysis of the summary statistics for each column.

  • Keeping track of every date cleaning operation, so you can alter changes or remove services if required.

Name Of Some Best Tools That Can Be Useful For Data Analysis?

  • Tableau

  • RapidMiner

  • OpenRefine

  • KNIME

  • Google Search Operators

  • Solver

  • NodeXL

  • io

  • Wolfram Alpha’s

  • Google Fusion tables

Differentiate Between Data Mining And Data Profiling?

DATA PROFILING DATA MINING
It targets the instance analysis of individual attributes. It gives information on various characteristics like value range, discrete value and their frequency, occurrence of null values, data type, length, etc. It focuses on cluster analysis, detection of unusual records, dependencies, sequence discovery, relation holding between several attributes, etc.

What Are Some Of The Common Problems Faced By Data Analyst?

Some of the common problems faced by data analyst are

  • Common misspelling.

  • Duplicate entries and values.

  • Illegal costs.

  • Different value representations.

  • Identifying overlapping data.

Name The Framework Apache Had Developed For Processing An Extensive Data Set For An Application In A Distributed Computing Environment?

Hadoop and MapReduce is the programming framework developed by Apache for processing extensive data set for an application in a distributed computing environment. 

What Are The Missing Patterns That You Can Generally Observe?

The missing patterns are 

  • Missing completely at random

  • Missing at random

  • Missing that depends on the missing value itself

  • Missing that depends on unobserved input variable

What Is The Function Of KNN Imputation Method?

In KNN imputation, it imputes the missing attribute values by using the attribute’s value that is most similar to the attribute whose values are missing. It determines the similarity of two attributes by using a distance function.

Name The Data Validation Methods Used By Data Analyst?

Methods used by data analyst for data validation include-

  • Data screening

  • Data verification

What Are You Supposed To Do With Suspected Or Missing Data?

  • Prepare a validation report that gives information on all suspected data. It should provide information like validation criteria that it failed and the date and time of occurrence

  • Experience personnel should examine the suspicious data to determine their acceptability

  • Invalid data should be assigned and replaced with a validation code

  • To work on missing data, use the best analysis strategy like deletion method, single imputation methods, model-based methods, etc.

How Would You Deal With The Multi-Source Problems?

To deal with the multi-source problems, I would restructure schemas to accomplish a schema integration. I would try to Identify similar records and merge them into a single document containing all relevant attributes without redundancy

Which Imputation Method Is More Favorable?

Although single imputation is widely in use, it does not reflect the uncertainty created by missing data at random.  So, multiple imputation is more favorable than single imputation in case of data missing at random.

Explain The Criteria For A Good Data Model?

Criteria for a good data model includes;

  • It is easily consumable

  • Massive data changes in a good model should be scalable

  • It should provide predictable performance

  • A good model can adapt to changes in requirements

Define Time Series Analysis?

Time series analysis can process in two domains, frequency domain and the time domain.  In Time series analysis, the output of a particular process can be forecast by analyzing the previous data by the help of various methods like exponential smoothening, log-linear regression method, etc.

Define Correlogram Analysis?

A correlogram analysis is the standard form of spatial analysis in geography. It consists of a series of estimated autocorrelation coefficients calculated for a different spatial relationship.  It can be used to construct a correlogram for distance-based data when it expresses the raw data as a distance rather than values at individual points. 

Give A Few Statistical Methods That Are Useful For Data-Analyst.

  • Statistical methods that are useful for data scientist are’;

  • Bayesian approach

  • Markov process

  • Spatial and cluster processes

  • Rank statistics, percentile, outliers detection

  • Imputation techniques, etc.

  • Simplex algorithm

  • Mathematical optimization

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The Process to Hire a Resource is Quite Simple:

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We make sure the quality of the work is not impacted because of the time slot. But people do prefer to work during the day, so if you are open to your employee working in the day slot, you will have a bigger pool of resources to choose from.

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In case of any issue simply get in touch with your dedicated relationship manager at GlobalEmployees via e-mail or phone. GlobalEmployees managers are present 24 hours a day to resolve any of your problems.

We understand that with employees there can be a performance issue and we are always open to discuss and find a solution mutually. Typically, if the performance of a resource is not satisfactory then we endeavor to find a replacement for you. In another situation where a hired resources has delivered a decent performance but has been unable to scale it up, then we will charge you for the number of days the resource has worked and, will refund the remaining amount. We would request you inform of any such dissatisfaction within the span of a week so that we can take appropriate steps. In situations where you have not expressed your dissatisfaction and the resource has delivered considerable amount of work, we will not be responsible. Herein, you are requested to mail us an appropriate notice clearly mentioning the termination of our services.

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This is because GlobalEmployees enters into a legal contract with the employee you hire. Accordingly, GlobalEmployees is legally liable to provide the employee you hire with a paid notice period. Thus, the fee for the 15 days notice period to terminate our services is required in advance before the employee starts working.

No. There are no hidden charges. The price quoted with each submitted resume is the full and complete cost for the entire service. The only exception is if your employee requires software or hardware that we do not provide and is costly to acquire.

Your employee is entitled to 8 paid holidays in a year. In addition, your employee accumulates one day of paid leave per month. Hence, in one year your employee is entitled to 19 days of paid days off work. Any other days off work are unpaid leaves, for which you will not be charged.

No. GlobalEmployees provides you with a long-term dedicated employee. You work with the same employee every day. Hence, it is not possible to cover the odd absence by an employee. In case your employee requires a substantial time off work, GlobalEmployees can replace the employee.

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The entire hiring process takes around 1-2 weeks from the time you submit the requirements. In case you are in a rush to find your employee and start sooner, you could subscribe to our Premium service, which would prioritize your case. The turnaround time with Premium service is around 4-6 business days.

The cost of subscribing to our premium service is $100. This charge would be adjusted in your first month’s invoice, thus it is not an extra charge. And yes, the amount is fully refundable if we are unable to find a suitable candidate for you.

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Why Hire Data Analysts From GlobalEmployees?

Hiring With GlobalEmployees Gets You A Skilled Data Analyst, Giving You:

  • No headaches about infrastructure, labor/employment laws, HR costs, additional employee benefits, etc.

  • A developer dedicated to your work. 1 Project for 1 Employee policy.

  • An employee that you choose, not one that’s dumped on you.

  • Complete Control: Since you are the one driving your work you get a customized development to your specified guidelines.

  • No Risk: If the employee doesn’t work out, you can get out with a short notice without worrying about severance pay, damages or any other legal hassles.

The Overall Process To Hire Your Resource Usually Takes 1-2 Weeks From The Time You Convey The Requirements.