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Fundamentals of data analysis

Published on May 29, 2017   25 min
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Hello, my name is Dr. Brian Blank and I'm a finance faculty member at Mississippi State University. Today I will be discussing the fundamentals of data analysis. Specifically, we will focus on how to use large datasets once the data have been gathered and cleaned.
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As of late, one of the topics frequently covered by the media and researches alike is the use of big data, because data are becoming increasingly prevalent, being able to analyze large datasets is more important than ever. Datasets are simply a collection of observations or individual bits of information coded together in a uniform manner. But using a large dataset will allow us to learn more about reality. Thousands of observations can be used to understand what is taking place in the outside world. This is simply due to large quantities of computational power that are now available with modern technology. As data become more common and larger than before, datasets will increasingly be used more frequently and data analysis will be more informative than it has been before. With more information, we can learn using more data and this will add additional value to professionals in various industries.