Common types of data analysis
Different metrics need different kinds of analysis to get actionable information from the underlying data. There are certain metrics that can be analyzed from a couple of different angles. But once you know the business need for the metric, you will be able to figure out the data analysis needed easily.
Commonly, there are three types of data analysis that you will come across in day-to-day usage:
Comparison of data
Transition of data
Composition of data
There are advanced charts that facilitate more than one analysis in the same chart that we will look at later in the chapter.
Comparison of data
Comparison analysis enables us to identify the highs and lows of data. For instance, by applying comparison analysis to the sales figures of 10 individuals, the best and the worst performers can easily be identified.
Comparison analysis is done with the help of column charts (also known as vertical bar charts) and bar charts. In these charts, data values are represented...
