Reference no: EM131827451
Before you start trying to determine what questions should be asked:
1. Explore and get to know the data
• Make sure you understand what each column stands for.
o Identify the data type and unit ($, lbs., etc.) for each column.
• Choose a few records (rows) and go through the data and see how the columns may or may not be related to each other.
• Then use frequency tables, bar charts, pie charts, and histograms (at a minimum) to analyze the data
2. Explain what results you found interesting and why they are interesting.
• The memo should contain:
o Executive Summary
o Purpose of Memo/Analysis
o Interesting/Useful Analysis/Findings
o Recommendations of Possible Actions/Next Steps
• In your memo, use tables and charts to support and illustrate your findings!
• Format the reports, tables, and charts so that the reader focuses on what you are trying to say and is not distracted by lack of formatting, poor formatting, over-formatting, etc.
o Remember that most of the time your manager is going to be looking only at your report and not at your actual Excel files.
o Put your name on the report
Make sure that the report is professional looking.
• You can create your own memo format, but Microsoft Word has many Memotemplates from which to choose.
The most common error people make when starting data analysis is coming up with questions to ask before they are intimately familiar with the data!!!
• Remember: Getting the answer is the easy part. The hard part is trying to figure out the right questions to ask.
• Data analysis is an iterative and incremental task.