The first step in the process is ..... Data relevant to the applicant is collected. The quality, quantity, validity, and nature of data directly impact the analytical outcome. A thorough understanding of the data on hand is extremely critical.

BUSINESS ANALYTICS

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The first step in the process is ____ Data relevant to the applicant is collected. The quality, quantity, validity, and nature of data directly impact the analytical outcome. A thorough understanding of the data on hand is extremely critical.

A	Results
B	Put Into Use
C	Data Collection
D	Model Building

Explanation:

Detailed explanation-1: -Step 1: Identify issues and/or opportunities for collecting data. The first step is to identify issues and/or opportunities for collecting data and to decide what next steps to take.

Detailed explanation-2: -Once you’ve collected all of your data, it’s time to analyze it and organize your findings. The analysis phase is crucial because it turns raw data into valuable insights that you can use to enhance your marketing strategies, products and business decisions.

Detailed explanation-3: -Step 1: Define the aim of your research Depending on your research questions, you might need to collect quantitative or qualitative data: Quantitative data is expressed in numbers and graphs and is analysed through statistical methods.

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BUSINESS ANALYTICS