Exploratory Data Analysis (EDA) evaluates datasets to summarise their essential characteristics, which is frequently accomplished through visual approaches. EDA is used to determine what information may be collected from data before data modelling. It is difficult to look at a column of numbers or an entire spreadsheet and discover the most relevant qualities of the information contained within. It can be tiresome, uninteresting, and intimidating to gain insights from plain data, and it is understandable. To assist in this situation, Exploratory Data Analysis has been developed to be used.
Examples Of EDA In The Industry Of Data Science
So, now it’s time for some examples that will hopefully give you a better understanding of what EDA is all about, what you should be looking for, and what questions you should be attempting to answer.
Example 1: Incomplete information
Anomalies abound when dealing with large amounts of data, One of them is missing some information. Even though the overall data set may be satisfactory, there may be columns inside the data set that contain blank values. This can cause your results to be skewed, and you will not create an accurate model for future usage.
- The “Missing Package Tool” in Python is an excellent tool for graphically identifying missing data, and it may be used to accomplish this.
This is, of course, for a significant amount of data. This provides you with a visual representation of how much information is missing and which variables.
Example 2: Outliers
Outliers are data points that fall on the extreme or even outside the normal range of values for a variable, providing you with a hint or a chance to investigate further.
It is possible to easily spot an outlier, where many clients purchase more than 50 things. An investigation can be initiated, and in many instances, it is discovered that they are resellers. This might be an opportunity to create a business-to-business relationship with the resellers and grow it as a different vertical.
EDA can be fairly extensive and time-consuming, depending on the type of data you have and how much of it there is. Unfortunately, there is no organised approach to performing EDA, although some strategies will provide you with the best outcomes from your EDA efforts. The following are some of the essential outputs of EDA that should be attempted to be obtained from the data:
- Identify outliers and anomalies in your data.
- Analyse the data to determine its quality.
- Determine which statistical models are most suitable for the data.
- Figure out whether the assumptions about data you or your team made at the outset of the project were correct or wildly incorrect.
- Retrieve variables or levels from the data that can be used to pivot the data.
- Decide whether to use univariate versus multivariate analytical tools in your research.
When working with large datasets, it’s essential to perform exploratory data analysis to ensure you have the proper data for the statistical model you’ve chosen. You don’t want to find out later that the data you’re using isn’t a good match for the statistical model you’re trying to develop. Before any data mining, data analysis, or data modelling takes place, a sound EDA must be done.