New Register for Workshop on How to start for NABARD 2025 (Stepwise Plan) - Apr 26, 7 PM

    Question

    In the context of the data analysis process, what is the

    main purpose of the "modeling" stage?
    A To clean and preprocess raw data Correct Answer Incorrect Answer
    B To visualize the data through charts and graphs Correct Answer Incorrect Answer
    C To apply statistical methods to make predictions Correct Answer Incorrect Answer
    D To create dashboards for reporting Correct Answer Incorrect Answer
    E To gather data from various sources Correct Answer Incorrect Answer

    Solution

    The "modeling" stage in the data analysis process refers to the application of statistical, machine learning, or other analytical methods to make predictions or discover patterns in the data. During this phase, analysts typically build models using the cleaned and transformed data, applying techniques like regression analysis, clustering, or decision trees to extract insights or predict future trends. The goal of modeling is to provide actionable insights based on data patterns, which can guide business decisions or strategies. This stage is crucial for developing predictive analytics models or understanding correlations in the data. Option A (To clean and preprocess raw data) is incorrect because cleaning and preprocessing are part of the earlier stages of data analysis. Option B (To visualize the data through charts and graphs) is important for communication but occurs after modeling, not during the modeling phase. Option D (To create dashboards for reporting) is part of the later steps in the data analysis process, primarily after the modeling and interpretation of results. Option E (To gather data from various sources) is part of the "data collection" phase, which happens before modeling.

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