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There are many kinds of analysis methods, starting from the simplest descriptive statistical analysis to slightly more complex DID, PSM, regression, etc. The central idea of these methods can be summarized as: first, find the benchmark, and then compare the difference between the analysis object and the benchmark, After understanding this, the analysis of specific single-point problems will become much easier, and it will be able to respond flexibly to situations where the inherent analysis method cannot be applied in order to effectively analyze the data and get accurate conclusions, you first need to be familiar with various basic analysis methods/routines, and then understand the business.
If the analysis method requires a more logical ability of the analyst, which reflects the ability to solve single-point problems, understanding the business (Business) requires higher comprehensive requirements for the analyst: external understanding of the external market space/environment/players/opponents; Internal ability to carry out business analysis/insight/strategy support, and in order to achieve the purpose of internal analysis, it is further required that analysts have the ability to design indicator systems and basic data product/monitoring system design capabilities the special leads conclusion of the above proposition. This article does not talk about the analysis method or the specific business.
Understanding the business is a long-term and profound proposition, and only by understanding the proposals made by the business can there be a possibility of [practicality]. What it means to understand the business and how analysts view the business is worth a separate article, which will be skipped here for the time being. 3) In order to effectively implement the conclusions/recommendations and obtain commercial benefits, in addition to the practical and feasible recommendations, analysts are also required to have good communication skills according to the difference between the landing method of the conclusion and the role of the business side, analysts may also need to have basic algorithm/model capabilities, data product design capabilities.