CIMA E1 Syllabus C. Data And The Finance Function - Data Analysis and Finance Function - Notes ^{6 / 8}

Finance professionals have an increasingly important role to play in decision making. In particular, their logical skills help to make decisions more scientific and make the organisation more effective.

1. Exploratory data analysis

   It involves finding new relationships or features in a data set.

2. Confirmatory data analysis

   It involves confirming, or disproving a hypothesis.

3. Predictive data analysis

   It involves making forecasts, based on techniques such as statistical modelling.

4. Text data analysis

   It involves extracting and classifying data from textual sources.