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Project Understanding

  • Learn how to define project goals and business requirements in analytics.
  • Problem Statement

    What is a Problem Statement?

    A Problem Statement clearly defines:

    • What problem needs to be solved

    • Why it is important

    • What outcome is expected

    Simple meaning:
    "Hum kya solve kar rahe hain aur kyun?"


    Example 1: E-commerce Project

    ❌ Weak Statement:
    "Analyze sales data."

    ✔ Strong Statement:
    "Identify the factors affecting monthly sales decline and suggest strategies to improve revenue."


    Example 2: Education Project

    "Analyze student performance data to identify factors affecting low exam scores."


    Why Problem Statement is Important?

    ✔ Gives project direction
    ✔ Defines goals clearly
    ✔ Helps select correct data
    ✔ Avoids unnecessary analysis


    SMART Approach

    A good problem statement should be:

    • S – Specific

    • M – Measurable

    • A – Achievable

    • R – Relevant

    • T – Time-bound


    Data Collection

    What is Data Collection?

    Data Collection is the process of gathering data required to solve the problem.

    Without proper data, even the best analysis will fail.


    Types of Data

    Primary Data

    Collected directly from source.

    Examples:

    • Surveys

    • Interviews

    • Questionnaires


    Secondary Data

    Already collected by someone else.

    Examples:

    • Company database

    • Government reports

    • Online datasets


    Data Sources

    Source

    Example

    Database

    Sales records

    CSV/Excel

    Student marks file

    API

    Weather data

    Web Scraping

    Product prices

    Sensors

    IoT devices


    Tools Used for Data Collection

    • MySQL

    • Microsoft Excel

    • Google Forms

    • PostgreSQL

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