The standard definition of EDA is – The process of visualizing and analyzing the data to extract insights and understand the dataset in a better way. EDA is a methodology where we visualize the data using different charts & graphs and they provide an affirmation to our hypothesis. Because your view will remain a conjecture unless it has a firm base. I have used the word ‘conjecture’ and not ‘fact’ intentionally. We often make assumptions about a business and figure out a few conjectures. In data analysis, there is a term – Exploratory data analysis (EDA). A similar industrial revolution is happening in the 21st century because of data and Data Analysis is a key aspect of this revolution. Yes, in the 19th century the industrial revolution happened because of oil. Y ou’ve probably heard “Data is the new oil”. “Torture the data, and it will confess” - Ronald Coase
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