Univariate Analysis

Univariate Analysis is a type of data analysis that looks at only one variable at a time. In business intelligence and data analytics, this method is used to describe and summarize the data, and find patterns that might not be evident at first glance. When you hear “univariate,” think “uni” like “unicycle,” which means it’s all about focusing on one thing.

For instance, a company might use univariate analysis to look at sales numbers for a particular product over the course of a year. They could use this analysis to find out the average number of sales per month, which months had the highest and lowest sales, or how the sales numbers vary from month to month. This kind of insight helps businesses understand the overall performance and trends related to just that one product.

Univariate analysis doesn’t involve relationships between different variables, so it’s not about cause and effect or comparing two different things. Instead, it’s a useful first step in data analysis that can shed light on each variable’s individual characteristics. By understanding each part of the data this way, a business can make better-informed decisions, ensuring they focus on the right areas to improve performance and growth.