In late 2010, Onion prices shot through the roof and causing grave crisis. Apparently the crisis was caused by lack of rainfall in major onion producing region - Maharashtra and Karnataka and led to large scale hoarding by the traders. The crisis caused political tension in the country and described as "a grave concern" by then Prime Minister Manmohan Singh.
"Doing data analysis requires quite a bit of thinking and we believe that when you’ve completed a good data analysis, you’ve spent more time thinking than doing." - Roger Peng
Descriptive - "seeks to summarize a characteristic of a set of data"
Exploratory - "analyze the data to see if there are patterns, trends, or relationships between variables"
(hypothesis generating)
Inferential - "a restatement of this proposed hypothesis as a question and would be answered by analyzing a
different set of data" (hypothesis testing)
Predictive - "determine the impact on one factor based on other factor in a population - to make a prediction"
Causal - "asks whether changing one factor will change another factor in a population - to establish a causal link"
Mechanistic - "establish how the change in one factor results in change in another factor in a population -
to determine the exact mechanism"