Final answer:
The second phase of the data analytics lifecycle includes designing and conducting the study, recording data, interpreting the data using statistical tools, and documenting outcomes and next steps.
Step-by-step explanation:
Steps for the Second Phase of the Data Analytics Lifecycle
The second phase of the data analytics lifecycle involves several integral steps that focus on understanding and interpreting the data collected. After an initial analysis of the problem and identification of the given information, researchers move forward with the following steps:
Designing the study: At this stage, researchers plan how the study will be conducted, determining the methods for data collection.
Conducting the study: Researchers proceed with data collection according to the design they have prepared.
Recording data: All the raw data gathered from the study is carefully recorded for analysis.
Interpreting data: Data scientists interpret the recorded raw data using statistical tools to understand what the data reveals about the hypothesis or research question.
Outlining observations, outcomes, and next steps: Based on the data interpretation, researchers note down observations, determine the outcomes of the study, and plan the subsequent steps, which may include more data collection or further research.
This iterative process may require multiple cycles to draw conclusive results. Essentially, this phase is about making sense of the data and determining whether it supports the hypotheses or answers the research questions posed at the beginning.