What is the term for the process of closely examining data to reveal new insights?

The process of closely examining data to reveal new insights is best termed as Exploratory Data Analysis (EDA). EDA involves techniques and strategies to analyze data sets, summarizing their main characteristics often using visual methods. By applying EDA, data scientists can discover patterns, spot anomalies, identify trends, and check assumptions. It serves as a fundamental step in the data analysis process, laying the groundwork for further data modeling or predictive analysis.

Data visualization is a specific technique used within EDA to represent data graphically, which aids in understanding the data better, but it does not encompass the entire process of examining data for insights. Data wrangling refers to the cleaning, restructuring, and enriching of raw data into a usable format, but it does not specifically focus on extraction of insights. Data mining involves exploring large datasets to uncover patterns and relationships for predictive purposes, which is more focused on discovering actionable patterns than on the exploratory aspect itself. Thus, Exploratory Data Analysis is the most accurate term for the process of closely examining data to yield new insights.