Which of the following statements is true about data analysis?

The statement that data analysis aims to extract useful information and develop conclusions accurately captures the essence of what data analysis entails. At its core, data analysis is concerned with examining and interpreting data to uncover insights, patterns, and trends that can inform decision-making. This process goes beyond mere data collection; it involves organizing, processing, and analyzing data to transform it into actionable knowledge. By doing so, stakeholders can make evidence-based decisions and improve outcomes based on the insights derived from the data.

The focus of data analysis is not limited to security, specific types of data, or the mere collection of data without simplification, as some other options suggest. Instead, it encompasses a broad range of methodologies and applications across various fields, including finance, healthcare, science, and more, making it a versatile tool for understanding complex information.