1. Gather Data: Begin by gathering data from the blockchain and creating a dataset. This data can be pulled directly from the blockchain ledger, an API, or a third-party data service.
2. Clean the Data: Process the data and clean it so it is consistent and ready for analysis.
3. Analyse the Data: Use analytics tools to draw insight from the data. Examples include network analysis, predictive modeling, and more.
4. Visualize Results: Visualize the results of the analysis to make them easier to understand and share.
5. Interpret Results: Interpret the results and form conclusions about what the data tells you about the blockchain.