Data analysis comes at the tail end of the data lifecycle. Directly after or simultaneously performed with data integration (in which data from different sources are pulled into a unified view). Data analysis involves cleaning, modelling, inspecting and visualizing data.
The ultimate goal of data analysis is to provide useful data-driven insights for guiding organizational decisions. And without data analysis, you might as well not even collect data in the first place. Data analysis is the process of turning data into information, insight, or hopefully knowledge of a given domain.