For analysis of data, it's twice cast out (10)
I believe the answer is:
statistics
'for analysis' is the definition.
(thesaurus)
'it's twice cast out' is the wordplay.
'it's' becomes ''tis' (I've seen this before).
'twice cast' becomes 'statics' (I am not sure about this - if you are sure you should believe this answer much more).
'out' indicates putting letters inside.
'tis' put into 'statics' is 'STATISTICS'.
'of data' acts as a link.
This may not be right. Some or all of it may belong to another bit of the clue.
(Other definitions for statistics that I've seen before include "Branch of maths" , "results" , "(Study of) quantitative data" , "'20, 16 20, and _____'" .)