Strapi is a CMS that allows businesses to create an online shop with ease. To analyze business performance and revenues, a data analyst can use Strapi's API with the help of python and its data analysis packages. The process involves creating a Strapi project, logging in into the administration dashboard, accessing the shop's API, cleaning and manipulating the data, performing visualizations, and pushing the summary data back to Strapi. The tutorial covers how to get started with Strapi, create collection types, log in into the administration panel, use python libraries such as requests, json, pandas, and plotly to analyze and visualize the data.