An analyzing method and an analyzing system for manufacturing data are provided. The analyzing method includes the following steps. A plurality of models each of which has a correlation value representing a relationship between at least one of a plurality of factors and a target parameter are provided. The models are screened according to the correlation values. A rank information and a frequency information of the factors are listed up according to the models. The factors are screened according to the rank information and the frequency information. The models are ranked and at least one of the models is selected.