This article is a survey of the data analysis methods that have been applied to ultraviolet (UV) and visible molecular absorbance and fluorescence measurements. The section after the Introduction reviews the principles of the most widely used types of absorbance and fluorescence measurements. These include steady‐state, dynamic and multidimensional measurements. After a brief description of absorption and fluorescence instruments, three classes of data analysis methods for molecular absorbance and fluorescence are described: regression methods, decay analysis and matrix factorization methods. Result validation, software alternatives and future developments are discussed in short sections at the end of the article. A short matrix algebra primer is provided as an appendix to the article.