The Power of Running Analytics on Incomplete Data – Better Than Guessing In 2022, Sentier published a thought leadership article that started with the admittedly overly simplified statement of “Good data equals good analytics and bad data equals bad analytics.” No one wants to work with bad data, but what qualifies as good data, or more importantly, good enough data? In the world of data-driven decision-making, there's a common misconception that data needs to be pristine and complete before it can be useful. However, waiting for perfect data can lead to missed opportunities for financial growth and strategic planning. Instead, running analytics on imperfect data is often a far better approach than relying on gut feelings or guesswork. Incomplete data occurs more often than we would like. Some examples of data limitations include: • Limited Quantity – New situations such as brand launch or COVID • Sharing Limitations – Data unavailable from copromote teams or other departments such as Medical Affairs • Limited Reporting – Not all payers may report identified sales data or privacy restrictions block a subset of data Despite these data gaps, the show must go on. Stakeholders still want data-driven answers to critical business questions to make the best decisions for the company. Therefore, we must maximize the utility and insights derived from the available data. Some of the effective approaches for overcoming incomplete data include: • Data Augmentation: Using domain knowledge or interpolation, supplement with similar data sources to create proxy data • Synthetic Data Generation: Use techniques like bootstrapping or generative adversarial networks (GANs) to create synthetic data that mimics the properties of the original dataset • Iterative Analytics: As we work to gather additional data, perform analysis iteratively, refining models and methods as more data becomes available. Each iteration will improve the accuracy and relevance of the insights. • Focus on Key Metrics or Segmentations: Focus on analyzing the subset of data that is complete by using techniques like pairwise deletion where only the incomplete cases are excluded from key analyses rather than the entire dataset. Determine if other segmentations are likely to respond in a similar manner. Waiting for perfect data is a luxury that most businesses can't afford. Incomplete data can still point you in the right direction and reduce the risk of significant missteps. Decisions based on partial data are more grounded than those based purely on intuition. Remember, the goal is not to achieve perfection but to make the best possible decisions based upon the data at hand. #sentier #dataanalytics #dataengineer
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🧭Data: A Compass, Not a Map In today’s data-driven world, it’s easy to treat metrics as the ultimate decision-making tool. But have you ever stopped to wonder: is data giving you the full story? Data is incredibly valuable—it shows trends, highlights gaps, and measures progress. Yet, it often answers the “what” while leaving the “why” untouched. For instance, a sudden dip in user engagement might be visible in the numbers, but understanding the reasons behind it requires a broader approach. Here’s the challenge: how often do we balance data analysis with deeper exploration? Are we asking the right questions to uncover the context behind the numbers? Some key lessons emerge when we approach data as a compass rather than a map: 🔹Interpretation Matters: Data points are neutral until we interpret them. A drop in conversion rates might indicate a poor user experience—or a seasonal trend. How often do we challenge our initial assumptions? 🔹Combine Data with Empathy: Metrics can tell us what users are doing, but understanding their motivations comes from empathy. How can we better engage with our audience to uncover their needs? 🔹Iterate with Insights: Instead of seeking perfect answers, what if we treated data as a tool for continuous improvement? Each insight can inform the next step in a dynamic process. The real power of data lies in its ability to guide decision-making, not dictate it. By blending quantitative insights with qualitative understanding, we can navigate complex challenges with clarity and purpose. 💬How do you approach data in your work? Do you rely on it as a guide, or do you dig deeper to uncover the bigger picture?
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𝗤𝘂𝗶𝗰𝗸 𝗪𝗶𝗻𝘀 𝗶𝗻 𝗗𝗮𝘁𝗮 𝗔𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝘀: 𝟯 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝘁𝗼 𝗠𝗮𝗸𝗲 𝗮𝗻 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗜𝗺𝗽𝗮𝗰𝘁 Perhaps the one thing most people should know about data analytics is that to drive value, it doesn't necessarily have to be large datasets or complicated models. In reality, many impactful insights actually drive value from small, actionable improvements. Here are three quick wins any organization can start using today to unlock hidden value in their data. - 𝗜𝗱𝗲𝗻𝘁𝗶𝗳𝘆 𝗮𝗻𝗱 𝗙𝗶𝘅 𝗗𝗮𝘁𝗮 𝗤𝘂𝗮𝗹𝗶𝘁𝘆 𝗜𝘀𝘀𝘂𝗲𝘀 Poor data quality will almost always be in the top list of major things standing in the way of effective analysis. Audit for the more simplistic, common issues such as duplicates, missing values, or out-of-date entries. Simple cleaning steps like these can greatly impact insights and ensure that the decisions their stakeholders make based on the data are valid. - 𝗦𝘁𝗮𝗿𝘁 𝘄𝗶𝘁𝗵 𝗗𝗲𝘀𝗰𝗿𝗶𝗽𝘁𝗶𝘃𝗲 𝗔𝗻𝗮𝗹𝘆𝘁𝗶𝗰𝘀 It is, however, important first to take a closer look at what has already happened before diving deep into predictive modeling. Descriptive analytics-such as tracking trends in monthly revenue, customer churn rates, or product performance-are a very strong fundamental understanding of the business. These insights provide a reality check and set the roadmap for further analysis. - 𝗔𝘂𝘁𝗼𝗺𝗮𝘁𝗲 𝗦𝗶𝗺𝗽𝗹𝗲 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 Too many teams waste hours every week pulling the same reports. Automate regular tasks to free up resources to higher-impact analysis. Using tools like Power BI, Tableau, or even just Excel, reporting is easier since stakeholders need to be informed quickly and accurately. And the best? These approaches don't require big budgets and technical transformations. They are easy steps that, practiced every day, create big, financially impactful results. Have you tried any of these quick wins in your analytics work? Let me know in the comments, or feel free to share your go-to data hacks! #DataAnalytics #QuickWins #BusinessIntelligence #DataDriven
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Curious about the difference between traditional Business Intelligence (BI) and advanced analytics? BI focuses on analyzing past data to understand what happened, often using structured data and simpler methods in tools like Excel. Advanced analytics, however, digs deeper, uncovering trends and forecasting future outcomes—making it invaluable for innovative, forward-looking companies. 𝐁𝐈 𝐯𝐬. 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐝 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬: 𝐖𝐡𝐚𝐭'𝐬 𝐔𝐧𝐢𝐪𝐮𝐞? 📊 𝐏𝐮𝐫𝐩𝐨𝐬𝐞 ↳ 𝐵𝐼: 𝐴𝑛𝑎𝑙𝑦𝑧𝑒𝑠 ℎ𝑖𝑠𝑡𝑜𝑟𝑖𝑐𝑎𝑙 𝑑𝑎𝑡𝑎. ↳ 𝐴𝑑𝑣𝑎𝑛𝑐𝑒𝑑 𝐴𝑛𝑎𝑙𝑦𝑡𝑖𝑐𝑠: 𝑃𝑟𝑒𝑑𝑖𝑐𝑡𝑠 𝑎𝑛𝑑 𝑚𝑜𝑑𝑒𝑙𝑠 𝑓𝑢𝑡𝑢𝑟𝑒 𝑡𝑟𝑒𝑛𝑑𝑠. 📊 𝐀𝐩𝐩𝐫𝐨𝐚𝐜𝐡 ↳ 𝐵𝐼: 𝑅𝑒𝑝𝑒𝑎𝑡𝑎𝑏𝑙𝑒, 𝑠𝑡𝑟𝑢𝑐𝑡𝑢𝑟𝑒𝑑 𝑎𝑛𝑎𝑙𝑦𝑠𝑖𝑠. ↳ 𝐴𝑑𝑣𝑎𝑛𝑐𝑒𝑑 𝐴𝑛𝑎𝑙𝑦𝑡𝑖𝑐𝑠: 𝑇𝑎𝑖𝑙𝑜𝑟𝑒𝑑 𝑎𝑛𝑎𝑙𝑦𝑠𝑒𝑠 𝑏𝑎𝑠𝑒𝑑 𝑜𝑛 𝑐𝑜𝑚𝑝𝑙𝑒𝑥 𝑑𝑎𝑡𝑎 𝑝𝑎𝑡𝑡𝑒𝑟𝑛𝑠. 📊 𝐃𝐚𝐭𝐚 𝐔𝐬𝐞𝐝 ↳ 𝐵𝐼: 𝑃𝑟𝑖𝑚𝑎𝑟𝑖𝑙𝑦 𝑠𝑡𝑟𝑢𝑐𝑡𝑢𝑟𝑒𝑑 𝑑𝑎𝑡𝑎. ↳ 𝐴𝑑𝑣𝑎𝑛𝑐𝑒𝑑 𝐴𝑛𝑎𝑙𝑦𝑡𝑖𝑐𝑠: 𝐵𝑜𝑡ℎ 𝑠𝑡𝑟𝑢𝑐𝑡𝑢𝑟𝑒𝑑 𝑎𝑛𝑑 𝑢𝑛𝑠𝑡𝑟𝑢𝑐𝑡𝑢𝑟𝑒𝑑 𝑑𝑎𝑡𝑎, 𝑙𝑖𝑘𝑒 𝑠𝑜𝑐𝑖𝑎𝑙 𝑚𝑒𝑑𝑖𝑎 𝑖𝑛𝑠𝑖𝑔ℎ𝑡𝑠. 📊 𝐓𝐞𝐜𝐡𝐧𝐢𝐪𝐮𝐞𝐬 ↳ 𝐵𝐼: 𝐴𝑔𝑔𝑟𝑒𝑔𝑎𝑡𝑒𝑠 𝑑𝑎𝑡𝑎 𝑠𝑖𝑚𝑝𝑙𝑦. ↳ 𝐴𝑑𝑣𝑎𝑛𝑐𝑒𝑑 𝐴𝑛𝑎𝑙𝑦𝑡𝑖𝑐𝑠: 𝐴𝑝𝑝𝑙𝑖𝑒𝑠 𝑞𝑢𝑎𝑛𝑡𝑖𝑡𝑎𝑡𝑖𝑣𝑒 𝑚𝑜𝑑𝑒𝑙𝑖𝑛𝑔. 📊 𝐓𝐨𝐨𝐥𝐬 ↳ 𝐵𝐼: 𝐸𝑥𝑐𝑒𝑙. ↳ 𝐴𝑑𝑣𝑎𝑛𝑐𝑒𝑑 𝐴𝑛𝑎𝑙𝑦𝑡𝑖𝑐𝑠: 𝑃𝑜𝑤𝑒𝑟 𝐵𝐼, 𝑇𝑎𝑏𝑙𝑒𝑎𝑢, 𝐵𝑖𝐺 𝐸𝑉𝐴𝐿. 🚀 Elevate your data quality with BiG EVAL’s advanced data testing solutions—an essential step in data-driven decision-making. Follow us for more insights! #Data #DataTesting #BusinessIntelligence
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📊 Unleashing the Power of Data Analytics: Driving Insights and Decisions! 📊 Embark on a journey into the realm of data analytics and discover how organizations harness the power of data to drive informed decisions and gain valuable insights. Exploring the World of Data Analytics: Data analytics empowers organizations to extract actionable insights from vast datasets, enabling informed decision-making and strategic planning. Let's delve into the core concepts and applications of data analytics in today's digital landscape. #DataAnalytics #BusinessInsights #DecisionMaking Key Components of Data Analytics: 1. Data Collection and Cleaning: The first step in the data analytics process involves gathering relevant data from various sources and ensuring its accuracy and consistency through data cleaning and preprocessing techniques. #DataCollection #DataCleaning #Preprocessing 2. Exploratory Data Analysis (EDA): EDA techniques uncover patterns, trends, and relationships within the data through visualizations and statistical methods, providing initial insights and guiding further analysis. #EDA #DataVisualization #StatisticalAnalysis 3. Statistical Modeling and Machine Learning: Advanced statistical modeling and machine learning algorithms enable predictive analytics, classification, clustering, and other sophisticated analyses to derive actionable insights and drive strategic decision-making. #StatisticalModeling #MachineLearning #PredictiveAnalytics Applications Across Industries: 1. Business Intelligence: Data analytics fuels business intelligence initiatives, providing organizations with a comprehensive view of their operations, customer behavior, market trends, and competitive landscape to drive growth and innovation. #BusinessIntelligence #MarketInsights #CompetitiveAnalysis 2. Healthcare Analytics: In the healthcare sector, data analytics plays a vital role in improving patient outcomes, optimizing resource allocation, identifying disease patterns, and enhancing operational efficiency across healthcare facilities. #HealthcareAnalytics #PatientOutcomes #OperationalEfficiency 3. Financial Analytics: Financial institutions leverage data analytics to mitigate risks, detect fraudulent activities, optimize investment strategies, and enhance customer experience through personalized financial services. #FinancialAnalytics #RiskManagement #FraudDetection Join the Data Revolution: Are you passionate about leveraging data analytics to drive insights and innovation? Share your experiences, insights, or questions in the comments below! Let's connect and exchange ideas to unlock the full potential of data analytics in our organizations. 💡 #DataRevolution #AnalyticsCommunity #DataDrivenInnovation
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Continuing to previous post.... Types of Data: Not all data is created equal. Here's a basic classification: Structured Data: This is highly organized data that fits neatly into rows and columns, like data in a spreadsheet (e.g., customer names, sales figures). Unstructured Data: This is data that doesn't have a predefined format, like text in emails, social media posts, or images. It requires additional processing to extract insights. Semi-structured Data: This data sits between structured and unstructured. It has some organization but doesn't conform to a strict format, like data in emails with standard headers but free-flowing text in the body. ----------------------------------------------------------------------------- The Data Lifecycle: Data doesn't magically transform into insights. It goes through a lifecycle with several stages: Data Acquisition: This is where you collect data from various sources, like internal databases, customer surveys,or social media platforms. Data Preparation: Raw data often needs cleaning, organizing, and formatting before it can be analyzed. This might involve removing duplicates, correcting errors, and transforming data into a usable format. Data Analysis: This is where the magic happens – using statistical techniques, machine learning algorithms, and data visualization tools to uncover patterns and trends within the data. Data Insights: Once you've analyzed the data, you need to translate the findings into actionable insights that can be understood by stakeholders who may not be data experts. Data Action: Finally, the insights need to be put into action. This could involve making changes to marketing campaigns, optimizing product features, or developing new strategies based on the data-driven insights. #dataanalytics #dataanalysis #businessintelligence #datascience #bigdata #datadriven #analytics #datavisualization #datamining #machinelearning #artificialintelligence #datagovernance #dataprep #decisionmaking #efficiency #businesstransformation #customerinsights #competitiveadvantage #structureddata #unstructureddata #semistructureddata #dataacquisition #datapreparation #datainsights
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🔍 Exploring the Essence of Data in Data Analysis 🔍 As data analysts, we're in the business of uncovering insights, making informed decisions, and driving meaningful outcomes. But at the heart of it all lies a fundamental question: what exactly is data, and why does it matter? Data, in the realm of data analysis, is the lifeblood of our profession. It encompasses a wide array of information—numbers, text, images, and more—that provides us with a window into the world around us. From customer transactions to website interactions, data is the digital footprint of human behavior and organizational operations. But data is more than just bits and bytes; it's the foundation upon which we build our analytical endeavors. It serves as the raw material from which we extract insights, identify trends, and make predictions. Without data, our analytical efforts would be akin to navigating in the dark—we'd lack the empirical evidence needed to guide our decisions and strategies. So why is data so important in data analysis? The answer lies in its transformative potential. By harnessing the power of data, we can unlock actionable insights that drive business growth, optimize processes, and enhance decision-making. Whether it's identifying opportunities for cost savings, predicting customer preferences, or mitigating risks, data empowers us to make smarter, more informed choices. But perhaps most importantly, data fosters a culture of curiosity and continuous improvement. As data analysts, we're not just passive observers; we're active participants in the quest for knowledge and understanding. Each data point represents an opportunity to learn, to explore, and to innovate—to push the boundaries of what's possible and pave the way for a brighter, more data-driven future. In conclusion, data is more than just a collection of numbers—it's the cornerstone of data analysis, the fuel that powers our insights, and the catalyst for positive change. So let's embrace the power of data, harness its potential, and continue to unlock new possibilities in the world of analytics. #data #dataanalyst #analytics #datavisulzation #datadriven
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Excited to share insights on crafting a robust Data Analytics Strategy! In today's data-driven world, businesses are increasingly relying on data analytics to gain valuable insights, make informed decisions, and drive growth. Here are key considerations for developing an effective Data Analytics Strategy: 1️⃣ Define Clear Objectives: Start by aligning data analytics initiatives with your business goals. Whether it's optimizing operations, improving customer experience, or driving innovation, clarity on objectives ensures focused and impactful analytics efforts. 2️⃣ Assess Data Needs and Capabilities: Evaluate your current data landscape—what data sources are available, what data quality issues exist, and what infrastructure is in place? Understanding these factors is crucial for designing an effective data collection and management strategy. 3️⃣ Choose the Right Tools and Technologies: Select analytics tools and platforms that align with your business needs and technical capabilities. Whether it's traditional BI tools, advanced analytics platforms, or cloud-based solutions, ensure they support scalability and integration with existing systems. 4️⃣ Build a Skilled Team: Invest in a team with diverse skills—from data engineers and analysts to data scientists and visualization experts. Collaboration across disciplines enhances the ability to extract meaningful insights and drive actionable outcomes. 5️⃣ Implement Data Governance: Establish clear policies and processes for data governance, including data privacy, security, and compliance. A robust governance framework ensures data integrity, confidentiality, and ethical use. 6️⃣ Iterate and Innovate: Data analytics is iterative. Continuously evaluate and refine your strategies based on insights and feedback. Embrace innovation by exploring new technologies (e.g., AI and machine learning) to uncover deeper insights and opportunities. 7️⃣ Measure Success: Define metrics and KPIs to track the effectiveness of your data analytics initiatives. Regularly assess performance against these benchmarks to demonstrate ROI and inform future strategy adjustments. A well-crafted Data Analytics Strategy not only enhances decision-making but also drives competitive advantage in today's dynamic business environment. Let's harness the power of data to propel growth and innovation! #DataAnalytics #BusinessStrategy #DataDriven #AnalyticsStrategy #BusinessInsights #Innovation #DigitalTransformation
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📈 𝗗𝗮𝘁𝗮 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀: 𝗨𝗻𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗔𝗴𝗲 📈 In today's data-driven world, the ability to extract meaningful insights from vast amounts of information has become a crucial competitive advantage. Data analysis is the key to transforming raw data into actionable intelligence that can drive better decision-making and fuel business growth. ⭕ 𝗪𝗵𝘆 𝗗𝗮𝘁𝗮 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀 𝘐𝘯𝘧𝘰𝘳𝘮𝘦𝘥 𝘋𝘦𝘤𝘪𝘴𝘪𝘰𝘯 𝘔𝘢𝘬𝘪𝘯𝘨: By analyzing trends, patterns, and correlations in data, businesses can make more accurate predictions and strategic choices. 𝘐𝘮𝘱𝘳𝘰𝘷𝘦𝘥 𝘌𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘤𝘺: Identifying bottlenecks and inefficiencies through data analysis allows organizations to streamline operations and reduce costs. 𝘊𝘶𝘴𝘵𝘰𝘮𝘦𝘳 𝘜𝘯𝘥𝘦𝘳𝘴𝘵𝘢𝘯𝘥𝘪𝘯𝘨: Analyzing customer data helps businesses tailor products, services, and marketing efforts to meet specific needs and preferences. ⭕ 𝗥𝗶𝘀𝗸 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 Data analysis enables better risk assessment and mitigation strategies across various business functions. Innovation: Uncovering hidden patterns in data can spark new ideas and drive innovation in products, services, and business models. ⭕ 𝗞𝗲𝘆 𝗦𝘁𝗲𝗽𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗗𝗮𝘁𝗮 𝗔𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗣𝗿𝗼𝗰𝗲𝘀𝘀 𝘋𝘦𝘧𝘪𝘯𝘦 𝘖𝘣𝘫𝘦𝘤𝘵𝘪𝘷𝘦𝘴: Clearly outline the questions you want to answer or problems you aim to solve. 𝘊𝘰𝘭𝘭𝘦𝘤𝘵 𝘋𝘢𝘵𝘢: Gather relevant data from various sources, ensuring data quality and integrity. 𝘊𝘭𝘦𝘢𝘯 𝘢𝘯𝘥 𝘗𝘳𝘦𝘱𝘢𝘳𝘦: Remove errors, handle missing values, and format data for analysis. 𝘌𝘹𝘱𝘭𝘰𝘳𝘦 𝘢𝘯𝘥 𝘝𝘪𝘴𝘶𝘢𝘭𝘪𝘻𝘦: Use statistical techniques and data visualization tools to uncover patterns and relationships. 𝘈𝘯𝘢𝘭𝘺𝘻𝘦: Apply appropriate analytical methods, from simple descriptive statistics to advanced machine learning algorithms. 𝘐𝘯𝘵𝘦𝘳𝘱𝘳𝘦𝘵 𝘙𝘦𝘴𝘶𝘭𝘵𝘴: Draw meaningful conclusions and actionable insights from the analysis. 𝘊𝘰𝘮𝘮𝘶𝘯𝘪𝘤𝘢𝘵𝘦 𝘍𝘪𝘯𝘥𝘪𝘯𝘨𝘴: Present results clearly to stakeholders, using compelling visualizations and narratives. As businesses continue to generate and collect more data, the demand for skilled data analysts and data-driven decision-making will only grow. By mastering data analysis techniques and tools, professionals can position themselves at the forefront of this exciting and rapidly evolving field. Are you leveraging the power of data analysis in your organization? Share your experiences and insights in the comments below! #DataAnalysis #BusinessIntelligence #DecisionMaking #DataDriven
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📈 𝐖𝐢𝐭𝐡𝐨𝐮𝐭 𝐝𝐚𝐭𝐚 𝐭𝐨 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐲𝐨𝐮𝐫 𝐚𝐫𝐠𝐮𝐦𝐞𝐧𝐭, 𝐡𝐨𝐰 𝐝𝐨 𝐲𝐨𝐮 𝐞𝐯𝐞𝐧 𝐤𝐧𝐨𝐰 𝐰𝐡𝐚𝐭 𝐲𝐨𝐮 𝐭𝐡𝐢𝐧𝐤...? 🤔 📌 Over the 30 years I have been involved across the data chain (BI, Insight & Analytics) in various sectors and organisations, I have consistently been surprised by why 'Data Informed Decision Making' is not always a must have, core strategic concept. 📌 For sure, there are many, many challenges: data collection, data quality, data literacy, data access, systems, capability, resources, etc. 😢 🎯 However, I think one of the key issues is often a 'Fire - Aim - Load' approach (think about it! 😃). It's so easy to get caught up with 'shiny things' - e.g. AI, Advanced Analytics, even the word 'Insight'. 🎯 The foundation of being a Data Informed organisation has 𝐠𝐨𝐭 𝐭𝐨 𝐬𝐭𝐚𝐫𝐭 𝐰𝐢𝐭𝐡 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐰𝐡𝐚𝐭'𝐬 𝐢𝐦𝐩𝐨𝐫𝐭𝐚𝐧𝐭 𝐭𝐨 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬, 𝐰𝐡𝐚𝐭 𝐝𝐨 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐦𝐞𝐚𝐬𝐮𝐫𝐞, 𝐭𝐨 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 & 𝐭𝐫𝐚𝐜𝐤? This can seem boring & mundane - but it's vital. 🎯 Time needs to be given to agreeing Key Indicators - at a strategic & operational level. 𝐓𝐡𝐢𝐬 𝐢𝐧𝐯𝐨𝐥𝐯𝐞𝐬 𝐭𝐡𝐞 𝐡𝐚𝐫𝐝 𝐲𝐚𝐫𝐝𝐬 𝐨𝐟 𝐚𝐠𝐫𝐞𝐞𝐢𝐧𝐠 𝐚𝐧𝐝 𝐝𝐨𝐜𝐮𝐦𝐞𝐧𝐭𝐢𝐧𝐠 𝐝𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧𝐬. So when an organisation reports on any given metric, everyone knows what that metrics is, there are no other reports using that same metric name giving a different number, and people trust that number. 🎯 It is certainly true that "without data you are just another person with an opinion". However, with conflicting data and numbers, we have something that may well be even worse: 𝒑𝒆𝒐𝒑𝒍𝒆 𝒘𝒊𝒕𝒉 𝒅𝒂𝒕𝒂 𝒂𝒏𝒅 𝒂𝒏 𝒐𝒑𝒊𝒏𝒊𝒐𝒏 - 𝒊𝒕'𝒔 𝒋𝒖𝒔𝒕 𝒅𝒊𝒇𝒇𝒆𝒓𝒆𝒏𝒕 𝒅𝒂𝒕𝒂, 𝒘𝒉𝒊𝒄𝒉 𝒄𝒂𝒏 𝒄𝒂𝒖𝒔𝒆 𝒄𝒉𝒂𝒐𝒔 𝒂𝒏𝒅 𝒄𝒐𝒏𝒇𝒖𝒔𝒊𝒐𝒏! As the wise man (Francis Bacon) said: “𝐓𝐫𝐮𝐭𝐡 𝐞𝐦𝐞𝐫𝐠𝐞𝐬 𝐦𝐨𝐫𝐞 𝐫𝐞𝐚𝐝𝐢𝐥𝐲 𝐟𝐫𝐨𝐦 𝐞𝐫𝐫𝐨𝐫 𝐭𝐡𝐚𝐧 𝐟𝐫𝐨𝐦 𝐜𝐨𝐧𝐟𝐮𝐬𝐢𝐨𝐧.”
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🧹The Power of Cleaned Data: Why Data Cleaning is Crucial🧹 In the realm of data analytics, cleaned data is the cornerstone of accurate insights and informed decision-making. Yet, it’s typically a neglected stage in the analysis process. Here’s why data cleaning should be at the top of your priority list: 1. Accuracy Matters: Uncleaned data—filled with duplicates, missing numbers, or errors—can lead to incorrect findings. Cleaning your data guarantees that the insights you derive are dependable and correct. 2. Efficiency in Analysis: Cleaned data streamlines the analytical process. When your dataset is free from errors, inconsistencies, and redundancies, you can focus on generating insights rather than wasting time troubleshooting difficulties. 3. Enhanced Decision-Making: Decisions based on clean data are considerably more likely to lead to effective outcomes. Whether you’re optimizing marketing efforts, increasing customer experience, or projecting trends, cleaned data provides a solid platform for effective decision-making. 4. Improved Visualizations: Data visualizations are only as good as the data they represent. Cleaned data leads to clearer, more effective visualizations that can be easily understood and shared with stakeholders. 5. Compliance and Chance Management: Cleaned data helps firms stay compliant with rules and decreases the chance of errors that could lead to financial or reputational damage. 🔧Key Steps in Data Cleaning: -Remove Duplicates: Ensure each record is unique to avoid skewing your research. -Handle Missing Data: Decide whether to fill in, omit, or interpolate missing values based on the context. -Standardize Formats: Ensure consistency in data formats (e.g., dates, currencies, text). -Rectify Errors: Identify and rectify inconsistencies in your dataset. Remember, quality data is important to reveal meaningful insights. Invest time in cleaning your data—it’s a step you can’t afford to omit! If you found this post valuable, share it with your network to help others discover these critical tools! #DataCleaning #DataQuality #DataAnalysis #DataScience #DataManagement #Analytics
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