Tuesday, March 31, 2015

The Golden Rules of Analytics

Analytics is the means to end, not the end.

Data Analytics is a golden mine every organization is digging now. However, analytics is both art and science at the same time, perhaps not so many businesses understand these golden rules of analytics, shall you follow them?

  1. Question is more important than answers. Accurately defining the problem is half the game won.
  2. The analysis has to tell a story people understand and is relative to the problem.
  3. Follow the “KISS” Principle: Keep it simple, stupid. The end users must see, understand and follow it. 
  4. Don’t expect automated tools to provide an optimal solution. There is no substitute for an experienced data analyst.
  5. Correlation does not imply causation. Right order of navigation: “Why” precedes “What” precedes “How.”
  6. Fighting for clean and the right data never ends, and understand your data quality and accuracy.
  7. Your model should be as simple as possible, but no simpler.
  8. The continuous learning and improvement is available for all involved in the process from the data collectors to the analysts to the decision makers.
  9. “Not everything that can be counted counts and not everything that counts can be counted.” – Albert Einstein

Digitalization is like a flywheel, and Digital Masters are the one riding above it. Surf more Information about Digital Master:
Digital Master Wikipedia Introduction

Digital Master Kindle Version Book Order URL

Digital Master Book URL

Digital Master Author URL

Digital Master Video Clip on YouTube

Digital Master Fun Quiz


Post a Comment