Here’s what Wharton data analysis experts say:
AI & ANALYTICS ADVISORY BOARD MEMBER SAKAAD JAFFER SAYS THAT DATA MAY NOT SHOW UP ON THE BALANCE SHEET, BUT IT CAN DRIVE REAL VALUE — OR RISK. He states that businesses must “Establish a routine process to inventory your data, verify its quality, and standardize definitions. When everyone works from the same facts, you prevent time-wasting debates over the numbers and keep decision making focused on the real issues.” (Source)
DATA ANALYSIS IN A STUDY FROM DUNCAN WATTS SUGGESTS THAT TV NEWS IS A LARGER DRIVER OF ECHO CHAMBERS THAN THE INTERNET. Watts notes that, “If you think about where people are getting their news, it’s five to one from TV versus online,” (Source)
STEFANO PUNTONI AND BART DE LANGHE SAY THAT CRAFTING THE RIGHT QUESTIONS IS AN ESSENTIAL AND FOUNDATIONAL STEP IN THE DATA-ANALYSIS PROCESS. They hone in on decision-driven analytics, which “puts decision-makers at the center, resolving the common mismatch between analytics and actual business decisions. It starts from the decision that needs to be made and works backward toward the data that is needed.”
They go on to say, “This approach highlights the strategic importance of what we don’t know, underscoring the importance of intellectual humility. In fact, crafting the right questions is an essential and foundational step in the data-analysis process.” (Source)
