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September 11, 2020How to Take a Measured Approach to Collecting and Leveraging Data
Your first pass at collecting and analyzing data may not be the final result you’re looking for. It’s critical that, like a professional hitter laying off a curveball for a strike to begin an at-bat, you take a measured approach to collecting and leveraging data that allows you to remain open to a better final outcome.
Noted statistician and Chief Decision Scientist at Google Cassie Kozyrkov gives the following advice – focus on decisions, not outcomes to avoid falling into common traps in data utilization. On this episode of Diving into Data, TC Riley, Senior Director of Analytics at MarketSale, explores why taking every result with a grain of salt is the best approach.
When you’re looking to elevate some aspect of your operations with data, keep these core philosophies in mind:
- Don’t Run with the First Outcome
- Focus on Decisions, Not Outcomes
- Consider Additional Variable
- Be Aware of Externalities
- Actively Fight Against Bias
We’ll also get into some quick hits from the sports world, including some interesting analytical tidbits from the MLB, NBA and NFL, which is set to begin play this week. Learn more about making more informed decisions with real-time data.