Welcome to the next article in a series on data analysis doubts. I’m tackling some of the biggest concerns leaders have about using analytics in their organizations. In this article, I want to address the question, “Will analytics slow down our decision-making?” I’ll also give you a structure for your analytics to get the right
Will Analytics Slow Down Our Decision-Making? Read More
Industry experience is worn like a badge of honor for the business professional. The longer you spend in an industry, the deeper your knowledge of its nuances becomes. You understand the differentiation between key players; have your finger on the pulse of industry regulations; and begin to predict industry trends. With the superpower of your
Enhance Your Industry Experience with Analytics Read More
Whether you are a solopreneur or Apple, you know that analyzing business data is useful for good decision-making. However, even though we keep hearing examples of great analytics, many executives shy away from it. The studies vary in their estimates, but somewhere between 41% and 75% of leaders report substantial challenges using analytics.[1], [2] For
Analytics: The Missing Piece in Your Business Strategy Read More
When you track key performance indicators (KPIs), quality improvement (QI) statistics, or other important analytics, do you have enough statistical power? If you aren’t sure how to answer that question, then this article should be on your MUST READ list. If your analyses lack power, there is a good chance you can’t detect important changes
Statistical Power Made Easy Read More
The question asked most commonly by non-analysts when looking at analytic results is, “Are the results significant?” If the answer is yes, many people assume these are important results, and the analytic punchline should be taken seriously. Fewer people understand what a statistically significant result actually means. In this article, I’ll pull the curtain back
Hypothesis Testing Made Easy Read More
If you have found your way into my little corner of the interwebs, then you are looking to understand analytics better. Understandably, you would prefer not to become a data scientist to achieve that understanding. However, there is one concept you must understand that causes most people to break out in a cold sweat. That’s
A Mostly Harmless Introduction to Probability for Analytics Read More
If you want to learn about analytics, a fundamental skill is how to describe your data. Fortunately, analysts have standard metrics and methods they use to talk about their data. In this article, you’ll learn how to use descriptive statistics to talk about your data. To help organize the material, I’ll divide the discussion into
How to Use Descriptive Statistics to Talk About Your Data Read More
I have taught over a thousand students about research methods and data analysis over the past 26 years. When you teach that many students, you begin to pick up on their common stumbling blocks to learning. And one of the biggest stumbling blocks is understanding the core concept of all analytics: variation. Variation is a
The Core Concept of All Analytics: Variation Read More
I was having coffee the other day with an entrepreneur I respect greatly. We were discussing the challenges of small businesses in using analytics and she struck a chord with one statement. “The small businesses that don’t have the cash flow to use analytics will always struggle with the cash flow to use analytics.” While
Do You Have the Cash Flow for Analytics? Read More
