Data And Gut Instinct ?

Analysts use data driven decision making and follow a step by step process:

• Ask questions and define the problem.

• Prepare data by collecting and storing the information.

• Process data by cleaning and checking the information.

• Analyse data to find patterns, relationships, and trends.

• Share data with your audience.

• Act on the data and use the analysis results.

Why gut instinct can be a problem ?

• Gut instinct is an intuitive understanding of something with little or no explanation.

• At the heart of data driven decision making is data so it's essential to focus on data to make informed decisions.

• If you ignore data and make decisions based on experience and gut then your decisions may be biased or filled with errors.

Importance of understanding data:

• If you understand the given data well it will be easier for you to figure out what  is required.

• It will help you identify errors and gaps in the data so you can communicate with your findings effectively.

• Sometimes past experience may help you make a connection that no one else would notice.

Data + Business Knowledge = Excellence

• Blending data with business knowledge, plus maybe a touch of gut instinct, is a common part of process as an analyst.

• Common questions analysts should ask :

•  How do I define success for this project ?

• What kind of results are needed ?

• Who will be informed ?

• Am I answering the questions being asked ?

• How quickly does a decision need to be made ?

The best strategy is to be more data driven. It is upto you to make the best possible choice. Practice will help you find the perfect blend.