data

Keep Calm and Treat Outliers with Care

Keep Calm and Treat Outliers with Care

Outliers -- observations that are few in number but disproportionately affect your analysis -- can create headaches when we face time pressure to make decisions. Maybe it’s the lone beta tester who gives you brutal feedback about a product feature that you no longer have time to change. Or maybe it’s the tiny new cluster of data points that make your pretty financial model all of sudden look hideous. Whatever form they take, outlier observations force us to make critical decisions about how much we should weigh their significance...

Not a Data Scientist? You Can Still Be Data Savvy

Not a Data Scientist? You Can Still Be Data Savvy

One of the things I’ve found most surprising over the years is how little understanding most employees have of their company’s own data. Forget about having enough data scientists, most of the companies I’ve come across have shockingly few people who are capable of analyzing their data in the most basic ways. For instance, I recently spoke at length with a marketing manager at a major hotel group who confided that, “maybe two or three people in the company,” understood the business and the internal systems well enough to analyze the company’s raw (i.e. non-aggregated) booking and sales data...