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Information evaluation and the 4 varieties of questions it makes an attempt to reply
That is a part of a sequence on Strategic Information Evaluation.
Strategic Information Evaluation (Half 1) ← You’re right here?
Strategic Information Evaluation for Descriptive Questions (Half 2) ← Coming quickly!
Strategic Information Evaluation for Diagnostic Questions (Half 3) ← Coming quickly!
Strategic Information Evaluation for Predictive Questions (Half 4) ← Coming quickly!
Strategic Information Evaluation for Prescriptive Questions (Half 5) ← Coming quickly!
In my 10 years of tenure in working with knowledge in any capability, I’ve observed how a lot focus there may be in studying quantitative methods to be able to do knowledge evaluation. I’ve spent hundreds of hours perfecting my data of all the pieces from statistics to machine studying to economics and past. Nevertheless, I discovered little or no steerage within the strategic strategy to answering enterprise questions through the use of knowledge evaluation. I’ve additionally encountered many junior analysts who continuously mistake knowledge evaluation for its quantitative methods, disregarding the truth that evaluation is a strong mind-set and an ideal drawback fixing instrument — i.e. knowledge evaluation is not only a product of its strategies.
On this multi-part sequence, I hope to do a knowledge evaluation primer that can present a structured strategy to utilizing evaluation to be able to reply enterprise questions. In Half 1, I’ll introduce knowledge evaluation and the 4 varieties of questions that it will possibly assist reply. This can be utilized as steerage for figuring out evaluation questions appropriately. Within the following posts, I’ll suggest a technique for answering every sort of query and a strategy for choosing the proper methods. I hope you discover this information helpful — let me know within the feedback!
So what’s knowledge evaluation and what’s it making an attempt to attain? Typically, evaluation is a strategy of understanding some complicated data by breaking it down into smaller and easier items and understanding these items first. This course of is used to assist resolve issues or reply questions. As within the normal case, knowledge evaluation is a strategy of understanding one thing about complicated knowledge by making an attempt to grasp extra manageable details about it.
Analysts can carry out an array of methods to be able to do knowledge evaluation. As an illustration, if we…
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