The importance of understanding the data and its effect on growth of a buisness .

1. • Hi.
This is Shourya Simha From Osmania
University.
Computer Science Engineering

2. What is Data Driven?

3. • The data-driven:
• Make decisions at the lowest
possible level
• Bring as much diverse data to any
situation as they possibly can
• Use data to develop a deeper
understanding of their worlds

4. • Develop an appreciation for variation
• Deal reasonably well with uncertainty
• Integrate their ability to understand
data and its implications with their
intuitions

5. • Recognize the importance of high-
quality data and invest to make
improvements
• Conduct good experiments and research
• Recognize that decision criteria can vary
with circumstances

6. • Why do we need to know what
is Data Driven?

7. What is the right way to make
meaning of the data?
• Thomas C. Redman,Proposed an Excercise to
understand the data better and describing the
effective approach for analysis.
• companies that regard themselves as “data-
driven” are measurably more profitable than
those that aren’t.

8. • Companies without a large and
growing cadre of data-savvy
managers are similarly
disadvantaged.
•

9. • While the exercise is very much a how-to,
each step also illustrates an important
concept in analytics — from understanding
variation to visualization.

10. • Lets Get started....

11. • First, start with something that interests,
even bothers, you at work, like
consistently late-starting meetings.
• form it up as a question and write it down:
“Meetings always seem to start
late. Is that really true?”

12. • Write Down all the Data considering the Delay
of the meeting.

13. • Now collect the data. It is critical
that you trust the data. And, as you
go, you’re almost certain to find
gaps in data collection

14. • Sooner than you think, you’ll be
ready to start drawing some
pictures. Good pictures make it
easier for you to both understand
the data and communicate main
points to others.

15. • go-to plot is a time-series plot,
where the horizontal axis has the
date and time and the vertical axis
has the variable of interest.

16. • But don’t stop there. Answer the
“so what?” question.
• this case demands more, as some
analyses do. Get a feel for
variation. Understanding variation
leads to a better feel for the overall
problem, deeper insights, and
novel ideas for improvement

17. • Keep the focus narrow — two
or three questions at most.