Data in decision making

Introduction to Data

Joe Franklin

Senior Curriculum Manager at DataCamp

What is decision-making

  • Minor decisions:
    • Low impact
    • Related to routine life
  • Major decisions:
    • High impact
    • Education, residence, financial matters

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Decision making: process to make the right choices at the right time

Man making decision

Introduction to Data

From data to decision

Data in decision making.png

Introduction to Data

Asking the right question

 

A good question will

  • Outline exact what you are looking to answer
  • Prevent scope creep
  • Ensure success throughout the rest of the process

Question mark

Introduction to Data

Collecting data

 

Find the right data for your question

  • Data can live in multiple locations

  • Think ahead to your analysis, you can save time and effort now

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Data collection

Introduction to Data

Preparing data

 

Prepare data for analysis:

  • Clean bad to good data
  • Arrange data into expected structure for analysis
  • Sometimes most time consuming task
    • 80% of time spent on data cleaning

Documents and a broom to illustrate data cleaning

Introduction to Data

Analyzing data

Decisions are based on data analysis

Data analysis tools:

  • Python, R
  • Tableau, Power BI
  • Excel, Google Sheets
  • and many more

Magnifying glass with charts to illustrate analyzing data

Introduction to Data

Making decisions

  • The last step of the data-driven process
  • Better decisions based on data
    • ... especially when combined with personal experiences
  • Iterative process

Person weighing up two choices

Introduction to Data

Let's practice!

Introduction to Data

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