28 Sep 5 Mistakes To Avoid When Analyzing Data
If you have ever been in a dark room trying to feel your way around, and someone turns on the light, then you can relate to what insights discovery does for a decision maker. Good insights is to a decision maker what a compass is to an explorer. If insights are so awesome in “lightning up” your decision making path, you may ask, “How come many people don’t profit from it?” Good question. It turns out that drawing insights, even from good data can be subject to many errors and biases. The good news is that once you know these biases, you can be careful to avoid them, thereby drawing profitable insights from data.
Biases You Need To Avoid
Correlation is not Causation
Illusion of Validity
I must confess, even after considerable expereince with analyzing data, I still get blinded by theses biases sometimes. It takes effort and increased awareness to get rid of the biases and analyze with clarity. The only way is to practice practice practice !