Three New (Old) Reflections on Data and Analytics

The advance of technology is often perceived as the new continually replacing the old, both in terms of products and human expertise. Implicit in this Inc. Trend Watcher piece is the ability of technology to foster mentorship and knowledge transfer between “old school” experience and young talent. (h/t to @RockhillStrat)

Key quote from “NextGen” market researcher Tom Anderson reflecting on the 2011 MRIA Conference: “We need to become more than traditional researchers while retaining the methodological principles which have served us well for many years.” (emphasis mine) These principles are a huge value-add to new wave analytic approaches, but the key is effectively communicating that value.

@joegermuska posted this critique of McKinsey’s health care study with a caution to journalists to be more stats savvy. But the caution is warranted for anyone who interprets and relays data. There is a lot of upside to Big Data, but a lot of potential for misinformation as well. And you don’t necessarily need to be a stats geek to navigate data, but you do need to have a firm grasp of what to look for to make sure your data is saying what you think it’s saying.

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