Week 2 Recap

This week we talked more about how important communication is between someone seeking analytical help and those data scientists that are providing the information. When a company or firm is looking to require analytical information about a certain topic it is vital for them to make sure their objective is clear to those getting the data. If there is any vagueness or grey area it can be detrimental. This can lead to wrong or unclear data or there could have been a surplus of money spent when it did not have to. A big part of this is the fact that there are steps that should be followed when going through this process. The first aspect is that a question or objective that is clear ad concise must be presented. When we did our ping pong example in class, it was very apparent how one word can completely alter what the final destination is. After this objective/question is proposed now you have to look at what data you are going to need. This is where you analyze the pros and cons or how you are ultimately trying to improve your product/service. Once you decide what information you need now you look at where you are going to go to get that information. This is where internal and external data come into play as well as what metrics you will need to use. Something that I thought was important to take away from this week is that there are vanity and meaningful metrics as well as structured and unstructured data. When it comes to vanity and meaningful metrics, this explains that there are avenues you can take that are more portentous then others and can sometimes be pointless to use. Then there are the meaningful metrics which are the ones that will definitely provide you with the data you need to solve your initial problem. Unstructured data is the kind that can be hard to fid or interpret while strutted data is the opposite. Once you have actually gone out and received this data now it can be interpreted and analyzed in the aspect of whether it has pleased the initial objective. In conclusion this relates to business is an even broader aspect. It is very important for there to be no ambiguity because it can lead to negative or destructive outcomes that do not benefit the company. Many companies already have problems with allocating resources in the wrong places to try and appeal to the wrong metrics. Communication will always be important in every intricate part of a business.

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