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Alberto Cairo, datavisualization expert and author of How Charts Lie Whether you are reading a social post, news article or business report, it’s important to know and evaluate the source of the data and charts that you view. There are different chart types appropriate for the type of data being presented.
Your data may hold tremendous amounts of potential value , but not an ounce of value can be created unless insights are uncovered and translated into actions or business outcomes. Datavisualization expert Stephen Few said, “Numbers have an important story to tell. The post Data storytelling pt.1:
Similarly, all of the rich datavisualizations and intelligence built into today’s self-service analytics tools can be negated by a simple deficiency in data literacy, which can be defined as the ability to understand, use and communicate data effectively. How valuable would it be to someone who is illiterate?
Experts say that BI and data analytics makes the decision-making process 5x times faster for businesses. Renowned author Bernard Marr wrote an insightful article about Shell’s journey to become a fully data-driven company. This company was originally founded in 2009 as a black car-hailing service in San Francisco.
“In a perfect world, investors, board members, and executives would have full confidence in companies’ financial statements… Unfortunately, that’s not what happens in the real world, for several reasons.” – Where Financial Reporting Still Falls Short , The Harvard Business Review article. Just before it was acquired by the U.S.
A 2009 investigative survey by Dr. Daniele Fanelli from The University of Edinburgh found that 33.7% of scientists surveyed admitted to questionable research practices, including modifying results to improve outcomes, subjective data interpretation, withholding analytical details, and dropping observations because of gut feelings….
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