1-Gathering and Organizing Your Data
Having identified the types of data you will need, it’s time to gather, review, and organize your data. This is a critical step in preparing to demonstrate to your Board of Directors that there is a legitimate demand for a solution to the problem you want to solve or the opportunity you want to explore.
In your post, answer the following questions:
- What sources did you use to gather your data, and why did you use these?
- What impact will any gaps in your data have on the validity of your analysis? How will you address this?
- How should you organize your data so that important patterns, trends and anomalies are clearly visible?
- Which analytical method (Descriptive, Predictive, or Prescriptive – see Davenport & Kim pp. 3-5) did you use to assess your data? Why did you choose this method over others?
2-Turning Data into Information
Having framed the problem/opportunity, formulated a testable hypothesis and gathered and organized key data, you are ready to continue your analysis by developing a data story that can be shared with others. To get started, download and review the “Types of Data Analysis” guide from our Week 4 readings, above.
- Apply one or more of the following analytical tools to your dataset:
- Grouping and Visualization
- Standard Deviation
- Explain whether your analysis of the data confirmed or refuted your testable hypothesis.
3-Refining Your Data Story
To deliver an effective Board Brief and presentation, you will need to display your data to decision makers in a way that is easy to understand. Respond to the prompts below:
- What are the most critical elements of your data story that need to be communicated? Explain.
- How will you organize and share your data so that it tells a clear and compelling story? (See p. 107 of Davenport & Kim for a list of types of visual graphics used to present data)
- Select two data display techniques discussed by Duarte in Chapter 6 and/or Chapter 7 and use them to present two important data sets from your analysis.