0303 How to Use Data to Solve Practical Problems kaimuji (2)


1. Focus on the application of correlation analysis in real business: 2. When people learn that “there is a close relationship”, they often subconsciously put certain stories on it.One of the easiest stories to accept is causality.It is common in everyday life to put together random pieces of information to make up a plausible story (cause and effect) and then use it to “convince” yourself.This is especially important when conducting objective analysis.3. The result of correlation analysis (correlation coefficient) can be calculated in any situation, but this result is not necessarily caused by “direct” correlation.Especially in the complex business world, there are very few cases that can be explained by a direct one-to-one relationship.4. All data analyses have one thing in common, that is, the range of data used in the analysis will bring about a large difference in the results.5. Outlier refers to the data with a large gap from other data due to some reason.When finding outliers, investigate why the data deviated in the first place.On this basis, if a suitable reason can be found, it can be removed from the object and analyzed again.Chapter 4 devises strategies based on “Equations” And Chapter 5 tells a story with data

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