Market Research’s Post

💡 Did you know? Poor data quality costs U.S. businesses a staggering $3 trillion. Research indicates that nearly 40% of business objectives stumble due to inaccurate data, causing substantial revenue loss. Accurate, clean data is the bedrock of insightful analysis. The dilemma? Striking the perfect balance between filtering out anomalies and retaining a robust dataset. ⚖ Delve deeper into the interplay between data quality and quantity of consumer behavior data and discover strategies to navigate this balancing act for data-driven decisions. https://bit.ly/3uC3Qr6 #DataAnalytics #ConsumerBehavior #DataQuality #GeolocationIntelligence #BusinessInsights

Unlock the full potential of your organization's data with these key pillars. Data-driven decisions lead to success and growth. 📊💡

Why are more organisations seeking out alternative data? The real value begins to appear when you collect comprehensive, timely data—both internal and alternative data—to nourish insights. With the right approach, data blossoms into a fertile ground for making informed decisions, empowering businesses to adapt strategically to market conditions, risks, and more.

How about a New Year's Resolution to get your data house in order? Read a brief overview from one of our in-house experts on the topic: https://lnkd.in/eghfCCTW

What Is Qualitative Data? Characteristics & Examples https://lnkd.in/ezpsPNMP

We all hear about the importance of data. Data is only useful if it's accurate and understood, that's where ThroughLine Strategies client RightData comes in! Find out through this self assessment if you have any #dataobservability issues. If you do, reach out to RightData ASAP! #LinkedInConsulting #LinkedInManagement #brandingconsultant

‘Despite popular perception, too much data is not a good thing. Nevertheless, we live in a world ruled by numbers, and there’s an expectation that we can solve our most challenging problems if only we had more data—and perhaps a better way of analyzing it.’ I am a strong advocate of using data in decision making but we should not underestimate the power of intuition in volatile situations and crisis management to fill the gaps. Effective information systems allow us to make informed decisions with the right amount of data by providing a suitable framework to account for the cost of inaction. The problem is that information systems are often perceived just as a tool for data gathering rather than an ecosystem of people/process/systems to enable effective decision making. A very good article, detailing some of the challenges we experienced during COVID because of unsuitable information systems. https://lnkd.in/ecGYqcwm

So true! Make any data set look any way you want to support any predetermined conclusion you want just by manipulating it. You can cherry pick or exclude outliers to alter the overall outcome. Choose a non representative sample population. You can skew the results in any one direction because overfitting, we fit a complex model to the data that captures the noise, not the real pattern in question. Phack, which is testing multiple hypotheses on the same data set. Until you get something that's statistically significant, smooth your data to remove fluctuations in variability but potentially obscure outliers. Important patterns carry out subgroup analysis where it shouldn't, where you report on the findings of the subgroup that fit the conclusion and fail to normalize or adjust for the base rate stereotype and make assumptions or generalizations about individuals or subgroups. Aggregate dissimilar sources of data without adjustment. Change inclusion or exclusion criteria. Use ambiguous or vague language to assign multiple interpretations, to improperly conflate correlation with causation bias survey questions to elicit a desired response press on statistical significance even though it's clinically irrelevant. Of course, you can fabricate data altogether, play with the scale to manipulate visualizations, and make things seem larger or smaller than they really are. I don't want you to misconstrue this video with the notion that there aren't any good studies out there. Rather, I want you to think about the importance of being able to critically appraise the methods and the way the data is analyzed before you share some study to support a belief.

Data is king! Structured, organised, and well governed data is better. Information derived from such data helps in better decision-making and policies. #BlueEconomy #datagovernance #dataprotection #informationsecurity https://lnkd.in/d9cnZZJQ

If you use data in presentations, you should read this article, Top 3 Challenges of Scrutiny of Data. #premiumcontentcreators