My key takeaways from this episode:
What should listeners know about understanding data
- Today data accessibility is more available, the tooling to analyse data is cheaper, and it’s expected of leaders that they make data-informed decisions.
- Yet, although most things are measured, many things are not improved. The challenge is not the data, it’s the decision-making.
- You can torture data enough to get them to admit to anything. The question is how to interpret data correctly and how to factor in human interpretation.
Mentioned Faculty
Oded Netzer
Professor Netzer's expertise centers on one of the major business challenges of the data-rich environment: developing quantitative methods that leverage data to gain a deeper understanding of customer behavior and guide firms' decisions. He focuses primarily on building statistical and econometric models to measure consumer preferences and understand how customer choices change over time, and across contexts. Most notably, he has developed a framework for managing firms' customer bases through dynamic segmentation.