10 Insights to Strip the Dread from the Data - from Charles Wheelan, columnist for Yahoo!

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NOTE:The following represents ten highlights

from the interview by @MoeAbdou, founder & host of 33voices®.

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CharlesWheelan

Former correspondent for The Economist, current columnist for Yahoo!, and professor at the

Harris School of Public Policy at the University of

Chicago.

33voices.com/Charles-Wheelan

Everything that matters to you

requires data.Reframe how you look at statistics,

it’s a tool.

No.1

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Data is inescapable, and great data is course changing.But, it’s your judgement in the end that makes the biggest difference.

33voices.com/Charles-WheelanNo.3

The certainty about data is that

it doesn’t lie.It’s people who lie and manipulate the numbers.

33voices.com/Charles-WheelanNo.4

Don’t misinterpret statistics that involve the mean and median –

they each have their play, and are situation specific.

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Insurance, for example, is a good idea but a bad bet.

Don’t insure things that you can afford to lose.

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Be aware that controlled experiments on things you care about don’t work –

There’s too much bias.

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Data can be manipulative; especially when it’s consumer related.

Make privacy issues a top priority.

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You can’t manage what you don’t measure –and the more important a metric is,

the more likely it will trigger a change in behavior.

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You can’t manage what you don’t measure –and the more important a metric is,

the more likely it will trigger a change in behavior.

33voicesCharles Wheelan - You can’t manage wha...

33voices.com/Charles-WheelanNo.9

Keep in mind that a very good decision can go wrong –and a risky decision can prove worthy.

33voices.com/Charles-WheelanNo.10

Statistics are a business’ secret weapon, but as consumers, it’s time to take notice that each action that you take is being logged.

Really reflect...

What do your cumulative actions say about you?

Really reflect...

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