Data Wisdom Flashcards
What are mental models?
They present a framework to understand the vast amount of data landscape surrounding us
DIKW pyramid
D - Data
I - Information
K- Knowledge
W- Wisdom
Data
Data is the foundation of the pyramid.
Information
Is organised data with context. It reveals a whole another level of the pyramid
Knowledge
Is connecting all the dots of information in order to understand their relationship. Knowledge is information with meaning
Wisdom
Hardest part of the entry pyramid. Transferring knowledge into wisdom requires us to add more meaning to the information at hand and to understand the relationship between each piece of information.
What is decision making?
The process to make the right choices at the right time
The process from data to decision
1 Ask questions
2 Gather data
3 Prepare data
4 Conduct Analysis
5 Make Decisions
Characteristics of a good question
• Outline exactly what you are looking to answer
• Prevent scope creep
• Ensure success throughout the rest of the process
How to collect the right data to answer your question
• Thinking ahead of your analysis
• Finding the correct data source
Steps to prep data for analysis
• Cleaning “bad” data to make it “good”
• Arranging data into expected structure for analysis
List tools that help with data analysis
• Python R
• Tableau Power BI
• Excel Google Sheets
Why do we analyse data?
So we can make better decisions bases on data
Why can data be overwhelming?
Data can be too large when working with it in its raw form
How can aggregation help us?
It translates raw data in ways we can understand
