6. ANALYTICS AND TV SHOWS
▸ Netflix and Amazon are data-dependent sites
▸ They need to put only the best shows on their
channels out of thousands
▸ Data dependent
▸ Based on data from user ratings they put the
best shows on their websites
8. Data Analysis does
not always produce
optimum results
TWO KEY INSIGHTS
Data Analysis is
only suited for
taking a problem
apart and
understanding it.
9. OPTIMAL SOLUTION
▸ Data analysis does not always produce optimum results
▸ Sometimes the data can mislead into making the wrong
choice
▸ Faulty data can often make the analysis useless
10. UNDERSTANDING
THE PROBLEM
▸ Data analysis is suited
for understanding the
problem
▸ It does not help bring
out the conclusion
▸ It depends upon us to
come to the right
conclusion
13. RELYING ON DATA
● Managers should not rely too much on data
● They should understand the extent of usefulness of
data
● Too much reliance on data can lead to wrong
decision making
14. UNDERSTANDING THE
PROBLEM
● The tools of data analysis should be used to understand
the problem
● Data helps to break down a problem and understand it
● But data does not help bring the different solutions
together
● Managers come into play at this point
● Managers should use their domain knowledge to come
to the proper conclusions
15. CLOSING OFF
Data analysis is a powerful tool of the 21st century. We are
becoming more and more data dependent. With that we
should also realise the extent to which data takes us to the
solution. Data does not give us the solution to a problem.
But it helps us understand the problem. It fall upon us to
draw the right conclusion