2. Hello!
I am Vikrant Narayan
Data Analytics enthusiast
You can find me at @vikrant.m.narayan@gmail.com
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3. “ Decision making can sometimes
seem like an inner civil war
- Jim Rohn
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4. Is Data enough?
● Events from the past have shown us that, just
looking into past data and analysing attributes of
data points, do not guaranty success.
● We need to ask ourselves if data and data
analysis is enough to guaranty success of the
model.
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5. Is Data enough?
● The answer to the question is NO.
● There have been instances where similar data
analysis models have been used but the results
of the models have been drastically different.
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7. Et tu, Google?
● Data analytics was used to study the data about
influenza virus and predict future outbreaks.
● The model worked perfectly for a few years
before it eventually failed.
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8. Reliability
● If data analysis does not guaranty success, is it
okay to rely on them in more serious domains
like, say, medicine and law enforcement?
● We find that data is involved in real life decision
making, in spite of all these failures.
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10. Pattern Recognition
● Analysing patterns between successful and
unsuccessful models reveal that the success of
the model depends on the decision making.
● They show that results depend on instinctive
decisions and risk management.
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11. Role of Data
● Data analysis is primarily for breaking up the
data and understanding the data.
● Data might not be preferred to put back the
broken pieces together.
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12.
13. Relevance to managers
● Managers should be able to not just collect data
points and analyse them numerically, but also to
make decisions and take risks for the data analysis to
be succesful.
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