Big data has become a very popular buzzword in the business world. Tons of articles talk about how big data can influence your business decisions and lead to new insights, but how do you interpret your big data? Statistics are notorious for being manipulatable, and raw numbers can be hard to make heads or tails of.
Before data can be utilized to improve a business, healthcare, or science, it needs to be interpreted. As with any scientific experiment, after the data is collected, that information needs to be processed and analyzed. This allows mistakes to be identified, outliers to be examined and discredited, and decisions to be made about how useful the information is.
Where Is The Data Coming From?
Before you even start to interpret the data, you need to determine the sources of the data. Big data can be about any number of subjects, like consumer behaviors, the efficiency of machines, weather patterns, and crime statistics.
Interpreting that data starts with a strong understanding of its subjects and the tactics used to gather it. If there is a bunch of data about consumer online shopping patterns, but all of the information is from one website, then the data can’t be trusted as all …