Lesson 2: Misconceptions in Data Analysis
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Statistics are all around us every day. Most sources present these statistics as fact, but what do they really mean? Do they give you all the information you need to know?
Consider this: If someone offers to give you 10 percent of the cash in their pocket, is that all the information you want to know? You might follow-up by asking how much money is in the person’s pocket. Usually, one data point or statistics doesn’t give you the full picture of what’s going on.
From reading the news to making decision about large purchases to analyzing trends on the job, having a basic understanding of numbers, data and visualizations can help you to make better, data-driven decisions.
To learn more, watch the lesson on misconceptions in data analysis via YouTube.
Here are some additional examples of how to spot misleading statistics and understand the data behind them.
‘Air Travel Surges 123%’: A Lesson About Misleading Statistics (New York Times)
5 sources of misleading statistics (and how they can jeopardize your company) (GeckoBoard.com Blog)