Data Driven Decision Making

-

 From Numbers to Knowledge 


A bird's eye view of the brain with a CPU embedded in it

The demand for data analysts and scientists is hotter than the Caribbean sun! 

And it's not just because we want to make graphs and charts that look fancy. 

No, no, my friend. We need data literacy to survive in the Information Age!


Sure, fight or flight responses helped us dodge deadly predators like marsupial lions and saber-tooth tigers back in the day, but now we must use our brains instead of our instincts. 

We have to know what the numbers are telling us, and we need to ask the right questions to find the answers we seek.

Personally, I've always been a "Why?" kind of person, and it's helped me a lot in my tech career. 

Trust me, annoying your parents and coworkers with that one-word question can be a great strategy for finding answers.

But it's not just about asking questions, we also need to know our field's jargon and what's expected in each area. 

For instance, in machine learning, we use the Mean Squared Error (MSE) to evaluate the performance of regression models. 

The MSE calculates the average of the squared differences between predicted and actual values of the model over a set of test data. 

And the lower the MSE, the better the model is at predicting the target variable.

The average person walking on the street would not know this; hence, they won't be able to make a decision on ways to increase the performance of a regression model. 

With that being said, here are three things to take into consideration when making data driven decisions:

1) Get the Right Data 

If you are thinking about buying a car and you have the option of purchasing an energy-efficient electric vehicle or a traditional gasoline guzzling car, you would collect data on the cost, driving experience and environmental impact of both cars before making a decision. 

Check out my post on Data Collection for further information. 

2) Don't Rely Solely on Your Intuition 

While your gut feelings can be useful in some decision-making scenarios, such as choosing a flavor of ice-cream, when you are making bigger decisions like choosing which gaming console you should buy from Christmas, it is best to approach it rationally. 

You would probably go on Amazon and YouTube for reviews on each product and consider your personal preferences before making your purchase. 

3) Avoid Decision Making Biases 

One of the many biases to avoid is confirmation bias, which involves seeking out information that confirms your preexisting beliefs while ignoring information that contradicts them. 

You can avoid this bias by seeking out alternative viewpoints and carefully evaluating the credibility of your information sources.


Resources



Comments

Post a Comment

Popular posts from this blog

Prompt Engineering : An Introduction

-
Image
  A stereotypical engineer Despite concerns about job changes due to ChatGPT, something interesting is happening: the emergence of a new job title known as the Prompt Engineer . Still skeptical? Take a moment to browse professional platforms like LinkedIn or Indeed—see it for yourself! Now, you might wonder, 'What is Prompt Engineering?' Well, I'll give you a prompt answer (okay, sorry for the pun). Essentially, prompt engineering involves using special words or hints to instruct computers without saying everything explicitly. Think of it like when your mom says, "Bring me my bag from on top of the table." Even if your house has many tables, you know it's not in her car. She assumes you know what her bag looks like, so she doesn't need to describe it. But if she tells you which room to search in, you'd find her bag faster, right? Having said that, here are some tips that can help you write robust prompts: Understand the Task This is where your domain
Read more

Women In STEM : Challenges and Advantages

-
Image
  Women make up only 27% of the STEM workforce. Introduction Being a female in Technology, I can also identify as being a "Woman in STEM" and I can say being part of this group is much different from our male counterparts. When you think of an engineer, the immediate image that comes to mind is often that of a man earning a six-figure salary. Before directing any resentment towards men, it is crucial to pose this question:  "What caused this gender gap in the first place?"  Common Challenges Two terms frequently used to answer this question are stereotypes and gender roles. The stereotypical woman is caring, nurturing, and supportive. She is also expected to stay at home, to cook, clean, and raise children. However, in 2024, being a stay at home mom is rare, with more women actively participating in the workforce, some even serving as the primary breadwinners of their households. But, they are still expected to take on the responsibilities of a stay at home mom, whi
Read more

5 Authentication Methods

-
Image
  This piece of plastic tells people who you are.  The verb authenticate originated from the Latin word authenticus , meaning genuine. Confirming that someone is really who they claim to be has always been a problem that we humans have tried to solve. You see, just because someone says they are Michael Jackson, it doesn't mean they are, because they could also be lying (who doesn't lie to get what they want?) . Before the advent of modern technology, various authentication methods were used to verify the identities of individuals before granting access to resources, from signatures to special passphrases. As a child, I can remember devising specific ways of knocking on the door with my siblings and cousins to confirm each other's identities before granting access to our top-secret room. However, knocking on digital doors requires more robust methods of accessing resources, such as your social media profile or your bank account. Today, I will mention some authentication meth
Read more

Upskilling: Certificates vs. Certifications

-
Image
  Fun Fact: Those LinkedIn courses you do are NOT  certifications. It's performance review time, and I had to differentiate between certificates and certifications for the first time.  As we approached our final pivotal meeting for the fiscal year, I was tasked with presenting the total count of certifications attained by our team throughout the year. Initially, I presumed this to be a straightforward task. I circulated a Microsoft Form among my colleagues, expecting a simple input of numbers.  However, upon aggregating the data, I found the resulting figure to be somewhat inflated. To gain a deeper understanding of this count, I requested my colleagues to provide a list of certifications they had completed. When I looked closely at the names of these "certifications," I found that about one out of every four was actually a certificate. This prompted a need for a clearer definition distinguishing between a certificate and a certification. So, today, I'm going to expla
Read more

Inductive and Deductive Reasoning

-
Image
Reasoning : the action of thinking about something in a logical, sensible way   Earlier this week, a DataCamp course sparked an interesting thought about how we reach conclusions. In data analysis, we ask key questions, gather information, and draw insights from what we find. This happens across many STEM fields. But something I recently noticed is how we actually get to those conclusions – there are two main methods: inductive and deductive reasoning. Let's break it down: Inductive Reasoning:  Imagine you see all your friends going into tech or medicine. Based on this limited view (your friends), you might guess (general conclusion) that young people aren't interested in plumbing careers. However, this might not be entirely true! Deductive Reasoning:  This approach is more like a detective story. We use established facts (like employment data) and analysis tools to reach specific conclusions. For example, we could analyze data over time to see if there's actually been a d
Read more

Don't Be Bland : Spice Up Your Personal Brand

-
Image
   If you don't define your brand, other people will.  In today’s fast-paced digital landscape, personal branding is no longer a luxury; it’s a necessity.  These are the sentiments echoed by Keron Rose on an episode of his podcast, Digipreneur (check out the links below).  Whether you’re an aspiring developer, a seasoned IT professional, or a tech entrepreneur, your personal brand can significantly impact your career trajectory.  But before I get into that, I wanted to touch on a key difference between personal brand and reputation, which was also mentioned on the podcast. Personal Brand  Your personal brand is a deliberately crafted identity that you strategically create for yourself. You have direct control over your personal brand. It’s the image you project intentionally through your online presence, interactions, and content. Building a personal brand allows you to showcase your expertise, values, and unique qualities. It’s an ongoing process that evolves as you grow. Reputat
Read more

3 Common Diseases Associated With Sitting All Day

-
Image
We check our phones every 12 minutes This week I officially became an owner of a smartwatch and I must say that this device has encouraged me to get up and reach my goal of 7500 steps per day more frequently.  However, even before this addition, I've been taking afternoon walks on my own for some time and I do believe that this is a habit that most people can develop. Now, as someone in the field of technology, we often find ourselves spending an unhealthy amount of time glued to screens and seats. Our bodies, with a quarter of our bones chilling in our feet (seriously, go ahead and count!), were clearly designed for more than just staying in one place.  This post serves as your friendly reminder to get up, get moving, and rediscover the joy of not feeling like a human pretzel at the end of the day.  With that being said here are some common diseases associated with sitting all day: Heart disease Sitting for long periods increases your risk of heart disease, the leading cause of de
Read more

Coding Best Practices : Error Messages Are Friends, Not Foes.

-
Image
  This error's name originated from Room 404 At first, I saw error messages as coding villains, ready to ruin my day with red underlines. As soon as I see one, I panic and do everything humanly possible to get rid of it. But now, I view error messages as superheroes here to help me debug my code. The inspiration for this week's post comes from a problem I encountered on the job with code. The Problem Errors were introduced into SQL queries that were needed to generate a crucial report due to updates I made.  However, I didn't know exactly where to start the debugging process, as all the scripts were being executed dynamically.  Whenever one of these queries failed, the entire process would throw a generic error message that did not specify where the error occurred. The brute force approach of combing through dozens of scripts to find a handful of syntactical errors would have been stressful and time-consuming. The Solution Instead of manually looking for the problem, I want
Read more

There Has Been a Data Breach: Now What?

-
Image
  Hacker : a person who uses computers to gain unauthorized access to data. They say that prevention is better than finding a cure, but in the case of the Telecommunication Services of Trinidad and Tobago (TSTT), that is no longer an option.  Six gigabytes of sensitive data are now up for grabs on the dark web (the internet's equivalent of the black market).  From internal administrative credentials to customer names and addresses, you can access it all using The Onion Router (Tor). RansomEXX has successfully bypassed all the controls that were meant to mitigate TSTT's risk of a cyberattack.  I deliberately italicized the word 'controls' since, based on what Alex Samm said in his post on this topic, passwords were not encrypted, and RansomEXX's modus operandi usually involves gaining access through phishing. Now, I'm not saying that TSTT did nothing to prevent this, but storing passwords as plain text in a text file does make me raise my eyebrows. Alex also mad
Read more

Maintenance : A Forgotten Step

-
Image
  Your car is a metallic baby that requires care after you've purchased it. If you're in your 20s, you're likely contemplating getting a car (if you don't already have one). When assessing affordability, you may focus on the vehicle's cost. I recently discussed this with my dad, and he emphasized considering not just the purchase price but also ongoing expenses like gas, insurance, and repairs. After calculating rough estimates and considering my current situation, I have concluded that I do not need a car right now. I am not saying this to deter you from purchasing your dream car, everyone has their reasons behind making any purchase. Today, I want to highlight the "maintenance" aspect of systems. In technology, we often concentrate on the end product—be it an app, a website, or an automated solution. We don't always consider how these products will be maintained after production. When something breaks, chaos and confusion ensues, especially if the o
Read more