From the course: Data Analytics for Business Professionals
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Role of business acumen
From the course: Data Analytics for Business Professionals
Role of business acumen
- Business acumen plays an important role in structuring business data analytics. After all, data doesn't exist in a vacuum, and the context provided by your business clarifies and puts your analyses into perspective. In determining the question, you know what is best for your business and will choose which issue you find the most important to resolve. It's important that you listen to yourself as well as your colleagues when deciding which questions to ask. Business acumen will govern the data process and help you make decisions. It is an underlying theme present in each step of the process, from asking the right question to choosing the right data to explaining the analysis to its end consumer. One caveat: We don't want to assume in advance we know the answer to important data questions based solely on trusting our gut. Good data analysis and business acumen are compliments, not substitutes. When asking business questions, I recommend that you do the following: Frame the question…
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