From the course: How to Think Like a Statistician
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A balanced approach
From the course: How to Think Like a Statistician
A balanced approach
- What is the value of qualitative feedback? It's the yin and the yang. Quantitative analysis can answer life changing, societal changing questions. But there is a problem with statistics and numbers. Often you only get correlation smack, you get association smack, but you don't know what is causing what, is Y causing X or is X causing Y, are they causing each other? So if you want to make a decision around that, you need to know what is the cause or interpretation of this kind of data, of this relationship. And that is where statistics often can't give you a direct answer, and that's where the qualitative information that you have access to becomes really important. Your understanding of how people behave, how organizations behave, how markets behave, can allow you to make some inference around those relationship, maybe we think Y is causing X, so you make your decision there to influence something over here. People…
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