PASS Business Analytics Conference Keynote Day #2

Dr. Steven Levitt’s (Indiana Jones of economics & Author of Freakonomics) work involves finding insights from data. In the keynote, he shared some of the interesting & fun insights that he found from data.

One Example: Dr. Levitt: According to the data, It was 7 times more dangerous to sell crack in Chicago than it was being in combat in Iraq. https://twitter.com/markvsql/status/322707949158006786

He also talked about other insights that he found which could also be found in his book Freakonomics. After getting audience fascinated about what analyzing data can do – he moved to his real world experiences of analyzing data for businesses. And tied all these fascinating insights back to some tips he had for the audience. Here is a brief recap of the tips he shared:

> “Ideas don’t come out of the blue. Almost always ideas come out of the data” – Dr. Steven Levitt

> “You guys are the future. What you’re doing is the key to a business’ success or failure.”

> Experiment & Test Hypothesis using DATA

> Misconceptions can cripple you. Let the data speak, even when it might be difficult

> Most important people = who understand and know what to do with data, not those who pretend they know the answer.

> Dr. Levitt: without data any biz will be left behind, must experiment and accept failure

*Above text is linked to tweets.

That’s about it for this post. What do you think about the tips that Dr Levitt shared?

 

2 thoughts on “PASS Business Analytics Conference Keynote Day #2

  1. Pingback: PASS Business Analytics Conference: the ultimate networking | James Serra's Blog

  2. Pingback: Business Analytics projects are like an iceberg: | Paras Doshi - Blog

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