Diving Into Data

Data drives decisions of the worlds largest companies but in a world with constant data, how do you make sense of it? Host TC Riley, puts the world under the lens of data and analytics and explores current news, B2B trends, and popular topics.

Data drives decisions of the worlds largest companies but in a world with constant data, how do you make sense of it? Host TC Riley, puts the world under the lens of data and analytics and explroes current news, B2B trends, and popular topics.

On this segment of Diving Into Data with host Thomas Riley, MarketScale Senior Director, Analytics, tackles a big topic, particularly in American life and culture – football.

In particular, Riley explored how the sport is feeling the pain of the COVID-19 pandemic, which manifested itself in a variety of changes to the sport’s typical schedule and has had some clear impacts on the game now that play is underway.

TC Riley, host of Diving Into Data with TC Riley, shared his top tips and tricks that illustrate that AI and ML span many levels and that you don’t need experts to implement these techniques.

TC kicked off with a deep-dive into the recent data-centric boom on Wall Street. “There’s a data dominance going on. There’s a lot more data related things going on in the stock market than I think we’ve traditionally seen, especially as it relates to the companies themselves,” he said.

• First Outcome/Experiment ‘Bias’

o Be careful letting the initial finding be your final one

o Very common, both based on bias and desire for immediate results, to let a single experiment dictate next steps

o Every experiment should be validated in multiple ways, at a minimum

o Ideally, you’ll have concurrent experiments that take a completely different approach

o If you’re really onto something, you’ll see consistency across your results

o You’re missing bigger picture and not ‘checking your work’ if you let the satisfaction of a single successful experiment outweigh the need for the scientific process

What makes a successful company in 2020? Is it revenue or market share? Or is it something else? Today’s podcast posits that the answer is a lot more technical than that.

TC Riley, the host of Diving into Data, discusses the importance of data literacy across all levels of a company.

In today’s world, it’s not enough to “just” have a data department. Company leaders must invest resources into helping their employees understand and leverage data in their day-to-day work.

Why? Well, this is 2020 -- more than ever before, data is crucial for the success of any company. Just as the human body doesn’t perform as well when it’s sick, clunky or misguided data practices will weigh any business down too. What’s important now is setting up a new data structure with designated leaders to enforce best data practices at all times.

Analyzing a company’s human resources data can also reveal future leaders to nurture and bring to their full potential. In fact, DataQuest found that leveraging data can be more effective than past performance in identifying leadership potential.

What does this mean for current company leaders?

For one, they’ll need to invest more resources into creating a data-literate workforce. Future leaders must be able to understand data in order to take their company to new heights. So, there’s no better time than now to upskill employees and break down “data silos.”

Secondly, the need for clean data practices cannot be understated. By identifying data issues now, company leaders can avoid costly fixes later on. By bringing in entire teams to process and analyze data, leaders can cover these two points at the same time.