Accurate data is an essential part of making sound business decisions, developing strategies and insights, and it is the foundation of any good projection or estimate.
Tonya Harrington, Business Manager at Siren Interactive, contributes this post:
Data analysis is vital to the success and longevity of any business. Wikipedia defines data as:
“facts usually collected as the result of experience, observation or experiment, or processes within a computer system, or premises. Data may consist of numbers, words, or images, particularly as measurements or observations of a set of variables. Data are often viewed as a lowest level of abstraction from which information and knowledge are derived.”
Data provides tools to support a hypothesis or theory. But without a story, it is useless information. Data alone cannot prove or disprove anything — it is merely a piece of the puzzle. However, when used to support a vision, data comes alive and the goal is better understood. Data is a vital part of communication as it helps define and add clarity to the space between the story and the desired conclusion.