From the course: Building KPIs for Data-Driven Strategy

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Data literacy considerations for KPIs

Data literacy considerations for KPIs

From the course: Building KPIs for Data-Driven Strategy

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Data literacy considerations for KPIs

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- [Instructor] Data literacy is a hot topic these days. Some say it's the ability to speak the language of data. To me, it's the ability to think about and do stuff with data. You need to know some things about data that you can put into practice when creating KPIs. Do you need to learn how to create sophisticated data science algorithms or do sophisticated statistical analysis in R or Python? Definitely not, but you do need to know a few key things, and more importantly, you need to know what you don't know so you can lean on others as appropriate. What key things should you know? Well, how about the difference between mean and median and when you might use one or the other? You should probably know what correlation really means and how you might confirm whether what looks like correlation at the surface level is statistically significant correlation. Now that I mention it, you should probably know what statistically significant actually means. Do you need to know the math to…

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