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Business Statistics: Communicating with Numbers
Introduction:
In today's data-driven world, understanding and communicating business statistics effectively is no longer a luxury – it's a necessity. Whether you're pitching to investors, presenting to your board, or simply reporting to your team, the ability to translate complex numerical data into clear, concise, and compelling narratives is crucial for success. This blog post will equip you with the skills and strategies needed to master the art of communicating with numbers, transforming raw data into powerful insights that drive informed decision-making. We'll delve into effective visualization techniques, explore best practices for presenting statistical information, and discuss how to tailor your communication style to your specific audience. Get ready to unlock the power of data and turn numbers into your most persuasive allies.
Understanding Your Audience: The Foundation of Effective Communication
Before diving into charts and graphs, consider who you're communicating with. A presentation to seasoned investors will differ drastically from a report for a less quantitatively-minded team.
Tailoring Your Message:
Technical Audience: For those comfortable with statistical jargon, you can delve into detailed analyses, including statistical significance tests and complex models.
Non-Technical Audience: Focus on the "so what?" Translate complex findings into easily digestible takeaways, using plain language and avoiding technical terminology. Prioritize visual aids.
Executive Summary: Always begin with a concise executive summary highlighting key findings and implications. This allows busy executives to grasp the essence of your report quickly.
Visualizing Data: Making Numbers Tell a Story
Data visualization is the key to unlocking the power of business statistics. A well-crafted visual can convey complex information instantly and more effectively than pages of text.
Choosing the Right Chart:
Bar charts: Ideal for comparing different categories.
Line charts: Excellent for showing trends over time.
Pie charts: Useful for displaying proportions of a whole.
Scatter plots: Reveal correlations between variables.
Heatmaps: Illustrate patterns in large datasets.
Pro-Tip: Avoid overwhelming your audience with too much information on a single visual. Keep it simple, clean, and focused on your key message. Use clear labels, titles, and a consistent color scheme.
Presenting Statistical Findings: Clarity and Confidence
The manner in which you present your findings is equally crucial. Confidence and clarity are key.
Structuring Your Presentation:
Start with the "Why": Clearly articulate the purpose and context of your analysis.
Highlight Key Findings: Emphasize the most important insights using strong visuals and concise language.
Support Your Claims: Provide evidence to back up your assertions.
Address Limitations: Acknowledge any limitations or potential biases in your data.
End with a Call to Action: Clearly state what you want your audience to do with the information presented.
Practice Makes Perfect: Rehearse your presentation thoroughly to ensure a smooth and confident delivery. Practice answering potential questions and anticipate audience reactions.
Beyond Charts and Graphs: The Power of Storytelling
Numbers alone are rarely compelling. The true power lies in weaving a narrative around them, transforming data points into a compelling story that resonates with your audience.
Narrative Structure:
Establish a problem: Begin by outlining the challenge or opportunity your analysis addresses.
Present the solution: Showcase how your data-driven insights provide a solution.
Demonstrate impact: Clearly articulate the positive outcomes or benefits of your findings.
By framing your statistical analysis within a compelling narrative, you'll not only increase engagement but also enhance the persuasiveness of your message.
Common Mistakes to Avoid When Communicating with Numbers
Overwhelming with data: Focus on key insights, avoiding unnecessary detail.
Using jargon inappropriately: Tailor your language to your audience's understanding.
Poorly designed visuals: Ensure your charts and graphs are clear, concise, and easy to interpret.
Lack of context: Provide sufficient background information to set the stage for your analysis.
Ignoring limitations: Acknowledge any shortcomings or biases in your data.
Conclusion:
Mastering the art of communicating business statistics is a valuable skill that can significantly enhance your effectiveness as a professional. By combining clear data visualization, a well-structured presentation, and a compelling narrative, you can transform complex numerical information into impactful insights that drive informed decisions and propel your business forward. Remember, it's not just about the numbers – it's about the story they tell.
FAQs
1. What are some free tools for creating data visualizations? Many free tools are available, including Google Charts, Datawrapper, and Flourish. These offer a variety of chart types and easy-to-use interfaces.
2. How can I improve my confidence in presenting statistical findings? Practice is key! Rehearse your presentation multiple times, focusing on clear and concise language. Record yourself and identify areas for improvement.
3. What if my data shows inconclusive results? Honesty is crucial. Acknowledge any limitations or inconclusive findings, and explain what further research might be needed.
4. How can I make my data visualizations more engaging? Use color strategically, incorporate interactive elements (where appropriate), and keep the design clean and uncluttered. A compelling visual story is key.
5. What's the best way to handle challenging questions during a presentation? Prepare for potential questions beforehand. If you don't know the answer, it’s acceptable to say you'll follow up. Honesty and transparency are better than guesswork.
| business statistics communicating with numbers: Business Statistics: Communicating with Numbers Sanjiv Jaggia, Alison Kelly, 2012-01-06 The first edition of Business Statistics: Communicating with Numbers provides a unique, innovative, and engaging learning experience for students studying Business Statistics. It is an intellectually stimulating, practical, and visually attractive textbook, from which students can learn and instructors can teach. Throughout the book, the authors have presented the material in an accessible way by using timely business applications to which students can relate. Although the text is application-oriented, it is also mathematically sound and uses notation that is generally accepted for the topic being covered. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective. |
| business statistics communicating with numbers: Business Statistics Sanjiv Jaggia, Alison Kelly, 2017-01-24 |
| business statistics communicating with numbers: Business Statistics? JAGGIA, 2024-03-19 |
| business statistics communicating with numbers: Business Statistics Sanjiv Jaggia, Alison Kelly, 2016-02 Overview: The first edition of Business Statistics: Communicating with Numbers provides a unique, innovative, and engaging learning experience for students studying Business Statistics. It is an intellectually stimulating, practical, and visually attractive textbook, from which students can learn and instructors can teach. Throughout the book, the authors have presented the material in an accessible way by using timely business applications to which students can relate. Although the text is application-oriented, it is also mathematically sound and uses notation that is generally accepted for the topic being covered.-- |
| business statistics communicating with numbers: Essentials of Business Statistics Sanjiv Jaggia, Alison Kelly, 2013-02 Essentials of Business Statistics: Communicating with Numbers is a core statistics textbook that sparks student interest and bridges the gap between how statistics is taught and how practitioners think about and apply statistical methods. Throughout the text, the emphasis is on communicating with numbers rather than on number crunching. By incorporating the perspective of professional users, the subject matter is more relevant and the presentation of material more straightforward for students. |
| business statistics communicating with numbers: Business Statistics Sanjiv Jaggia, Alison Kelly (Professor of economics), 2025 We wrote Business Statistics: Communicating with Numbers because we saw a need for a contemporary, core statistics text that sparked student interest and bridged the gap between how statistics is taught and how practitioners think about and apply statistical methods. Throughout the text, the emphasis is on communicating with numbers rather than on number crunching. In every chapter, students are exposed to statistical information conveyed in written form. By incorporating the perspective of practitioners, it has been our goal to make the subject matter more relevant and the presentation of material more straightforward for students. Although the text is application-oriented and practical, it is also mathematically sound and uses notation that is generally accepted for the topic being covered-- |
| business statistics communicating with numbers: ISE Essentials of Business Statistics Sanjiv Jaggia, Alison Kelly, 2019-02-28 Essentials of Business Statistics: Communicating with Numbers is a core statistics textbook that sparks student interest and bridges the gap between how statistics is taught and how practitioners think about and apply statistical methods. Throughout the text, the emphasis is on communicating with numbers rather than on number crunching. By incorporating the perspective of professional users, the subject matter is more relevant and the presentation of material more straightforward for students. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective. |
| business statistics communicating with numbers: Einfluss einer Umformung unter Druck auf die Ausbildung von Zwischenphasen und auf die Mechanischen Eigenschaften bei Kup .... , 1978 |
| business statistics communicating with numbers: Introductory Business Statistics 2e Alexander Holmes, Barbara Illowsky, Susan Dean, 2023-12-13 Introductory Business Statistics 2e aligns with the topics and objectives of the typical one-semester statistics course for business, economics, and related majors. The text provides detailed and supportive explanations and extensive step-by-step walkthroughs. The author places a significant emphasis on the development and practical application of formulas so that students have a deeper understanding of their interpretation and application of data. Problems and exercises are largely centered on business topics, though other applications are provided in order to increase relevance and showcase the critical role of statistics in a number of fields and real-world contexts. The second edition retains the organization of the original text. Based on extensive feedback from adopters and students, the revision focused on improving currency and relevance, particularly in examples and problems. This is an adaptation of Introductory Business Statistics 2e by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License. |
| business statistics communicating with numbers: Making Numbers Count Chip Heath, Karla Starr, 2022-01-11 A clear, practical, first-of-its-kind guide to communicating and understanding numbers and data—from bestselling business author Chip Heath. How much bigger is a billion than a million? Well, a million seconds is twelve days. A billion seconds is…thirty-two years. Understanding numbers is essential—but humans aren’t built to understand them. Until very recently, most languages had no words for numbers greater than five—anything from six to infinity was known as “lots.” While the numbers in our world have gotten increasingly complex, our brains are stuck in the past. How can we translate millions and billions and milliseconds and nanometers into things we can comprehend and use? Author Chip Heath has excelled at teaching others about making ideas stick and here, in Making Numbers Count, he outlines specific principles that reveal how to translate a number into our brain’s language. This book is filled with examples of extreme number makeovers, vivid before-and-after examples that take a dry number and present it in a way that people click in and say “Wow, now I get it!” You will learn principles such as: -SIMPLE PERSPECTIVE CUES: researchers at Microsoft found that adding one simple comparison sentence doubled how accurately users estimated statistics like population and area of countries. -VIVIDNESS: get perspective on the size of a nucleus by imagining a bee in a cathedral, or a pea in a racetrack, which are easier to envision than “1/100,000th of the size of an atom.” -CONVERT TO A PROCESS: capitalize on our intuitive sense of time (5 gigabytes of music storage turns into “2 months of commutes, without repeating a song”). -EMOTIONAL MEASURING STICKS: frame the number in a way that people already care about (“that medical protocol would save twice as many women as curing breast cancer”). Whether you’re interested in global problems like climate change, running a tech firm or a farm, or just explaining how many Cokes you’d have to drink if you burned calories like a hummingbird, this book will help math-lovers and math-haters alike translate the numbers that animate our world—allowing us to bring more data, more naturally, into decisions in our schools, our workplaces, and our society. |
| business statistics communicating with numbers: Statistics in a Nutshell Sarah Boslaugh, 2012-11-15 A clear and concise introduction and reference for anyone new to the subject of statistics. |
| business statistics communicating with numbers: Practical Business Statistics Andrew F. Siegel, 1996-08 Practical Business Statistics, 5/e was written in response to instructors not wanting a formula driven, mathematically encyclopedic book. The use of computer applications means some topics no longer require coverage in detail. This allows future managers to know how to use and understand statistics. The text does this by using examples with real data that relate to the functional areas of business such as finance, accounting, and marketing. It de-emphasizes the theoretical, and presents the material in a well-written, easy style designed to motivate students. The emphasis is on understanding and applications as opposed to mathematical precision and formula detail. |
| business statistics communicating with numbers: Business Statistics David F. Groebner, 2005 This comprehensive text presents descriptive and inferential statistics with an assortment of business examples and real data, and an emphasis on decision-making. The accompanying CD-ROM presents Excel and Minitab tutorials as well as data files for all the exercises and exmaples presented. |
| business statistics communicating with numbers: Applied Bayesian Statistics Mary Kathryn Cowles, 2013-01-04 This book is based on over a dozen years teaching a Bayesian Statistics course. The material presented here has been used by students of different levels and disciplines, including advanced undergraduates studying Mathematics and Statistics and students in graduate programs in Statistics, Biostatistics, Engineering, Economics, Marketing, Pharmacy, and Psychology. The goal of the book is to impart the basics of designing and carrying out Bayesian analyses, and interpreting and communicating the results. In addition, readers will learn to use the predominant software for Bayesian model-fitting, R and OpenBUGS. The practical approach this book takes will help students of all levels to build understanding of the concepts and procedures required to answer real questions by performing Bayesian analysis of real data. Topics covered include comparing and contrasting Bayesian and classical methods, specifying hierarchical models, and assessing Markov chain Monte Carlo output. Kate Cowles taught Suzuki piano for many years before going to graduate school in Biostatistics. Her research areas are Bayesian and computational statistics, with application to environmental science. She is on the faculty of Statistics at The University of Iowa. |
| business statistics communicating with numbers: Working With Numbers and Statistics Charles Livingston, Paul S. Voakes, 2005-05-06 Working With Numbers and Statistics: A Handbook for Journalists will bolster math skills and improve math confidence for journalists at all skill levels. Authors Charles Livingston and Paul Voakes developed this resource book to improve journalistic writing and reporting, enabling journalists to: *make accurate, reliable computations, which in turn enables one to make relevant comparisons, put facts into perspective, and lend important context to stories; *recognize inaccurate presentations, whether willfully spun or just carelessly relayed; *ask appropriate questions about numerical matters; *translate complicated numbers for viewers and readers in ways they can readily understand; *understand computer-assisted reporting; and *write livelier, more precise pieces through the use of numbers. The math is presented in a journalistic context throughout, enabling readers to see how the procedures will come into play in their work. Working With Numbers and Statistics is designed as a reference work for journalism students developing their writing and reporting skills. It will also serve professionals as a useful tool to improve their understanding and use of numbers in news stories. |
| business statistics communicating with numbers: Business Statistics Norean Radke Sharpe, Norean D. Sharpe, Richard D. De Veaux, Paul F. Velleman, 2018 Revised edition of the authors' Business statistics, [2015] |
| business statistics communicating with numbers: Quantitative Research Methods in Communication Erica Scharrer, Srividya Ramasubramanian, 2021-05-13 This textbook is an advanced introduction to quantitative methods for students in communication and allied social science disciplines that focuses on why and how to conduct research that contributes to social justice. Today’s researchers are inspired by the potential for scholarship to make a difference for society, to push toward more just and equitable ends, and to engage in dialogue with members of the public so that they can make decisions about how to navigate the social, cultural, and political world equipped with accurate, fair, and up-to-date knowledge. This book illustrates the mechanics and the meaning behind quantitative research methods by illustrating each step in the research design process with research addressing questions of social justice. It provides practical guidance for researchers who wish to engage in the transformation of structures, practices, and understandings in society through community and civic engagement and policy formation. It contains step-by-step guidance in quantitative methods—from conceptualization through all the stages of execution of a study, including providing a detailed guide for statistical analysis—and demonstrates how researchers can engage with social justice issues in systematic, rigorous, ethical, and meaningful ways. This text serves as a core or supplementary textbook for graduate and advanced undergraduate courses in research methods for communication and social sciences and fills a gap for a methods text that is responsive to the desire of scholars to conduct socially impactful research. |
| business statistics communicating with numbers: The Book of Why Judea Pearl, Dana Mackenzie, 2018-05-15 A Turing Award-winning computer scientist and statistician shows how understanding causality has revolutionized science and will revolutionize artificial intelligence Correlation is not causation. This mantra, chanted by scientists for more than a century, has led to a virtual prohibition on causal talk. Today, that taboo is dead. The causal revolution, instigated by Judea Pearl and his colleagues, has cut through a century of confusion and established causality -- the study of cause and effect -- on a firm scientific basis. His work explains how we can know easy things, like whether it was rain or a sprinkler that made a sidewalk wet; and how to answer hard questions, like whether a drug cured an illness. Pearl's work enables us to know not just whether one thing causes another: it lets us explore the world that is and the worlds that could have been. It shows us the essence of human thought and key to artificial intelligence. Anyone who wants to understand either needs The Book of Why. |
| business statistics communicating with numbers: Making Data Talk David E. Nelson (M.D.), Bradford W. Hesse, Robert T. Croyle, 2009 The demand for health information continues to increase, but the ability of health professionals to provide it clearly remains variable. The aim of this book is (1) to summarize and synthesize research on the selection and presentation of data pertinent to public health, and (2) to provide practical suggestions, based on this research summary and synthesis, on how scientists and other public health practitioners can better communicate data to the public, policy makers, and the press in typical real-world situations. Because communication is complex and no one approach works for all audiences, the authors emphasize how to communicate data better (and in some instances, contrast this with how to communicate data worse), rather than attempting a cookbook approach. The book contains a wealth of case studies and other examples to illustrate major points, and actual situations whenever possible. Key principles and recommendations are summarized at the end of each chapter. This book will stimulate interest among public health practitioners, scholars, and students to more seriously consider ways they can understand and improve communication about data and other types of scientific information with the public, policy makers, and the press. Improved data communication will increase the chances that evidence-based scientific findings can play a greater role in improving the public's health. |
| business statistics communicating with numbers: Keeping Up with the Quants Thomas H. Davenport, Jinho Kim, 2013-05-21 Why Everyone Needs Analytical Skills Welcome to the age of data. No matter your interests (sports, movies, politics), your industry (finance, marketing, technology, manufacturing), or the type of organization you work for (big company, nonprofit, small start-up)—your world is awash with data. As a successful manager today, you must be able to make sense of all this information. You need to be conversant with analytical terminology and methods and able to work with quantitative information. This book promises to become your “quantitative literacy guide—helping you develop the analytical skills you need right now in order to summarize data, find the meaning in it, and extract its value. In Keeping Up with the Quants, authors, professors, and analytics experts Thomas Davenport and Jinho Kim offer practical tools to improve your understanding of data analytics and enhance your thinking and decision making. You’ll gain crucial skills, including: How to formulate a hypothesis How to gather and analyze relevant data How to interpret and communicate analytical results How to develop habits of quantitative thinking How to deal effectively with the “quants” in your organization Big data and the analytics based on it promise to change virtually every industry and business function over the next decade. If you don’t have a business degree or if you aren’t comfortable with statistics and quantitative methods, this book is for you. Keeping Up with the Quants will give you the skills you need to master this new challenge—and gain a significant competitive edge. |
| business statistics communicating with numbers: Statistics, 3E Robert A. Donnelly Jr. Ph.D., Fatma Abdel-Raouf, Ph.D., 2016-07-12 Statistics is a class that is required in many college majors, and it’s an increasingly popular Advanced Placement (AP) high school course. In addition to math and technical students, many business and liberal arts students are required to take it as a fundamental component of their majors. A knowledge of statistical interpretation is vital for many careers. Idiot’s Guides®: Statistics explains the fundamental tenets in language anyone can understand. Content includes: - Calculating descriptive statistics. - Measures of central tendency: mean, median, and mode. - Probability. - Variance analysis. - Inferential statistics. - Hypothesis testing. - Organizing data into statistical charts and tables. |
| business statistics communicating with numbers: Communicating Data with Tableau Ben Jones, 2014-06-16 Go beyond spreadsheets and tables and design a data presentation that really makes an impact. This practical guide shows you how to use Tableau Software to convert raw data into compelling data visualizations that provide insight or allow viewers to explore the data for themselves. Ideal for analysts, engineers, marketers, journalists, and researchers, this book describes the principles of communicating data and takes you on an in-depth tour of common visualization methods. You’ll learn how to craft articulate and creative data visualizations with Tableau Desktop 8.1 and Tableau Public 8.1. Present comparisons of how much and how many Use blended data sources to create ratios and rates Create charts to depict proportions and percentages Visualize measures of mean, median, and mode Lean how to deal with variation and uncertainty Communicate multiple quantities in the same view Show how quantities and events change over time Use maps to communicate positional data Build dashboards to combine several visualizations |
| business statistics communicating with numbers: Understanding Research Methods and Statistics in Psychology Helen Gavin, 2008-02-18 Understanding and applying research methods and statistics in psychology is one of the corner stones of study at undergraduate level. To enable all undergraduate psychology students to carry out their own investigations the textbook covers basic and advanced qualitative and quantitative methods and follows a sequential structure starting from first principles to more advanced techniques. Accompanied by a companion website, the textbook: - Grounds all techniques to psychological theory relating each topic under discussion to well established pieces of research - Can be used by the student at beginning and more advanced undergraduate level - therefore a `one-stop′ shop - Includes a creative and practical selection of heuristic devices that cement knowledge of the techniques and skills covered in the textbook |
| business statistics communicating with numbers: Business Statistics Demystified Steven M. Kemp, Sid Kemp, 2004-07-02 Say goodbye to dry presentations, grueling formulas, and abstract theories that would put Einstein to sleep -- now there's an easier way to master the disciplines you really need to know. McGraw-Hill's Demystified Series teaches complex subjects in a unique, easy-to-absorb manner, and is perfect for users without formal training or unlimited time. They're also the most time-efficient, interestingly written brush-ups you can find. Organized as self-teaching guides, they come complete with key points, background information, questions at the end of each chapter, and even final exams. You'll be able to learn more in less time, evaluate your areas of strength and weakness and reinforce your knowledge and confidence. This self-teaching guide brings business statistics down to an understandable level, using practical examples. Coverage includes: probability, analysis of variance, designed experiments, preparing statistical reports, basic statistical procedures, and much more. |
| business statistics communicating with numbers: Storytelling with Data Cole Nussbaumer Knaflic, 2015-10-09 Don't simply show your data—tell a story with it! Storytelling with Data teaches you the fundamentals of data visualization and how to communicate effectively with data. You'll discover the power of storytelling and the way to make data a pivotal point in your story. The lessons in this illuminative text are grounded in theory, but made accessible through numerous real-world examples—ready for immediate application to your next graph or presentation. Storytelling is not an inherent skill, especially when it comes to data visualization, and the tools at our disposal don't make it any easier. This book demonstrates how to go beyond conventional tools to reach the root of your data, and how to use your data to create an engaging, informative, compelling story. Specifically, you'll learn how to: Understand the importance of context and audience Determine the appropriate type of graph for your situation Recognize and eliminate the clutter clouding your information Direct your audience's attention to the most important parts of your data Think like a designer and utilize concepts of design in data visualization Leverage the power of storytelling to help your message resonate with your audience Together, the lessons in this book will help you turn your data into high impact visual stories that stick with your audience. Rid your world of ineffective graphs, one exploding 3D pie chart at a time. There is a story in your data—Storytelling with Data will give you the skills and power to tell it! |
| business statistics communicating with numbers: How to Make the World Add Up Tim Harford, 2021-05-06 Factfulness meets How to Be Right in this major new book from globally bestselling economist Tim Harford 'Tim Harford is our most likeable champion of reason and rigour... clear, clever and always highly readable' Times Books of the Year 'If you aren't in love with stats before reading this book, you will be by the time you're done. Powerful, persuasive, and in these truth-defying times, indispensable' Caroline Criado Perez, author of Invisible Women 'Nobody makes the statistics of everyday life more fascinating and enjoyable than Tim Harford' Bill Bryson 'Fabulously readable, lucid, witty and authoritative . . . Every politician and journalist should be made to read this book, but everyone else will get so much pleasure and draw so much strength from the joyful way it dispels the clouds of deceit and delusion' Stephen Fry 'Wise, humane and, above all, illuminating. Nobody is better on statistics and numbers - and how to make sense of them' Matthew Syed THE SUNDAY TIMES BUSINESS BESTSELLER When was the last time you read a grand statement, accompanied by a large number, and wondered whether it could really be true? Statistics are vital in helping us tell stories - we see them in the papers, on social media, and we hear them used in everyday conversation - and yet we doubt them more than ever. But numbers - in the right hands - have the power to change the world for the better. Contrary to popular belief, good statistics are not a trick, although they are a kind of magic. Good statistics are not smoke and mirrors; in fact, they help us see more clearly. Good statistics are like a telescope for an astronomer, a microscope for a bacteriologist, or an X-ray for a radiologist. If we are willing to let them, good statistics help us see things about the world around us and about ourselves - both large and small - that we would not be able to see in any other way. In How to Make the World Add Up, Tim Harford draws on his experience as both an economist and presenter of the BBC's radio show 'More or Less'. He takes us deep into the world of disinformation and obfuscation, bad research and misplaced motivation to find those priceless jewels of data and analysis that make communicating with numbers worthwhile. Harford's characters range from the art forger who conned the Nazis to the stripper who fell in love with the most powerful congressman in Washington, to famous data detectives such as John Maynard Keynes, Daniel Kahneman and Florence Nightingale. He reveals how we can evaluate the claims that surround us with confidence, curiosity and a healthy level of scepticism. Using ten simple rules for understanding numbers - plus one golden rule - this extraordinarily insightful book shows how if we keep our wits about us, thinking carefully about the way numbers are sourced and presented, we can look around us and see with crystal clarity how the world adds up. |
| business statistics communicating with numbers: Business Communication for Success Scott McLean, 2010 |
| business statistics communicating with numbers: Statistical Methods in Online A/B Testing Georgi Zdravkov Georgiev, 2019-09-28 Statistical Methods in Online A/B Testing is a comprehensive guide to statistics in online controlled experiments, a.k.a. A/B tests, that tackles the difficult matter of statistical inference in a way accessible to readers with little to no prior experience with it. Each concept is built from the ground up, explained thoroughly, and illustrated with practical examples from website testing. The presentation is straight to the point and practically oriented so you can apply the takeaways in your daily work.It is a must-read for anyone looking for a deep understanding of how to make data-driven business decisions through experimentation: conversion rate optimizers, product managers, growth experts, data analysts, marketing managers, experts in user experience and design. The new research presented and the fresh perspective on how to apply statistics and experimentation to achieve business goals make for an interesting read even for experienced statisticians.The book deals with scientific methods, but their introductions and explanations are grounded in the business goals they help achieve, such as innovating under controlled risk, and estimating the effect of proposed business actions before committing to them. While the book doesn't shy away from math and formulas, it is to the extent to which these are essential for understanding and applying the underlying concepts. The presentation is friendly to readers with little to no prior knowledge in statistics. Artificial and impractical examples like dice rolling and betting are absent, instead statistical concepts are illustrated through scenarios which might well be mistaken with the last couple of A/B tests you managed.This book also doesn't shy away from the fact that much of the current statistical theory and practice in online A/B testing is misguided, misinterpreted, or misapplied. It also addresses the issue of blind copying of scientific applications without due consideration of the unique features of online business, which is widespread. The book will help you avoid these malpractices by explicitly pointing out frequent mistakes, while also helping you align your usage of statistics and experimentation with any business goals you might want to pursue. |
| business statistics communicating with numbers: A Concise Guide to Market Research Marko Sarstedt, Erik Mooi, 2014-08-07 This accessible, practice-oriented and compact text provides a hands-on introduction to market research. Using the market research process as a framework, it explains how to collect and describe data and presents the most important and frequently used quantitative analysis techniques, such as ANOVA, regression analysis, factor analysis and cluster analysis. The book describes the theoretical choices a market researcher has to make with regard to each technique, discusses how these are converted into actions in IBM SPSS version 22 and how to interpret the output. Each chapter concludes with a case study that illustrates the process using real-world data. A comprehensive Web appendix includes additional analysis techniques, datasets, video files and case studies. Tags in the text allow readers to quickly access Web content with their mobile device. The new edition features: Stronger emphasis on the gathering and analysis of secondary data (e.g., internet and social networking data) New material on data description (e.g., outlier detection and missing value analysis) Improved use of educational elements such as learning objectives, keywords, self-assessment tests, case studies, and much more Streamlined and simplified coverage of the data analysis techniques with more rules-of-thumb Uses IBM SPSS version 22 |
| business statistics communicating with numbers: The Data Detective Tim Harford, 2021-02-02 From “one of the great (greatest?) contemporary popular writers on economics” (Tyler Cowen) comes a smart, lively, and encouraging rethinking of how to use statistics. Today we think statistics are the enemy, numbers used to mislead and confuse us. That’s a mistake, Tim Harford says in The Data Detective. We shouldn’t be suspicious of statistics—we need to understand what they mean and how they can improve our lives: they are, at heart, human behavior seen through the prism of numbers and are often “the only way of grasping much of what is going on around us.” If we can toss aside our fears and learn to approach them clearly—understanding how our own preconceptions lead us astray—statistics can point to ways we can live better and work smarter. As “perhaps the best popular economics writer in the world” (New Statesman), Tim Harford is an expert at taking complicated ideas and untangling them for millions of readers. In The Data Detective, he uses new research in science and psychology to set out ten strategies for using statistics to erase our biases and replace them with new ideas that use virtues like patience, curiosity, and good sense to better understand ourselves and the world. As a result, The Data Detective is a big-idea book about statistics and human behavior that is fresh, unexpected, and insightful. |
| business statistics communicating with numbers: Statistical Consulting Janice Derr, 2000 Dr. Janice Derr covers all aspects of statistical consulting. Using text and video, she integrates three themes that form the perspective of the book. First, a statistician should treat each client as a potential collaborator. Second, diversity must be appreciated. Students will see a variety of cultures, styles of communication and negotiation, and learning preferences in the book. Third, experienced statisticians and clients must work together in the process of training statistical consultants. On the CD-ROM, video segments bring the material to life and cover each aspect of statistical consulting by demonstrating good and bad techniques. |
| business statistics communicating with numbers: Effective Data Storytelling Brent Dykes, 2019-12-10 Master the art and science of data storytelling—with frameworks and techniques to help you craft compelling stories with data. The ability to effectively communicate with data is no longer a luxury in today’s economy; it is a necessity. Transforming data into visual communication is only one part of the picture. It is equally important to engage your audience with a narrative—to tell a story with the numbers. Effective Data Storytelling will teach you the essential skills necessary to communicate your insights through persuasive and memorable data stories. Narratives are more powerful than raw statistics, more enduring than pretty charts. When done correctly, data stories can influence decisions and drive change. Most other books focus only on data visualization while neglecting the powerful narrative and psychological aspects of telling stories with data. Author Brent Dykes shows you how to take the three central elements of data storytelling—data, narrative, and visuals—and combine them for maximum effectiveness. Taking a comprehensive look at all the elements of data storytelling, this unique book will enable you to: Transform your insights and data visualizations into appealing, impactful data stories Learn the fundamental elements of a data story and key audience drivers Understand the differences between how the brain processes facts and narrative Structure your findings as a data narrative, using a four-step storyboarding process Incorporate the seven essential principles of better visual storytelling into your work Avoid common data storytelling mistakes by learning from historical and modern examples Effective Data Storytelling: How to Drive Change with Data, Narrative and Visuals is a must-have resource for anyone who communicates regularly with data, including business professionals, analysts, marketers, salespeople, financial managers, and educators. |
| business statistics communicating with numbers: OpenIntro Statistics David Diez, Christopher Barr, Mine Çetinkaya-Rundel, 2015-07-02 The OpenIntro project was founded in 2009 to improve the quality and availability of education by producing exceptional books and teaching tools that are free to use and easy to modify. We feature real data whenever possible, and files for the entire textbook are freely available at openintro.org. Visit our website, openintro.org. We provide free videos, statistical software labs, lecture slides, course management tools, and many other helpful resources. |
| business statistics communicating with numbers: Handbook of Data Visualization Chun-houh Chen, Wolfgang Karl Härdle, Antony Unwin, 2007-12-18 Visualizing the data is an essential part of any data analysis. Modern computing developments have led to big improvements in graphic capabilities and there are many new possibilities for data displays. This book gives an overview of modern data visualization methods, both in theory and practice. It details modern graphical tools such as mosaic plots, parallel coordinate plots, and linked views. Coverage also examines graphical methodology for particular areas of statistics, for example Bayesian analysis, genomic data and cluster analysis, as well software for graphics. |
| business statistics communicating with numbers: Statistics for Linguists: An Introduction Using R Bodo Winter, 2019-10-30 Statistics for Linguists: An Introduction Using R is the first statistics textbook on linear models for linguistics. The book covers simple uses of linear models through generalized models to more advanced approaches, maintaining its focus on conceptual issues and avoiding excessive mathematical details. It contains many applied examples using the R statistical programming environment. Written in an accessible tone and style, this text is the ideal main resource for graduate and advanced undergraduate students of Linguistics statistics courses as well as those in other fields, including Psychology, Cognitive Science, and Data Science. |
| business statistics communicating with numbers: Statistical Rethinking Richard McElreath, 2018-01-03 Statistical Rethinking: A Bayesian Course with Examples in R and Stan builds readers’ knowledge of and confidence in statistical modeling. Reflecting the need for even minor programming in today’s model-based statistics, the book pushes readers to perform step-by-step calculations that are usually automated. This unique computational approach ensures that readers understand enough of the details to make reasonable choices and interpretations in their own modeling work. The text presents generalized linear multilevel models from a Bayesian perspective, relying on a simple logical interpretation of Bayesian probability and maximum entropy. It covers from the basics of regression to multilevel models. The author also discusses measurement error, missing data, and Gaussian process models for spatial and network autocorrelation. By using complete R code examples throughout, this book provides a practical foundation for performing statistical inference. Designed for both PhD students and seasoned professionals in the natural and social sciences, it prepares them for more advanced or specialized statistical modeling. Web Resource The book is accompanied by an R package (rethinking) that is available on the author’s website and GitHub. The two core functions (map and map2stan) of this package allow a variety of statistical models to be constructed from standard model formulas. |
| business statistics communicating with numbers: The Art of Statistics David Spiegelhalter, 2021-08-17 The important and comprehensive (New Yorker) guide to statistical thinking The age of big data has made statistical literacy more important than ever. In The Art of Statistics, David Spiegelhalter shows how to apply statistical reasoning to real-world problems. Whether we're analyzing preventative medical screening or the terrible crime sprees of serial killers, Spiegelhalter teaches us how to clarify questions, assumptions, and expectations and, most importantly, how to interpret the answers we receive. Combining the incomparable insight of an expert with the playful enthusiasm of an aficionado, The Art of Statistics is the definitive guide to the power of data. A call to arms for greater societal data literacy . . . a reminder that there are passionate, self-aware statisticians who can argue eloquently that their discipline is needed now more than ever. -- Financial Times |
| business statistics communicating with numbers: Complete Business Statistics Amir D. Aczel, Jayavel Sounderpandian, 2009 |
| business statistics communicating with numbers: Show Me the Numbers Stephen Few, 2012 Information, no matter how important, cannot speak for itself. To tell its story, it relies on us to give it a clear voice. No information is more critical than quantitative data ... numbers that reveal what's happening, how our organizations are performing, and opportunities to do better. Numbers are usually presented in tables and graphs, but few are properly designed, resulting not only in poor communication, but at times in miscommunication. This is a travesty, because the skills needed to present quantitative information effectively are simple to learn. Good communication doesn't just happen; it is the result of good design. |
| business statistics communicating with numbers: Business Communication? RENTZ, 2024-05-14 |
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