We just released our third and final edition of The Data Analytics Handbook! Interviewees include Hal Varian, the Chief Economist at Google and other academic professionals with deep expertise in the Big Data Industry.
Download and read it at http://www.analyticshandbook.com!

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Here are the Top 5 Takeaways from our interviews!

TOP 5 TAKEAWAYS
FROM RESEARCHERS AND ACADEMICS

1. There are wrong questions to ask about data.
Included informally with Type I and Type II error in hypothesis testing should be Type III error. Type III error is asking the wrong questions about data or attempting to discern answers from data that actually isn’t available.

2. Data Science is a strategic initiative.
The huge demand for data scientists is a result of companies early investment in Big Data and wanting to get returns from those investments. As more companies invest in Big Data it will result in the strategic recruitment of more data scientists and data science departments.

3. Data professionals must be humble.
Not only are humble people better to work with, but a data literate professional must be humble to its data. He/she must be willing to accept when hypotheses are disproven and be skeptical of results. He/she must recognize that data is the main channel in which users communicate with a company now.

4. Analytics is a basis for competition.
The effective use of data is going to form the basis for competition for every industry in every organization.

5. For data science, learn how to learn.
We are still in the early stages of data science so the tools will constantly evolve, therefore education is a continuing process and should not be tied to any specific tool. As more tools get commercialized, the build, buy, or outsource decision firms must make is impossible to predict so to be competitive become adept at learning new tools.

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