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Decision Maker's Effective Skills & Tools for Interpreting Data

analytic tools

Your company may spend a lot of money on an efficient analytics tool, but what good is it if there is no one to interpret the data correctly? A great analytics tool does not magically make you an expert decision maker. With the volume of data available, even the best tools will not help the less competent people make the right decisions. Many companies have suffered unfortunate blows due to poor business decisions based on incorrect data interpretations.

There is a solution to this problem. Companies who want to make better use of their data should get the decision makers to increase their data literacy skills by getting trained to be efficient in the tools used by their company. Training should be targeted at the consumers, not just the builders and authors of the visualisations or applications; this is because the consumers are the ones that are making the decisions.

What do you need to understand to set up or use a visualisation to ask and answer analytical questions? You need to have the ability to describe the visualisation, data and any potential trends that it reveals and, based on that, make interpretations. To do this, you need to understand statistics, analytics techniques and various other data literacy topics.

To improve decision maker's ability to effectively use analytics tools, Qlik has a learning platform for Business Users. For more information, see Decision Makers: Is Your Analytics Tool Worthless?

Also read: Latest Upgrades For Business Intelligence Tools