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More Judgment Than Data - Data Literacy and Decision-Making (Hardcover, 1st ed. 2022)
Loot Price: R3,165
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More Judgment Than Data - Data Literacy and Decision-Making (Hardcover, 1st ed. 2022)
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More data has been produced in the 21st century than all of human
history combined. Yet, are we making better decisions today than in
the past? How many poor decisions result from the absence of data?
The existence of an overwhelming amount of data has affected how we
make decisions, but it has not necessarily improved how we make
decisions. To make better decisions, people need good judgment
based on data literacy-the ability to extract meaning from data.
Including data in the decision-making process can bring
considerable clarity in answering our questions. Nevertheless,
human beings can become distracted, overwhelmed, and even confused
in the presence of too much data. The book presents cautionary
tales of what can happen when too much attention is spent on
acquiring more data instead of understanding how to best use the
data we already have. Data is not produced in a vacuum, and
individuals who possess data literacy will understand the
environment and incentives in the data-generating process. Readers
of this book will learn what questions to ask, what data to pay
attention to, and what pitfalls to avoid in order to make better
decisions. They will also be less vulnerable to those who
manipulate data for misleading purposes.
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