I took the Tufte at some point course on the visualization of information over 20 years ago and it has had a profound impact on focusing my powers of observation and my capacity to suppose of blank representations of data. Over the years, I actually have adopted a set of guidelines while watching at information that has served me well.
My information rule checklist:
1. Graph the information – If you can’t see it, you can’t recognize it. Pictures are critical.
2. Cut the information – Look over unique time intervals to see if there are changes. Data move.
3. Get the stats – Understand the distribution of the information in simple terms after seeing it first.
4. Look on the histogram – Find for outliers simply due to the fact it really is had been funds is won or lost.
5. Match information with occasions – Go equally methods – match outliers with occasions and large occasions with data.
6. Generate conditional tables – The energy of a 2×2 contingency desk is typically missed.
7. Check the volatility and correlation – See regardless of even if volatility and correlations change.
8. Compare towards nice occasions and bad – Show industry cycle and large occasions on graph.
9. Map idea and past proof – Use priors of unique researchers to focus representation of data.
10. Run your regression assessments – Be skeptical and discuss residuals.
Good information research is a talent that might be realized by way of following a process.