Data literacy is an essential skill for every role within an organization—not just data scientists and analysts. As companies collect more data than ever before, it’s critical that everyone can read and analyze that data efficiently. In this course, you'll learn the basics of data-driven decision-making and get to apply these skills to three real-life examples from the world of finance, marketing, and operations. You’ll also discover how to uncover new insights and opportunities by applying supply and demand, cost and benefit, and risk and rewards frameworks—gaining practical skills to help you thrive in the new data-driven world.
In this chapter, you’ll get familiar with the data-driven decision framework. You’ll learn more about different types of data analysis and their objectives. By the end, you’ll be able to see where each decision fits within the framework.
Let’s apply the data-driven decision in a marketing context. You'll use data to optimize ad spend, identify arbitrage opportunities for website traffic, and even how to forecast new product launches with limited but relevant data.
Learning how to use data to inform decisions in finance can be satisfying and profitable. In this chapter, you'll review investment opportunities using data in consumer credit, real estate, and even in a non-traditional market of collectibles.
In the final chapter, you'll apply data to create a total addressable market calculation for a startup, learn about supply and demand curves used for staffing, and how to spot customer-driven areas for improvement. This will provide you with practical experience of how to identify optimization opportunities and support existing business operations.
Adjunct Professor, Harvard University
“I've used other sites—Coursera, Udacity, things like that—but DataCamp's been the one that I've stuck with.”
Devon Edwards Joseph
Lloyds Banking Group
“DataCamp is the top resource I recommend for learning data science.”
Harvard Business School
“DataCamp is by far my favorite website to learn from.”
Decision Science Analytics, USAA