Data analysis: Difference between revisions

Revision as of 21:38, 2 July 2025

Revision as of 23:17, 11 July 2025

Line 197:

{{quote box|quote=You are entitled to your own opinion, but you are not entitled to your own facts.|source=[[Daniel Patrick Moynihan]]|width = 250px}}

Effective analysis requires obtaining relevant [[fact]]s to answer questions, support a conclusion or formal [[opinion]], or test [[hypotheses]].<ref>{{Citation|title=Information relevant to your job|date=2007-07-11 |url=http://dx.doi.org/10.4324/9780080544304-16 |work=Obtaining Information for Effective Management|pages=48–54 |publisher=Routledge|doi=10.4324/9780080544304-16|doi-broken-date=171 DecemberJuly 20242025 |isbn=978-0-08-054430-4|access-date=2021-06-03}}</ref> Facts by definition are irrefutable, meaning that any person involved in the analysis should be able to agree upon them. The auditor of a public company must arrive at a formal opinion on whether financial statements of publicly traded corporations are "fairly stated, in all material respects".<ref>{{Cite journal|last=Gordon|first=Roger|date=March 1990|title=Do Publicly Traded Corporations Act in the Public Interest?|url=http://dx.doi.org/10.3386/w3303|___location=Cambridge, MA|doi=10.3386/w3303 |journal=National Bureau of Economic Research Working Papers}}</ref> This requires extensive analysis of factual data and evidence to support their opinion.

===Cognitive biases===