Levels of Understanding Data Analytics

Updated: May 15

All are created equal, but some do data analysis better!

One of the current trends in finance (and perhaps the world) is using more and more data analysis (data science) in the process of making decisions. The concept of "digital finance" means to have quick, reliable and insightful data analysis and more importantly to be able to base your decision on it.

As in everything in human nature, during this journey of setting up data analysis different people and organizations ended up on different stages. Some are using extremely advanced and powerful analysis, others use very simple tools.

To shed some light on this topic, we created this quick interactive roadmap that explains the different level of sophistication of data analysis abilities:

In the end what is your (your organization) level is, really depend on the resources invested, goals that are set up etc. For some people and organizations it is totally okay to stay within insight borders of data summary, if your decision-making won't have to rely heavily on data. It is just set of skill and it is up to users to decide how advanced they want to be.

It is part of the human nature that we want to advance all our knowledge and skills. We at ABIR Analytics understand very well that desire and in the future we will continue to work in this area and share our knowledge with anyone interested.

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