MIS 0855 Chapter 3.1: In Data We Trust (Hayes)
23 May 2018
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In Data We Trust (Hayes)
• IBM found that 1 in 3 business leaders do not trust in the information they use to make
decisions
• Data Veracity
o Volume, velocity, and variety have dominated the conversation about data
o Value, veracity, and viability are the Wanna-V’s
o Veracity is about accuracy ad truthfulness
• Ensuring Veracity of your Data
o Hidden Bias of Big Data: if you have enough data, the number speak for themselves
o Requires minimizing the occurrence of different sources of errors
▪ Sampling method, capitalizing on chance, missing data, research bias and poor
measurement
o As yourself the following:
▪ What is (are) your hypothesis(es)? → help you know why variables are related
to each other
▪ What are your biases? → look for data to refute your beliefs
▪ What is the sample size? → understand sampling error
▪ What is the data source? → scrutinize data to see if its appropriate for the
question asked
▪ How good are your customer measures? → ask for evidence that the instrument
is measuring something useful
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