The one question all of your data should be aimed at answering
Release Date: 04/21/2022
Discussing data pitfalls across industries and cultures with Darrell McCall
Profit is a Science
Darrell McCall has done it all: he has been an executive in education, healthcare, finance, and has done so not only in the United States, but across the globe, running his businesses while living in China for 7 years. We sit down with Darrell to gather his unique perspective on the types of pitfalls that he sees with regards to data collection, analysis, and insight implementation across these wildly different industries. He shares his insights that only an executive would know in a variety of industries and cultures that is unparrelleled.
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How to Set Goals - the Optimization Metric of Your Own Algorithm
Profit is a Science
Data science allows us to create effective solutions because we can optimize one particular metric. By taking this same approach to goal setting from a personal or professional standpoint, we can maximize the utility of these goals to generate more productivity.
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The Opposite of Correct is NOT Incorrect
Profit is a Science
A common misconception is that conclusions we have that are not correct will always be incorrect. This is not the case! In this episode, discover the true opposite of "correct", how our human nature impedes our ability to identify truly correct conclusions, and what practical steps we can take to leverage big data to optimize and streamline our decision making.
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Optimize the likelihood of achieving your goals
Profit is a Science
The question you should always be asking yourself when analyzing data is "What can I do to optimize the likelihood of achieving my goal?" In this episode, we'll focus on how to set that goal, the parameters that must be included, and the lessons we can learn from data science to help us optimize our analytics processes.
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The one question all of your data should be aimed at answering
Profit is a Science
There is no shortage of data in the information age. The problem is knowing how to quickly identify the relevant data and use it properly to have real impacts on your business. Learn the 4 steps to take when viewing ANY data set and the one question you should focus on answering.
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Bear Markets Are Bullcrap
Profit is a Science
We know that biases negatively impact our decision making, so we stay on the lookout for them and offset them accordingly. Narratives, such as "We are in a bear market", pose challenges to our decision making and go largely unnoticed. Learn how to recognize narratives and transform them into actionable intelligence that drive profits.
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p-values, Brian Flores, and how to objectively evaluate your hiring practices
Profit is a Science
Brian Flores grabbed headlines when he accused the NFL of discriminatory hiring practices. This is a contraversial topic that is understandably emotional and can impact any and every organization. The scientific method offers a way to determine objectively whether this is going on in your organization. Learn about how to set proper evaluation metrics ahead of time, and how you a 2-minute exercise in excel can provide actionable intelligence as to whether change can lead to hiring better talent.
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Pilot - the Secretary's Problem, and the Scientific Method
Profit is a Science
You want to hire a new secretary. Accept a candidate too soon, and you'll miss out on someone better. Wait too long, and the good candidates will have moved on. What do you do? We'll show you how math can provide a conclusive answer, and demonstrate how utilizing the scientific method in your investing decision-making process saves you time and money.
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