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Curating data to drive business decisions

Companies can counter the problems created by ambitious, fake or misused data by adopting a three-pronged approach: moderation, management and transparency.

Unlike social media, where fake news is used to sway public opinion, misinformation in a business context could mean that those responsible for developing the insights have insufficient data, insufficient skills, or they are intent on proving a pre-existing hypothesis.

IN GOD we trust, all others must bring data, is a line attributed to the American statistician W Edwards Deming, and highlights the importance of statistical measurement and analysis in verifying facts and confirming their viability. However, as the volume of data grows exponentially, this...