Author: EconLearner

This is no longer the case. Today, AI tools and workbenches allow you to click through some pretty advanced modeling techniques, with no coding or programming language knowledge required. This certainly does not mean that everyone can be a data scientist. But business professionals today can have AI at their fingertips to make data-driven projections. Sometimes, it’s as simple as clicking a button that says “prediction.”To put this in perspective, let’s look at the four phases of data analytics technology for the business—three that got us to this point and one for what’s next.Phase 1—Simple data managementFor years, businesses have…

But many data visualization gurus advocate a different approach. One method, called decluttering, involves making charts look clearer so that the audience can more easily process the information. Another method, called focus, highlights the information or trend the presenter wants the presenter to notice—for example, by making one line red and all others gray.Steven Franconeri, professor of psychology at Northwestern and professor of marketing at Kellogg (courtesy), and his colleagues wondered if these techniques really worked. Did decluttering or focusing help the presenters get their message across?In a study with college students, they found that using the two methods in…

On digital job platforms like Uber, TaskRabbit, and Upwork, this rating system is applied to individual workers—with huge consequences for those being rated.”It sorely lacks the variety and texture that exists in a work interaction,” she says Hatim Rahman, assistant professor of management and organizations at Kellogg. And employees tend to see the downsides of an overly simplistic appraisal system very quickly, adds Rahman: “They start saying, ‘Hey, this doesn’t make sense. there are so many cases where the rating someone leaves doesn’t accurately reflect what’s going on in the context of my job.”Perhaps employees would reject low ratings that…