We
are constantly bombarded with data in all sorts of different
formats. But data is only useful for decision making when
it has been turned into information. What does the conversion
process from data to information involve?
 Understand.
First the data must be compiled, consolidated, understood
and organized.
Model. Next the data needs to be summarized, tabulated, graphed,
trended, modeled and explored from different angles and perspectives.
Interpret.
Lastly the models need to be interpreted. The questions that
the organization is asking need to be addressed. The story
that the analysis is telling needs to be uncovered and communicated.
The conclusions and recommendations that can be drawn must
be elucidated.
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