How to correctly analyze information, methods of data processing and analysis

In today's world, where everything changes so quickly and information is easier to find than ever, you don't need to memorize encyclopedias to be effective at work. Now it is not the information itself that is valued, but the ability to search for and process it. We have collected for you some tips on data processing that will help you save time on searching, filter out fakes and draw the right conclusions.

Working with information includes three main stages: searching, processing and presenting results.

Data Search

Nowadays, there are a huge number of sources from which you can draw information. This is the Internet, databases, experts, various studies, etc. The most important thing is not to get carried away and hang on to every word. To paraphrase Pareto's law, “20% of the effort produces 80% of the results.” This law, like no other, applies to working with data. Think in advance about what information will be key for you and concentrate on finding it. There is a long-standing debate about the relationship between qualitative and quantitative methods when searching and analyzing data. Which ones should be used at the beginning and which ones at the end? Most often, it is better to first use qualitative methods (the stage of constructing a hypothesis about possible ways to solve the problem), then quantitative ones (the stage of confirming it). But this approach is not an axiom, so always look at the situation.

Search for information

There are several resources you can use to find information:

internet in general
Database,
experts,
various studies,
social networks and blogs;
data from the media, etc.;

The information search algorithm can be built according to the Pareto principle, according to which “20% of effort gives 80% of the result”: first we determine what information we need (we set a hypothesis), then we select search channels and begin searching for information to test the hypothesis in practice.

Collecting information from publicly available sources can be called a lean way of collecting information (without time and money costs), compared to interviewing primary sources. In addition, with the help of such sources, you can effectively prepare for interviews with experts who will serve as the primary source of information.

It is better to consolidate the information received into a single file; this can be a convenient Google spreadsheet.

Search algorithm

The general scheme for searching for information is quite simple: start with the simplest sources and gradually move on to more labor-intensive ones:

Before you start your search, it's good to know what exactly you're looking for. So try to find similar projects and delve into the topic.
Look at the big picture and formulate questions. The search space may be too wide, so set boundaries.
Arrange an initial meeting with an expert to determine the direction of work.
Collect detailed information from open sources. This is the most important and voluminous part of the work.
Conduct a second meeting with an expert, clarify the accumulated questions.
Done: you have a relevant picture of the problem.

Working with open sources

The most accessible source of information is the Internet. But in the vastness of the Internet you need to be careful and not trust everything you find. When using search engines, try to carefully filter information and learn to write concise queries, using exactly those keywords that will lead you to the necessary resources. You can also use news services. Consulting often uses proprietary databases, such as BCG's Press Search. Databases from major universities and international organizations can also be useful. This source is more useful than search engines, because only verified and authoritative information is collected there. Presentation sites like Slideshare or Scribd can sometimes help, too. Also pay attention to company reports, various statistical resources, marketing research (they will allow you to quickly immerse yourself in the industry) and research from investment banks (data sources are always indicated there, and the information is of very high quality).

How to get information from an expert

Here everything is a little more complicated: you still have to work with a person, and not with a machine. Before the meeting, be sure to conduct an independent educational program to feel confident and at least not ask stupid questions. If any of your colleagues have already met with this person, find out what issues they discussed. Experts hate it when they are asked about the same things a hundred times. However, it doesn’t hurt to make sure that your expert really understands the topic. Read about him, look through his works. Detective Columbo from the series of the same name had a trick: he always left the most important question for last. Consultants often do this too. At the very end, when you are already at the door, and the expert (client, colleague - whoever) has relaxed and ordered a taxi, take him by surprise with an unexpected and important question. In this state, he will either automatically answer honestly, or you will easily understand that they are not telling you something. However, if serial maneuvers are not for you, end the conversation with an open-ended question: “Is there anything important that I haven’t asked?” This is quite normal practice. Remember that it is always better to ask open-ended questions to allow the expert to talk as much as possible and share with you all the information he knows. When seating yourself in a meeting, always give the expert the most comfortable and honorable seat to show respect. Often people instinctively sit opposite each other, but this position resembles a “wall to wall” fight, and you automatically become rivals. If the meeting format is not one-on-one, a member of your team can sit on the client's or expert's side to defuse the situation. Be tactful and act depending on the situation. Always ask permission to take notes. It is better not to use a voice recorder. This can alert a person: he will begin to speak less confidently, trying not to blurt out too much. In any case, keep in touch with the interlocutor and do not get too carried away with notes, otherwise he will think that he is communicating with a stenographer. Over time, you will learn to capture all the information using a minimum of notes. Create your own keywords, abbreviations, and other techniques to make your entries more concise. Some experts like to draw diagrams or write abstracts when explaining something. Ask to use their notes after the interview. Firstly, it can really come in handy, and secondly, it is also a kind of sign of respect. If the expert moves away from the topic, you can tactfully interrupt him. At the end, briefly go over the points you discussed so that your interlocutor can correct you if you make a mistake. After the meeting, do not forget to write a thank-you note to the expert to strengthen the contact. Who knows, perhaps you will need his help more than once.

Resistance to stress

It is no secret that when a person has the ability to cultivate a state of mental balance, it is easier for him to live in this world. Therefore, it is extremely important to learn how to maintain self-confidence in the most difficult situations. Whatever happens, remember that you alone are responsible for your reaction. It’s no one else’s fault that you haven’t learned to control yourself and can’t sleep a wink the night before an important event. Analyzing is definitely a useful skill. Especially when it comes to your future. To take the necessary steps easily and freely, you need to let go of any fear of failure.

Almost all people tend to invent worries for themselves; fears are often unfounded. But if you overcome yourself once or twice and do something that will lead you to a new stream of well-being, this will become your new victory. And the more significant achievements we have in our arsenal, the sooner and more confidently you can move forward.

Data processing

Now that you have collected information, you can move on to the next stage - data processing. It consists of two parts: quality control and analysis. First you need to evaluate how well the information meets four criteria:

Completeness. Check if you have all the necessary data.
Relevance. Make sure all the information you find is up to date.
Credibility. Compare information from several sources. Use only the correct data. If in doubt, consult an expert.
Relevance. Soberly evaluate the information you find and see if there is any unnecessary data in it.

Check the data for common sense - conduct the so-called Sanity Check. This is a simple test that allows you to quickly evaluate a solution, conclusion, or premise. Its purpose is to immediately track down an obviously false result. You can compare this with how market-sizing problems are solved in consulting. Quick calculations based on assumptions often produce fairly accurate results, so do not underestimate this method of processing information. After you have checked the data, you need to process it and analyze the information: understand the relationships and draw conclusions. Let's start with the banal: when starting analysis, you should firmly define what, how and why you will analyze. You should always approach working with information with ready-made hypotheses and a clear idea of what this information will give you. Analysis consists of testing hypotheses and their further confirmation or refutation. Beware of data paralysis, where too little or too much information can confuse your team. While working, pay attention to the limitations in both the amount of information and time, so that you have time to do a Sanity Check before proceeding to use the analysis results. To facilitate information processing, there are three types of analytical assistants: general approaches, specific frameworks and graphs.

How to develop analytical thinking: polishing the edges of your intellect

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Greetings, dear friends! I am with you, Yuri Okunev.

Do you always achieve your goals? Are you following a clear plan to realize your dreams? Do you think about every step or do you prefer to act at random? Let's talk about how to develop analytical thinking - the presence of this ability is the main condition for the success of many businessmen and politicians.

What is analytics?

“Logical thinking”, “analytical abilities” - how often do we hear these phrases. For example, when applying for a job, it is becoming fashionable to find out whether an applicant has analytical inclinations.

Can you explain what “analytics” is?

Therefore, analytical thinking is the ability to analyze (a situation, a phenomenon) by dividing the whole into parts, comparing and generalizing.

Of course, an employee who can analyze the situation and make rational decisions is more profitable for the employer than one who is used to working according to orders.

From a young age

Whether we like it or not, we have to think analytically at almost every step. At school, a whole range of exact sciences studied, such as mathematics, physics, geometry, are built specifically on the development of analysis skills.

And other subjects, for example, geography, are not so easy to teach if you do not use analytical techniques. To memorize a theoretical definition, you need to take it apart, comprehend it, and compare it with what you read earlier. Only in this case will the new material be well and firmly absorbed.

In everyday life at home and at work, we constantly deal with tasks that require the ability to analyze.

Housing problem

For example, this situation. A young family lives in the same apartment with their parents, dreaming of their own home. Question: how to purchase it?

You can take out a mortgage, but then you will have to work out a large amount of money for a long time.
Another option is to give birth to your first and then second child, and buy housing using maternity capital funds.
The third option is to ask relatives for help. In this case, the relatives must be quite rich and compassionate, which is extremely rare at the same time.
The fourth one is to buy a plot of land near the city, build a 3x6 meter trailer with two salaries and start living. Every year, add the same area until you are completely satisfied with the size and comfort of the home. “With my dear one, heaven and in a hut.”
Fifth, sixth and seventh - think of it yourself.

To choose the optimal way out of the situation, young people will have to weigh all the pros and cons, compare and choose the least of all evils. If they think through the situation carefully and draw up a realistic plan of action, they will probably celebrate their housewarming very soon.

I will note in the margin that the wording of the question determines the answer by 50%. In our example, housing rental options were not even considered.

Analyst algorithm

Is there a universal mechanism, a procedure that allows you to make correct decisions in any specific situation, using the analytical ability of thinking?

Perhaps there is:

We formulate the goal as clearly and specifically as possible.
We divide the situation into parts or determine possible directions for finding an answer, a point of view on the problem.
We are looking for solutions in each of the resulting directions.
If there is not enough information, we try to guess the missing “pieces” based on intuition and the laws of logic, or find them in available sources.
We evaluate and compare the results obtained. We combine if necessary.
We choose the most promising direction or solution.

The essence of the algorithm is simple: collect as much information as possible, analyze and draw conclusions, choosing an effective solution. But how often do we use such a scheme in life?

Some of us do this all the time - as a rule, these are people who have a developed analytical mindset. Others don’t bother themselves with any analyzes or conclusions at all, but simply implement the first option that comes to mind.

And the problem is not that the former are “good” and the latter are “bad.” We all just have different ways of thinking. How to determine if your analytical skills are developed?

Speech test

A person’s type of thinking is very clearly demonstrated in his speech. An aptitude for analytics can be determined by the following characteristics:

Clear, intelligible speech;
Well-structured sequence of statements, completeness of phrases;
The presence of semantic blocks, structure;
The ability to follow a logical line of presentation without being distracted by details or deviating to the side;
The ability to ask leading questions to the interlocutor or audience in order to lead to the desired topic;
The presence in the conversation of logical connectives “in this case”, “in case”, “in addition” and so on;
At the end of a speech or conversation - a brief summary of general results and conclusions.

If by many points on this list you recognize yourself and your way of speaking, this is a good sign, you are an analytical person. If you didn’t find out at all, don’t be upset. You can develop your analytical skills.

Developing the ability to analyze

In childhood

School education includes a huge number of methods for developing children's analytical thinking. All exact sciences studied in lessons are based on analysis. Other subjects also use elements of analytics.

For example, to write an essay on literature, you need to be able to analyze the work you read; In order to have a good understanding of the subject of history, you also need to be able to analyze and evaluate historical events.

Conclusion: increase your child’s interest in learning, do not be lazy to check how he completed his homework.

It would be very good to start a tradition in the family of solving logic puzzles, rebuses, charades together, and periodically organizing chess competitions.

Computer games - quests and strategies - also develop analytical skills well. Of course, provided that the child does not sit in front of the monitor from morning to evening.

The following exercises are suitable for adults:

Model various life situations and analyze them from an analytical point of view. An example of such a situation was given in the first part of this article;
Make friends with the games of chess and mahjong;
Read more. Classic books make our minds work primarily in an analytical way;
Keep a diary in which you regularly write down current goals and objectives, as well as record the results obtained;
When watching TV shows and news releases, criticize all new information, try to give your personal assessment of events and facts.
Use online applications to develop logic. The Brainapps service provides excellent opportunities for this. Suitable for both adults and children.

conclusions

Analytical thinking is, first of all, the ability to find the fastest and most effective solutions to any life problems. By developing this skill, we learn to save our time and energy, and therefore achieve the greatest achievements at the lowest cost. The only thing you need to do for this is to force your brains to work at full capacity.

Develop yourself, friends! And be the first!

Let's draw the line here. Leave comments, share your impressions and new information with friends, and don’t forget to subscribe to blog news. All the best! Best regards, Yuri Okunev.

Information processing methods

Common approaches are ranking (aka prioritization), matrices, scenario approach, investment analysis, segmentation and risk analysis. The first three methods are used in almost any type of analysis, so mastering them is a must. The remaining three are used to solve specific problems. For example, segmentation helps categorize companies, and investment analysis is used to compare costs to expected returns. Specific frameworks include, for example, Porter's five forces, SWOT analysis and return on capital employed analysis. They help to understand the key idea behind strategic decisions. By the way, young consultants love to use SWOT analysis absolutely everywhere, but in fact this method, although useful, is not as applicable as it might seem at first glance. Everything is clear with the graphs. It is the best tool for visualizing large amounts of data. Returning to the beginning, remember that analysis is not an end in itself. You need to test hypotheses, so don't start analyzing data until you understand what it should lead to. This way you will save a lot of time and effort.

Result presentation

In order to make a high-quality presentation of your research, you need to master only one principle - the Minto pyramid. This simple tool consists of grouping ideas into clusters that support and reveal the main thesis. We start with the key problem, move on to supporting arguments, and end with details. As Barbara Minto, the first female McKinsey consultant to develop this principle, herself said, “Writing something clearly and understandably means taking two steps. The first is to determine the goal, the main idea that you want to convey to the reader, the second is to express this idea in words or in writing.”

Interpretation of works of art

Even if you are not an analyst by nature and do not have the habit of thinking deeply about the material you read, it will be useful for you to acquire the skill of “reading with a pencil.” What does it mean? When you read a book, mark points of interest so that you can return to them later. This action is necessary in order to find the meaning of what is happening in the book, to find the origins of the problems and difficulties of the characters, and to notice their individuality.

You can read any literature, the main thing is that it makes you immerse yourself in thought. Studying artistic and classical works is perfect - the wealth collected over centuries contains everything necessary for the comprehensive development of the individual. That is why children at school are taught “time-tested” creations that can bring significant benefits. But reading a great book is not enough. You need to be able to correctly understand what the author wanted to convey to readers.

Lifehacks

Use special reading techniques. Everyone has practiced in-depth reading and reading-scanning at least once in their life; there should be no problems here. There are differing views on speed reading. Practice shows that you can do without it, but to increase your efficiency, try to master this method. You will be helped by specialized applications based on spritz technologies (words are displayed on the screen one at a time to reduce the time it takes your eyes to move through lines) and Blankist (the program splits texts into parts, each containing the main idea, which you can read in just a couple minutes). To speed up your work, learn to type quickly. There are many programs for developing this skill: “Keyboard Solo” - for Windows, KeyKey - for Mac OS, or the online trainer “All10”. One final piece of advice: Always consider at least seven options when choosing anything, be it a refrigerator or a career path.

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