Week 7, Day 2
Theme: The S Word
This week's theme is statistics - yes, the dreaded S word. This is what is at the heart of the mechanics of analysis. So assuming that you have a reasonable grounding in basic stats, this week we will look at some of the current issues raised when stats is applied in the real world.
READ Today's task: Why statistics rule
Key takeout: Stats matter and you cannot be an effective analyst without a solid grounding in the subject. Most will be familiar with the book Moneyball by Michael Lewis - now an apparently very good film starring Brad Pitt "the man who made statistics sexy". Moneyball is the story of US baseball team Oakland A's general manager Billy Beane's successful attempt to put together a baseball club on a budget by employing computer-generated analysis to draft his players. This article shows how fundamental stats have become to sports - in this case in Australian AFL. Remember - this article is from 7 years ago, so it's more historical record than news now. Why should we care? Because the AFL is just one example among many industries where stats is an essential tool of management. In a way this is the justification for the whole of the CORTEX and this refresher course.
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