Archive for June 12th, 2009

Floating Bubbles on the Bubble Chart

Friday, June 12th, 2009

About ten years ago I collaborated with Mark Peck (currently president/CEO of ApexxGroup, LLC) on visual representation of customer buying behavior analysis. At the time we thought we were pretty clever since we were able to make effective use of bubble charts to compare changes in customer retention, defection and overall value at a decile-by-decile basis.  Our clients loved the work since it reduced large tables of mind-numbing numbers to simple graphics that focused attention on the critical patterns. On limitation of our charts is that they only compared two years of data so it was difficult to show changes over longer periods of time.

Today Mark shared this TED video.  It’s a few years old but the interactive nature of these relatively standard bubble charts makes for a powerful presentation.  Rosling used software created by his affiliate gapminder.org. Though we didn’t have that ten years ago, it now occurs to me that we could have simply used a PowerPoint slide presentation to accomplish a similar effect.

In addition to the great graphics, Rosling is both entertaining and thought provoking.  Your thoughts?

Source: TED: Hans Rosling shows the best stats you’ve ever seen, Feb, 2006

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Statistics – The Sexy Job of the Next Ten Years?

Friday, June 12th, 2009

I just stumbled on a great article published at The McKinsey Quarterly earlier this year. In it, Hal Varian, Google’s chief economist, urges executives to sharpen their understanding of analytics and the relationship between technology and innovation.  Buried in the article was this quote:

I keep saying the sexy job in the next ten years will be statisticians.
People think I’m joking, but who would’ve guessed that
computer engineers would’ve been the sexy job of the 1990s? The
ability to take data—to be able to understand it, to process it,
to extract value from it, to visualize it, to communicate
it—that’s going to be a hugely important skill in the next
decades, not only at the professional level but even at the educational
level for elementary school kids, for high school kids, for college
kids. Because now we really do have essentially free and ubiquitous
data. So the complimentary scarce factor is the ability to understand
that data and extract value from it.

Well…maybe there’s hope!

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