Part II

The Three Pillars of Best Statistical Practice

When corporations struggle with business analytics, it can be due to chronic deficiencies with decision making or data analysis. We can meet these challenges with a strong infrastructure: Statistical Qualifications (Chapter 7), Statistical Diagnostics (Chapter 8), and Statistical Review (Chapters 9). One of the benefits of a strong infrastructure is in establishing the appropriate level of rigor. We struggle with estimating how accurate and how reliable we need our results to be. Also, we occasionally need to justify how much rigor we propose for solving a business analytics problem. One strategy ...

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