The Analytics Power Hour

#244: Data Is Everywhere. Why Do We Limit Ourselves by Default?

Apr 30, 2024

Jason DeRise shares stories on using alternative data for analyses, including tearing down a Tesla. The episode explores the power of diverse data sets and methodologies, emphasizing the value of unconventional sources. It discusses challenges faced during the pandemic, data acquisition for business decisions, transitioning into the insurance sector, and the benefits of data meetups and mathematical decision-making. The chapter also includes humorous anecdotes and insights into data analysis and interpretation.

01:01:18

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Episode guests

Jason DeRise

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Episode notes

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Quick takeaways

Exploring alternative data sources can enrich analyses and provide unique perspectives beyond traditional datasets.

Being early and adaptable in data analysis offers a competitive edge in dynamic environments like financial markets.

Articulating desired outcomes and uncertainties is crucial for tailoring data analysis approaches to extract meaningful insights.

Deep dives

Exploring Unconventional Data Sources

In the podcast episode, the discussion delves into the importance of considering data from unconventional sources, rather than solely relying on familiar tools like digital analytics platforms. The conversation highlights the potential limitations of sticking to standard data and emphasizes the value of exploring different data sets to broaden the scope of analysis and tackle new questions. Using examples from the financial sector, the episode showcases how thinking outside the box with data collection, such as analyzing satellite imagery of tank depths for trade insights, can provide valuable and unique perspectives for decision-making.

Introduction

2min

Exploring Unconventional Data Sources for Business Insights

9min

Exploring Financial Analysis and Market Puzzle-Solving

3min

Navigating Data Challenges and Insights During the Pandemic

24min

Navigating Data Acquisition Challenges for Business Decisions

9min

Transition to LMI: Embracing Data Science in the Insurance Sector

3min

Data Meetups, Mathematical Thinking, and Alternative Browsers

8min

Humorous Event Recount, Promotional Mention, and Acknowledgments

3min

Exploring Data Analysis and Interpretation

2min

In order to produce a stellar analysis, have you ever requested a team to teardown a Tesla and count every last washer and battery cell? No? Well our guest this week, Jason DeRise, joined Tim, Julie, and Val to share that story and others on how alternative data can be used to enrich analyses. Luckily you don’t have to have a Wall Street-sized budget in order to tap into the power of alternative data. Looking just outside your tried and true data sets and methodologies to see how you might be able to add to your mosaic of understanding a business question can be powerful! In this episode we talk about some of the considerations and approaches when you put down that hammer and see the world around you is more than just a bunch of nails. For complete show notes, including links to items mentioned in this episode and a transcript of the show, visit the show page.

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The Analytics Power Hour

#244: Data Is Everywhere. Why Do We Limit Ourselves by Default?

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Exploring Unconventional Data Sources

Early Advantage and Adaptability in Data Analysis

The Process of Data Exploration and Insight Generation

Using Early Adopters as Social Proof

Optimizing Budgets and Strategic Data Collection

Remember Everything You Learn from Podcasts