Data Analytics

Descriptive Statistics

Descriptive Statistics: Based on a simple and relatively small dataset, provide essential summary information and visualization of this dataset (500 richest people in 2021).
• Finding relevant descriptive variables is perforce a creative endeavor – try different things, and “see” what works best
• “Works best” here translates into highlighting the most poignant characteristics for this group
• Context is King: data only become relevant in context – what are suitable and useful yardsticks to compare against?? Industry, Geography, etc.
• Optional reading: https://tombreur.wordpress.com/2016/08/31/context-is-king/