4 Analytical Concepts To Know



The Analytical Concepts Every Professional Should Know.

By Vanessa Richardson

While many professions do not require expertise in data analytics and statistical measures, being an educated and regular consumer of data helps us to get a clearer picture of three things – ‘what has happened’, ‘what is happening’ and ‘what might happen’.  Statistics and analytics are not simply about deriving insights from the past, they also allow predictions about future outcomes and the optimization of business resources.  Statistics have become so prescriptive that if analyzed properly have the ability to significantly drive and support an organizations decisions and needs. 

Tom Redman, author of Data Driven: Profiting from Your Most Important Business Asset, there are essentially four analytical concepts every manager should familiarize themselves with – randomized controlled experiments, A/B testing, regression analysis, and statistical significance.  Simply taking the time to learn and understand the basics of these four concepts can drastically improve direction.  If used appropriately can even help predict human behaviors. 

Randomized Controlled Experiments – in short, this aims to reduce bias. Randomization minimizes selection bias and provides a solid control group.  This type of data collection is considered to be the gold standard, especially when new products are tested.  Many when they hear this terms think of clinical trials however; it is particularly effective when gathering data on things like whether a customer service intervention, improved customer retention, or whether a new (costly) piece of software is more effective than one currently in use.

A/B testing – this is the most common type of testing done and at the most basic level is just way to compare two versions of something to see which performs better. A/B testing is used to evaluate everything from product design to marketing. The critical piece in A/B testing is making sure your test ran long enough to give you enough data to properly analyze.

Regression analysis – once you have the data you need; regression analysis can help make sense of it. Of course, ways in which to analyze are endless but linear regression continues to be one of the most important. It uses math to determine if there is a relationship between to variables.  For example, is there a relationship with the month of January and the number of gym memberships sold.  Regression analysis assists in determining which factors matter most, which can be ignored, and how do they interact with each other.

Statistical significance– this is exactly what it means. However, it is also the concept that is most misused and misunderstood.  It is during this phase when statistics are meant to either prove or disprove.  Statistical significance is what both science and politics relay on.  It is what should help you quantify whether your results and are likely due to chance or the exact factors being measured.  It is during this phase when experience and savviness come into play and when you can become creative in your conclusions.

Data analytics is ultimately about making informed decisions.  It does not matter what your area of expertise or role.  They are merely designed to help us do achieve the goal of staying ahead of ourselves. 

Integrated People Solutions is an executive placement firm in Denver, Colorado, and is part of the Kennedy Executive Network


About Kennedy Executive

Kennedy Executive Search & Consulting is a global partner network of retained search boutiques in Europe, Africa, North America and Asia Pacific with offices in Amsterdam, Budapest, Copenhagen, Denver, Frankfurt, Johannesburg, London, Milan, Monaco, Oslo, Paris, Prague, Sydney and Vienna. The network covers 360 degrees of talent management: executive search finds and assesses the right talent in the market, consulting develops people and organizations. With the addition of Evolve South Africa, Kennedy is now active on 4 continents and in 14 countries and offers a global reach. Between the 75+ consultants and researchers, 30 languages are spoken. As a network Kennedy will run 365 strategic recruitments all over the world this year. Kennedy Executive Search & Consulting helps organizations to achieve their goals and people to enhance their careers every day.




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Simon Roads

Vice President of Sales

Born and raised in England, Simon Roads has had a distinguished career in various forms of aviation spanning over 45 years. His journey began as an A&P mechanic in the Royal Air Force and has encompassed a range of roles, ultimately leading to his position as the VP of Global Sales for Honda Aircraft. Throughout this extensive career, he has had the privilege of closely collaborating with Royalty, Dignitaries, and high net worth individuals, providing them with unparalleled expertise and a steadfast commitment to excellence in aviation services.

Having been immersed in the aviation industry for nearly half a century, his wealth of insights and knowledge has established him as a trusted figure within the field. His extensive experience has provided him with the opportunity to engage with diverse cultures, interacting with individuals from various walks of life, and ensuring that their distinctive requirements and preferences are met with the utmost precision.

One of his notable strengths lies in his adeptness at effectively managing global teams. Over the course of his career, he has demonstrated successful leadership and mentorship of professionals from different backgrounds and nationalities, fostering an environment characterized by collaboration, growth, and mutual respect.

Understanding different cultures has played a pivotal role in his professional journey. By taking part in the customs, traditions, and practices of his clients he not only fosters strong relationships but has also gained a profound appreciation for the unique needs and expectations of each of his clients.

Away from work, his priority is his family. His role as grandad to three wonderful boys, brings him immense joy. He has a penchant for outdoor activities such as cycling, kayaking, and golf. Additionally, he has developed a passion for cooking and continually seeks to learn new culinary techniques. The art of balancing life and work is an ongoing journey for him, and he considers himself fortunate to be able to savor the best of both worlds.

You can contact Simon at sroads@ipeoplesolutions.com

Meredith Stanley

Executive Recruiter

Meredith joined IPS in 2023 as an Executive Recruiter with over 5 years of recruiting experience at Amazon and Lyft. Prior to making the shift to recruiting, Meredith was an Executive Assistant for over 3 years at a Seattle-based insurance company. With a passion for finding top talent, Meredith has hired for a wide range of roles across North America in the hardware, micromobility, operations, transportation, and tech spaces.

After an unsuccessful attempt at a Chemical Engineering degree, Meredith graduated from Oregon State University with a Bachelor of Science in Liberal Studies.

Meredith has a passion for live music, playing both piano and trombone. She also enjoys traveling and spending time outdoors either skiing, hiking or scuba diving.

You can contact Meredith at Meredith@ipeoplesolutions.com

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