E052 - Understanding and Using Data to Make Better Business Decisions in Business with Kevin Hanegan

From MD to Entrepreneur with Dr. Pranay Parikh

Data-driven decisions are essential for businesses seeking to remain competitive and
successful in their respective markets. With a wide range of data sources available, business owners can better understand their customers and develop strategies based on insights gleaned from the data. Kevin is a leading voice on this topic if you want to learn how to make smarter, more intelligent decisions with data.
Kevin Hanegan is the Chief Learning Officer and data literacy pioneer who has been at the forefront of the data literacy movement since its inception. He led the way in establishing the first data literacy framework and program to educate today's workforce on the essentials of data-informed decision-making and decision intelligence. His passion for bringing critical skills to everyone has driven him to be a Chair on the Advisory Board of The Data Literacy Project, a frequent guest lecturer and podcaster, and has written several books on the subject.
In this podcast episode, we talk all about finding the right data, how to get rid of the stuff that doesn’t matter, and the different biases that affect how we look at data.
Key Highlights from the Show
[00:01] Episode intro and a quick bio of the guest, Kevin Hanegan
[01:27] The interesting concept of data
[04:18] Kevin’s backstory and how he became a chief learning officer
[07:30] Confirmation bias and how people have fallen into that trap
[10:14] The best ways to overcome confirmation bias
[14:49] How do you objectively look at data without leaning on one side
[18:33] Why you should not hire people who think like you
[20:01] How to filter the right data for you as an entrepreneur
[22:14] Where to get the much-needed competitive data as a startup
[24:22] How Kevin created critical thinking in systems
[30:10] How much time should everyone intentionally set aside to learn new skills
[34:23] Other types of common biases when it comes to data
[37:22] What Kevin wishes to have put more resources into his entrepreneurship journey
[38:02] Best ways to reach out and connect with Kevin
Notable Quotes
● When we talk about data, it’s not just about maths, statistics, and numbers. Actually,
data is evidence, information, and text that speaks more than we can ever imagine.
[01:28]
● Just because you see something in the news or in an article that tells you an answer,
that doesn’t mean it is the right answer. There’s always something else challenging it.
[10:14]
● Data does not lie. It is always right, but your interpretation of it may be skewed. [14:53]
● If you hire people who think like you, you will never be as innovative as you would be.
[18:33]
Connect With Kevin Hanegan
Website: https://www.kevinhanegan.com/
LinkedIn: https://www.linkedin.com/in/kevinhanegan/
Twitter: https://twitter.com/kevinhanegan/

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