The Modeller's Miscellany - #62

$20bn BI market vs the spreadsheet.

· Modellers Miscellany

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Article // $20bn BI market vs the spreadsheet.

Kloudio recently released its 2021 Data Driven Decision Making Report, surveying more than 4,200 business professionals about the use of data and data tools in their organisations. 

The survey found that, despite a $20 billion Business Intelligence market, 84% of professionals prefer the familiarity of spreadsheets like Google Sheets and Microsoft Excel for last-mile analysis. Read more.

Book // Noise.

Doctors are more likely to order cancer screenings for patients they see early in the morning than late in the afternoon. If employers rely on only one job interview to pick a candidate from among a similarly qualified group, the chances that this candidate will indeed perform better than the others are about 56 percent to 61 percent. Somewhat better than flipping a coin, but hardly a fail-safe way to make important decisions. 

These inconsistencies are all about noise, which Kahneman, Sibony and Sunstein define in their new book, "Noise" as “unwanted variability in judgments.” Whereas bias is systematic deviation, noise is random scatter. They are two different components of error in human judgement. 

Many business books contain one simple idea and 100 examples. Not this one. As you might expect from the author of Thinking, Fast and Slow, Noise is systematic and worthwhile look at the sources of error in decision making. Highly recommended. Kenny. 

Article // How can you tell if someone is struggling?

If any good can come out of the last year, it might be a heightened awareness of mental health in the workplace. This interactive article from the BBC will help increase your awareness of whether those around you are struggling. 

Podcast // Lying in multiple dimensions.

It's hard to imagine that an audio podcast about data visualisation would be any good. After all, data visualisation is an inherently, well, visual topic. But this episode of Seth Godin's Akimbo podcast is just that. And remarkably, it's worth a listen.

Event // Speakers list taking shape for Financial Modelling Summit.

We are filling up the sponsorship and speaker slots for the Financial Modelling Summit. And the nominations have started coming in for the Financial Modelling Awards. It's shaping up to be the best event for financial modellers in 2021. Super early bird discount available from May 25th - June 3rd. 

The Modeller's Miscellany Jobs

Financial Modeller - Mainstream Renewable Power - Dublin

Manager, Project Finance - AMEA Power - Morocco

Analyst, FP&A - Licensing Finance - Spotify - New York, USA

Junior Analyst - Inspire Impact - Sydney, New South Wales, Australia

Investment / Financial Analyst - PowerTree - London, UK

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