Skip to content
Sem 5 Prep
← BI & Data ScienceWhat business intelligence and data science are

Formulas for this chapter

Mean of a column

mean = SUM(values) / n Excel: =AVERAGE(range)

Turning raw data into information, the second rung of the DIKW ladder. Always check the answer lies between the smallest and largest values.

SUM(values)
Total of every observation
n
Number of observations

Growth and uplift percentage

growth % = (later - earlier) / earlier x 100

Comparing two periods or two groups. The denominator is always the figure you are comparing against; swapping it changes the answer.

later
Value of the newer period or the group being described
earlier
Value of the base period or the reference group
Step 1 of 25
The ideaTheory

The till roll on the counter

A tea shop prints a till roll every night. Seven numbers, one per day. On its own it is just paper.

Add them up and divide by seven and you have an average. Notice that Saturday and Sunday are always the biggest two and you have understood something. Put an extra person on the counter at the weekend and you have acted on it.

That short walk, from paper to action, is the whole subject. Business intelligence is the machinery that makes the walk repeatable.

← BackContinue →