Data is expensive

The metaphor is pretty clear: more data isn’t always better. In fact, in many cases, it’s a costly distraction or even a chance to get the important stuff wrong.

Here are the three principles:

First, don’t collect data unless it has a non-zero chance of changing your actions.

Second, before you seek to collect data, consider the costs of processing that data.

Third, acknowledge that data collected isn’t always accurate, and consider the costs of acting on data that’s incorrect.

Strip away all insignificant digits.

Source: Data is expensive

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