From the course: Economic Tips for Everyone

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Choosing the right data analysis program

Choosing the right data analysis program

From the course: Economic Tips for Everyone

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Choosing the right data analysis program

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- Whenever you're working with data, you have to choose how you're going to analyze it. For some people, Excel may be sufficient, but for others, they're eagerly awaiting the commercialization of quantum computing. The most important thing to prioritize when you're doing analysis is that the software you're using is both necessary and sufficient. By that, I mean the software needs to be good enough to get the job done, but it doesn't need to be stronger. For example, the program I use when I'm doing statistical analysis is Stata. It's a lot more powerful than Excel, which is what I needed. Of course, there were other options that I considered, but some of them were a lot more expensive, like 10 times the price of Stata, and that's not something that I needed. As you consider the analysis you need to do, pick the software and technology that will help you get the job done, but don't go overboard.

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