Covid-19 vaccine trials are a case study on the challenges of data literacy

It's dangerously easy to misinterpret data, especially when it's reported in percentages rather than absolute numbers. The author showcases a number of dangers by focusing on the vaccine-efficacy results reported in November of 2020. He then shows how similar dangers can apply in business contexts, and offers three main lessons for managers hoping to make good decisions using data: be wary of big data, be wary of precision, and beware of post-diction.