Data and Data Analysis:

The relationship between data and analysis can be described using soccer as an analogy. Data describes where the ball is now; analysis helps predict where it will be next. Value is derived from having foreknowledge of where the soccer ball will be later.  Conclusion:  If you really want to add value, learn how to apply quantitative analysis tools (more than just graphs).

Using Approximations:

Using an approximation as an absolute is a risk that can be mitigated. The process of decision-making many times needs to use approximations because waiting for certainty may be a lengthy proposition. Because absolutes are typically rare or take too long, approximations are a necessity. I suggest adding risk mitigation in the form of a feedback loop to all decision making processes. Feedback loops will allow you to refine the original decision based on data when needed. Feedback solves a number of common management problems (including some which aren’t related to decisions based on an approximation like changes to the environment).  Conclusion:  A decision-making process with out a feedback mechanism is  . . . just silly.