What role does effect size play in the interpretation of your test results?
When delving into Business Intelligence (BI), you'll often conduct tests to glean insights from data. In interpreting these test results, it's crucial to understand not just whether a finding is statistically significant, but also the magnitude of the observed effect. This is where effect size comes into play. It's a measure that quantifies the strength of the relationship between variables or the extent of an intervention's impact, providing a clearer picture of practical significance. Without considering effect size, you might overlook important findings or overestimate the importance of trivial ones.