The ongoing exponential rise in recording capacity calls for new approaches for analysing and interpreting neural data. Effective dimensionality has emerged as an important property of neural activity across populations of neurons, yet different studies rely on different definitions and interpretations of this quantity. Here we focus on intrinsic and embedding dimensionality, and discuss how they might reveal computational principles from data. Reviewing recent works, we propose that the intrinsic dimensionality reflects information about the latent variables encoded in collective activity, while embedding dimensionality reveals the manner in which this information is processed. We conclude by highlighting the role of network models as an ideal substrate for testing more specifically various hypotheses on the computational principles reflected through intrinsic and embedding dimensionality.
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