Shot full of holes – Why statistics and number crunching aren’t everything | Small business news; tips; networking

Posted by UPmarketArt under Strategy
From http://venturebeat.com 4413 days ago
Made Hot by: BusinessBloggerPro on October 8, 2012 4:50 am

Statistics are fun!... Well, not really.

While we're better able to play around with numbers a lot better these days, data without context will always be meaningless - and potentially dangerous!

Read on to learn why understanding the context of data matters!

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Comments

Written by MarkT
4410 days ago

Hey Art,

A very common problem is that there is too much data and people generally don't know what to do with it all. Even though people do everything they can to get their hands on some stats, most of the time they are not useful.

But I wouldn't go as far as to say that all statistics aren't worth your time. Analyzing the right stats can easily help point you in the right direction. The real problem is finding statistics that mean something in a sea of statistics that don't.

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Written by HeatherStone
4410 days ago

Art,

These days business analysts are urged to look for the story behind the numbers, as I alluded to in my earlier comment, and there's an important reason for this. Without interpretation, data becomes either overwhelming to business leaders encouraging them to go on doing what they have been doing or can easily be misinterpreted to reinforce company preconceived notions ending with pretty much the same result.

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Written by UPmarketArt
4410 days ago

Thanks Heather. Not seeing the forest for the trees has been a huge problem at each and every place I've worked. Understanding context seems to be an under-appreciated skill in a lot of places.

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Written by HeatherStone
4411 days ago

Statistics certainly have their place. But all these numbers must be taken in context. What story do they tell? What future course of action can be proposed based on their results and implications? Without filling in the meaning, numbers are only part of a larger picture. Thanks for sharing this post with the BizSugar community.

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