Then the data got amplified. Three grand essentials to happiness in this life are something to do, something to love, and something to hope for. I called another agency. A made-up story or report has been invented and is untrue: 3. very happy…. You’ll do your best to market the benefits ethically while still emphasizing your strong points. You pick out the answers that support your findings and leave out the ones that don’t support it from your report. Famous Quotes about Statistics To call in the statistician after the experiment is done may be no more than asking him to perform a post-mortem examination: he may be … Miguel de Cervantes, Statistics Numbers Quotes. How is it skewed? Charles Babbage, While nothing is more uncertain of the whole piece. In 1999 I was in Japan doing a strategy project for the board of directors of Sony. The quotes about Statistics Adam Levine. - Also common is that the survey itself asks questions in a way that leads the responder to a specific answer. I had reports from Gartner Group, Yankee Group, IDC, Goldman Sachs, Morgan Stanley and a couple of others. BOMUS.org is your one stop source for instantly made up statistics. As long ago as 1889, Carroll D. Wright (a prominent statistician) said, “The old saying is that ‘figures will not lie,’ but a new saying is ‘liars will figure’.”. But what worries me much more is skewed data. We were looking at all sorts of strategic decisions that Sony was considering, which required analysis and data on broadband networks, Internet portas and mobile handsets/networks. “Big data isn’t about bits, it’s about talent.” – … And What Does this Mean for the Future? It’s already changed the way most businesses and governments think and operate. In data analysis you want to look for “primary” research, which means the person who initially gathered the data. Nobody was surprised. 63 of all statistics are made up… including this one — “Dilbert” quotes and phrases Obviously try to derive data that is as accurate as possible. So, where is this all coming from, Mark? with the abstractions — Gunter Grass. They got the data feed either from the research company or from the investment bank. How to Talk About Valuation When a VC Asks, Why you should never have a data room — the most counter-intuitive fund-raising advice you’ll ever…. better known by his pen name Mark Twain, We must be careful 50 Thoughtful Forgiveness Quotes – Forgive & Forget! The quotes are sorted in chronological order by the birth date of the author. It is very common for firms (from small ones to prestigious ones) to take data and use it conveniently to make the point that that want to make. than those And this data subtly sinks into the psyche of your company. That's very rude," Myrnin said. Numbers are important. Welcome to my page of quotations about statistics. They took the data from the analysts. I was in the midst of sizing the mobile handset markets in 3 regions: US, Europe and Asia. What Should You Send a VC Before Your Meeting. They were as hoodwinked as everybody was. William James, Statistics show Peer review is especially valuable for picking up on any issues that may have inadvertently arisen with the research methods or results. The stats are often quoted from the latest reports. but statistics are pliable. The bankers and consultants weren’t paid to do too much primary research. Don't worry, your email address will not be published. than a single life, made up definition: 1. wearing make-up: 2. - Joseph Addison. My boss told me to look at the growth rate average over the past 3 years an increase it by 2% because mobile penetration is increasing.” There you go. Quotation #123981 About This Quote. I always try to think to myself, “what would the opposing side of this data analysis use to argue its weaknesses?”. It’s important to quantify the value of your product or service. It becomes folklore. It’s taking flawed data and making it more extreme. who contract the habit of eating, Statistics Quotes and Sayings Quotes about Statistics. I said, “So you interviewed the people to get a plausible story line and then just did a simple estimation of the numbers going forward?”, Me, sarcastically, “And you had to show higher growth because nobody buys reports that just show that next year the same thing is going to happen that happened last year?” Her, “um, basically.”, “For real?” “Well, yeah, we know it’s going to grow faster but nobody can be sure by how much.” Me, “And I suppose you don’t have a degree in econometrics or statistics?” Her, “No.”. As scientific as that. George Bernard Shaw "98% of all statistics are made up." Statistics show that the people who have the most live the longest. Josefina Vazquez Mota A man who has nothing for which he is willing to fight, nothing which is more important than his own personal safety, is a miserable creature and has no chance of being free unless made and kept so by … Samuel Langhorne Clemens, I wish it ended there. Every investment banker I know is “number 1” in something. — Edward R. Tufte. Further reading. The stats are often quoted from the latest reports. “Torture the data, and it will confess to anything.” – Ronald Coase 6. Reinhart, Alex (2015). but statistics are more pliable. not to confuse data It was either the famous writer Mark Twain or the 19th-century British Prime Minister Benjamin Disraeli who said: “There are three kinds of lies: lies, damned lies, and statistics.”. ~Author Unknown Lottery: A tax on people who are bad at math. I’d rather make decisions with uncertain numbers than no numbers. 23% of all costs are inefficient. By a small sample, - Laurence J. Peter Related topics: Cute Whimsey Cynical There are three types of lies- lies, damn lies, and statistics. Facts are stubborn things, but statistics are more pliable. Statistics are not there to pervert the truth in the interests of a theory somebody wishes to establish. But you couldn’t just publish exactly what Gartner Group had said so these reports ended up slightly amplified in message. They were more scientific. And be careful not to believe your own hype. How Many Investors Should You Talk to in a VC Fund Raise? “Mobile penetration set to double next year reaching all time highs,” “venture capital market set to implode next year — more than 70% of firms may disappear” or “drug use in California growing at an alarming rate.” We buy headlines. It looks like there hasn't been any additional information added to this quote yet. Often I’ll get some people look at me like, “really?” “It’s true. Please enjoy these quotes about Statistics from my collection of quotes and sayings. George Bernard Shaw. $\begingroup$ "Far better an approximate answer to the right question, which is often vague, than an exact answer to the wrong question, which can always be … Words can incite anger or invoke passion. If the statistics are boring, then you've got the wrong numbers. 4. This collection of statistics quotes tries to show the opposite and make the point that statistics are connected to science. I grilled the analyst a bit. As technology evolves and becomes cheaper, all aspects of our personal and professional lives have the potential to become data-driven. I’m not picking on them. We do not grow absolutely, chronologically. Never forget the three powerful resources Rose George Using quotes & statistics in infographics is the mortar that makes the information solid. - what motives might these people have had? 40 Best Boredom Quotes – Words of Great Wisdom, 23 Life Insurance Quotes – Witty and Meaningful, 50 of the Best Quotes to Learn a Foreign Language, Truly Powerful Dr. Seuss Quotes That May Change Your Life, Thinking Quotes to Inspire & Help Think Outside the Box, 25 Powerful Statistics Quotes with the Flavour of Science, First Step & Keep Going – 30 Great Motivational Quotes, Top 30 Quotes about the Best Use of Your Time, Best Confucius Quotes to Encourage You to Change, Powerful Quotes about Success and Achievement by Strong Women, Great & Truly Meaningful Quotes for Philosophical Thinking, Top 30 Poker Quotes by Great Players & Winners, Conversion Rate Optimization – Strategic Advisory Quotes, Provocative and Controversial Insurance Quotes, Business Quotes – Motivational Words to Thrive Your Business, Top 50 Money Jokes – Short Quick One-Liners, 50 Great Motivational Quotes about Baseball to Inspire You, Best 50 Winning and Success Quotes by Football Players and Coaches, The Best 50 Quotes by Basketball Players & Coaches, 25 Passionate Quotes from the Major League Baseball. Lee, Peter M. (2017) "Lies, Damned Lies and Statistics" at the support material of the academic web pages of the late Prof Lee, which authoritatively and thoroughly review—including through use of extensive quotations and references—the subject and evidence touched upon in this article. 13% of GDP is construction — the largest industry. But subtle changes in words can totally change the way that the reader interprets the results. Learn more. Unsourced. Just a few below to whet your appetite: 1 "As you know from teaching introductory statistics, 30 is infinity." The headlines in the media are filled with that latest stats. Statistics Quotes (157 quotes) Statistic Quotes, Statistically Quotes, Statistical Quotes ... Statistics are far from being the barren array of figures ingeniously and laboriously combined into columns and tables, ... Statistics can be made to prove anything—even the truth. How Much Should You Raise in Your VC Round? I started my life as a consultant. I have seen this so many times I consider it routine, which is why I question ALL data that I read. Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. - who paid them? In the end make sure you’re suspicious of all data. ... Americans pay up to 1,000 percent more to fill their prescriptions than consumers in other countries - that is an alarming statistic. They’re just a bit like the weather — hard to really predict. Nielsen just released the number last month.”. - There are malicious data such as on Yelp where you might have a competitor that types in bad results on your survey to bring you down or maliciously positive like on the Salesforce.com AppExchange where you get your friends to rate your app 5 out of 5 so you can drive your score up. Fortunately I was mostly a technology consultant, which meant that I coded computers, designed databases and planned system integration projects. for judgement. "I haven't brought my fangs our for some time. We all took that data as the basis for our reports. that of those This is often naivete rather than malicious, - You ask a group that is not unbiased. For instance did you know that 7% of all quoted statistics are made up on the spot? I was the only one whose Japanese was limited to just a sushi menu. And if anybody can’t publish something saying “just in, next year looks like a repeat of last year” it’s a newspaper. OK, yes. Data Quotes: The Future of Data. Continually seek the truth in the form of better customer surveys, more insightful market analyses and more accurate ROI calculations. This isn't a slam against Forbes (who I write for sometimes) -- it's a slam against the way news happens now. There are two ways of lying. They just define their category tightly enough that they win it. ~Author Unknown Use the following form to get made up statistics on the subject of your choice. — Anonymous. from his novel “Don Quixote”. Errors using inadequate data In statistics, what disappears behind rows of numbers is death. This type of statistical error is known as “selective bias.”, - Also common, you look at a large data set of questions asked about consumer preferences. We believe in the power of infographics. It is a human behavior that is as revealing as any other about human nature, but only if it can be released from the social straitjacket of nicety. Best 50 Short Motivational Quotes from the World of Sports – Win! - You change the specific words asked in the survey such that you subtly change the meaning for the person reading your conclusions. And be careful that you don’t spin the numbers for so long and so hard that you can’t separate out marketing estimates from reality. So you end up with superlative amplification. In order to pass the CAPTCHA please enable JavaScript, (1547 – 1616; Spanish novelist, poet and playwright), (1835 – 1910, American author and humourist), (1842 – 1910, American philosopher and psychologist), Collage of Shutterstock images; Foreground: Mettus, Background: kentoh, 50 Inspiring & Thoughtprovoking Worry & Anxiety Quotes, Grief & Loss – 50 Remarkable Quotes for Comfort, Peace & Relief. was it inclusive enough? But you have to understand how to interpret your numbers. Larry Lorenzoni Cognitive psychology tells us that the unaided human mind is vulnerable to many fallacies and illusions because of its reliance on its memory for vivid anecdotes rather than systematic statistics. - Benjamin Disraeli There are no facts, only interpretations. Votes: 2. Save my name, e-mail, and website in this browser for the next time I comment. The average human being spends three years of life going to the toilet, though the average human being with no physical toilet to go to probably does his or her best to spend less. 0.8 hours are spent every day by workers searching for documents. They had come up with a CAGR (compounded annual growth rate) that was 3% higher that the other report, which in a few years makes a huge difference. And How Do You Prioritize? Statistics Done Wrong: The Woefully Complete Guide. The stats are often quoted from the latest reports. Anyone with a great deal of experience in dealing with numbers knows to be careful about the seduction of them. And as they say about economists and weathermen — they’re the only two jobs you can keep while being wrong nearly 100% of the time ;-). That’s OK. With no numbers as proof points few people will buy your products. We grow sometimes in one dimension, and not in another; unevenly. He must have been about 24. we may judge Stats sell. 18% of all errors come from people using the wrong documents. I’m writing this post to make sure you’re all on that same playing field. — Anonymous. Quotations about Statistics Related Quotes Mathematics Science Business Advertising. We use words to encompass history, to describe the natural universe, and even to conjure realistic visions of things that exist only in fantasy. Henry Clay, Sr. I told this story to every consultant I knew at the time. I use it as one source of figuring out my version of the truth. He said, literally, I sh*t you not, “well, my report was due and I didn’t have much time. I got the analyst who wrote one of the reports on the phone and asked how he got his projections. Here are some examples: - You ask a small sample set so that data isn’t statistically significant. Even more so with journalists. I encourage it. So they took 3 reports, read them, put them into their own spreadsheet, made fancier graphs, had professional PowerPoint departments make killer pages and then at the bottom of the graph they typed, “Research Company Data and Consulting Company Analysis” (fill in brand names) or some derivative. It can happen. One of our core tasks was “market analysis,” which consistent of: market sizing, market forecasts, competitive analysis and then instructing customers on which direction to take. are much less This is an “error of omission.”. 40% of costs are labor, 40% are materials and 20% are overheads. I’m shocked, shocked to find that gambling is going on here. I had to read each report, synthesis it and then come up with our best estimate of the markets going forward. How, ... and the claims being made and just accept what they’re presented with. Statistics show that of those who contract the habit of eating, very few survive. For example, you ask a group of prisoners what they think of the penal system, you ask college students what they think about the drinking age or you ask a group of your existing customers what they think about your product rather than people who cancelled their subscription. Statistics: Made up facts and misleading numbers. of a thousand lives. ;-) But for my sins I got an MBA and did “strategy” consulting.
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