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. I told this story to every consultant I knew at the time. 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.”. They are more like witty, stand-up one-liners but I enjoyed them a lot. 63 of all statistics are made up… including this one — “Dilbert” quotes and phrases 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.”. Continually seek the truth in the form of better customer surveys, more insightful market analyses and more accurate ROI calculations. They just define their category tightly enough that they win it. He must have been about 24. Statistics aren’t evil. And then they market the F out of that result. we may judge Don't worry, your email address will not be published. Discover and share Famous Quotes Statistics. The bankers and consultants weren’t paid to do too much primary research. Votes: 2. There are two ways of lying. - Laurence J. Peter. But you have to understand how to interpret your numbers. Or as Mark Twain popularized the quote most attributed to the Prime Minister of Great Britain, Benjamin Disraeli, “there are three kinds of lies: lies, damn lies and statistics.” The quote is meant to highlight the deceiving but persuasive power of numbers. Unless it’s a major publication there’s no time to fact check data in a report. - Benjamin Disraeli There are no facts, only interpretations. How Many Investors Should You Talk to in a VC Fund Raise? I have seen this so many times I consider it routine, which is why I question ALL data that I read. People then parrot them around like they’re fact when most of them are complete bullsh*t. People throw them around at cocktail parties. I know it sounds like I’m making this sh*t up but I’m not. They’re just a bit like the weather — hard to really predict. 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 ;-). I started my life as a consultant. “Statistics are no substitute for judgment.” (Henry Clay, 1850) “Statistics are no substitute for common sense.” (Richard N Bialac) “I can prove anything by statistics except the truth.” (George Canning) I encourage it. I always try to think to myself, “what would the opposing side of this data analysis use to argue its weaknesses?”. 50 Wise African Proverbs to Remember Our Origins, Sarcastic Brits About Christmas – Quotes from the British Isles, Evocative & Profound Quotes on Communication. Even more so with journalists. ... Americans pay up to 1,000 percent more to fill their prescriptions than consumers in other countries - that is an alarming statistic. And don’t forget to include information on how to cite an infographic, when you use one on your website so if it gets shared, it drives traffic back to you. ~Paul Brodeur, Outrageous Misconduct Facts are stubborn things, but statistics are more pliable. I found this list of quotes from Gelman's famous Bayesian Data Analysis book on this link. - who was in the sample set? Errors using inadequate data Save my name, e-mail, and website in this browser for the next time I comment. - Also common is that the survey itself asks questions in a way that leads the responder to a specific answer. for judgement. 0.8 hours are spent every day by workers searching for documents. BOMUS.org is your one stop source for instantly made up statistics. from his novel “Don Quixote”. how big was it? How, ... and the claims being made and just accept what they’re presented with. Words can incite anger or invoke passion. As technology evolves and becomes cheaper, all aspects of our personal and professional lives have the potential to become data-driven. Use the following form to get made up statistics on the subject of your choice. But all of the data projections were so different so I decided to call some of the research companies and ask how they derived their data. I look for more sources if I want a truer picture. There are no Shortcuts: Why Showing up In Person is Everything, A Deep Dive into What Has Really Changed in Venture Capital. And even then …. For instance did you know that 7% of all quoted statistics are made up on the spot? In statistics, what disappears behind rows of numbers is death. Statistics Done Wrong: The Woefully Complete Guide. In 1999 I was in Japan doing a strategy project for the board of directors of Sony. They got the data feed either from the research company or from the investment bank. than those 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. of a thousand lives. Explore our collection of motivational and famous quotes by authors you know and love. - Joseph Addison. Statistics Quotes and Sayings Quotes about Statistics. - Japanese pictorial maxim (the Three Wise Monkeys) Please sign-up for my Free Inspirational Daily Email on the form below. Enjoy! Samuel Langhorne Clemens, Quotations about Statistics Related Quotes Mathematics Science Business Advertising. Anyone with a great deal of experience in dealing with numbers knows to be careful about the seduction of them. 40% of costs are labor, 40% are materials and 20% are overheads. “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. William James, Statistics show We all took that data as the basis for our reports. This saying means that statistics can be used for very wrong purposes and the persuasive power of numbers can assist to strengthen weak arguments. See no evil, Hear no evil, Speak no evil. Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. As my MBA statistics professor used to say, “seek disconfirming evidence.” That always stuck with me. One, not telling the truth and the other, making up statistics. It’s taking flawed data and making it more extreme. The quotes about Statistics Adam Levine. The stats are often quoted from the latest reports. “With data collection, ‘the sooner the better’ is always the best answer.” – Marissa Mayer 7. Then the data got amplified. 18% of all errors come from people using the wrong documents. are much less Unsourced. - You change the specific words asked in the survey such that you subtly change the meaning for the person reading your conclusions. “Torture the data, and it will confess to anything.” – Ronald Coase 6. Elizur Wright, Facts are stubborn things, We grow sometimes in one dimension, and not in another; unevenly. You’re either paid up front “sponsored research” or you’re paid on the back-end in terms of clients buying research reports. Nobody was surprised. 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. 4. Never forget the three powerful resources How is it skewed? nothing is more certain And then I triangulate. Explore our collection of motivational and famous quotes by authors you know and love. Enter the data in the form of a question for best results. How Much Should You Raise in Your VC Round? You pick out the answers that support your findings and leave out the ones that don’t support it from your report. But you couldn’t just publish exactly what Gartner Group had said so these reports ended up slightly amplified in message. I’d rather make decisions with uncertain numbers than no numbers. “The world, we are told, was made especially for man — a presumption not supported by all the facts.” ― John Muir, A Thousand-Mile Walk to the Gulf tags: facts , presumption , superstition , universe And this data subtly sinks into the psyche of your company. made up definition: 1. wearing make-up: 2. 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. 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. Normal is enormously susceptible to swinging with the gusts of politics and history. You’ll do your best to market the benefits ethically while still emphasizing your strong points. very few survive. We believe in the power of infographics. 13% of GDP is construction — the largest industry. It’s strange to me to think that customers with years of experience would ever listen to twenty-something smarties from great MBA’s who have never worked in your industry before — but that’s a different story. Statistics are no substitute I completed two years of upper-division stat courses at university, and — even though I doubt it was the professor's intent — the most lasting thing I learned was exactly what they say, that you can make numbers say anything. He said, literally, I sh*t you not, “well, my report was due and I didn’t have much time. What are you on about? 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. But these people went to slightly better schools (Harvard, Stanford, Wharton, University of Chicago) and got slightly better grades. Ask yourself the obvious questions: - who did the primary research on this analysis? Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. Charles Babbage, While nothing is more uncertain So did the super bright consultants at McKinsey, Bain and BCG. of the whole piece. Nobody does this stuff free. I wish it ended there. It’s already changed the way most businesses and governments think and operate. By a small sample, Re: Famous historical quotes that are made up #15 by NamelessFaceless » Apr 17, 2012 4:02 pm There's a sucker born every minute is usually attributed to PT Barnum, but it was actually said by one of his competitors, David Hanuum, regarding the Cardiff Giant hoax . Josefina Vazquez Mota I’m not picking on them. Statistics show that of those who contract the habit of eating, very few survive. The stats are often quoted from the latest reports. Often I’ll get some people look at me like, “really?” “It’s true. I’m shocked, shocked to find that gambling is going on here. And be careful not to believe your own hype. Statistics are not there to pervert the truth in the interests of a theory somebody wishes to establish. - Laurence J. Peter Related topics: Cute Whimsey Cynical There are three types of lies- lies, damn lies, and statistics. — Anonymous. They were more scientific. 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. 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. ~Author Unknown A made-up story or report has been invented and is untrue: 3. very happy…. Reinhart, Alex (2015). There are aspects of statistics other than it being intellectually difficult that are barriers to learning. It’s important to quantify the value of your product or service. Best 50 Short Motivational Quotes from the World of Sports – Win! I called another agency. The following quotes reflect what the experts have said about the future of big data: 33. Three grand essentials to happiness in this life are something to do, something to love, and something to hope for. - and the important thing about data for me … I ingest it religiously. - what motives might these people have had? "98% of all statistics are made up." who contract the habit of eating, Every investment banker I know is “number 1” in something. with the abstractions We do not grow absolutely, chronologically. 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. Stats sell. ~Author Unknown Statistics are human beings with the tears wiped off. made-up quotes,made-up, keyword, keywords. This is often naivete rather than malicious, - You ask a group that is not unbiased. Peer review is especially valuable for picking up on any issues that may have inadvertently arisen with the research methods or results. “Big data isn’t about bits, it’s about talent.” – … but statistics are pliable. That’s OK. With no numbers as proof points few people will buy your products. 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. Related Topics: More Math Jokes, Math Quotes and Games Statistics "42.7% of all statistics are made up on the spot." — Gunter Grass. I was the only one whose Japanese was limited to just a sushi menu. It looks like there hasn't been any additional information added to this quote yet. than a single life, I use it as one source of figuring out my version of the truth. 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