And then they market the F out of that result. That’s OK. With no numbers as proof points few people will buy your products. Peer review is especially valuable for picking up on any issues that may have inadvertently arisen with the research methods or results. 23% of all costs are inefficient. 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 … Samuel Langhorne Clemens, Data Quotes: The Future of Data. Miguel de Cervantes, Statistics: Made up facts and misleading numbers. "I haven't brought my fangs our for some time. 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. See no evil, Hear no evil, Speak no evil. I wish it ended there. Normal is enormously susceptible to swinging with the gusts of politics and history. They just define their category tightly enough that they win it. This is often naivete rather than malicious, - You ask a group that is not unbiased. made-up quotes,made-up, keyword, keywords. - who paid them? As technology evolves and becomes cheaper, all aspects of our personal and professional lives have the potential to become data-driven. They can bring people together or tear them apart. I've come loaded with statistics, for I've noticed that a man can't prove anything without 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.”. “I’m shocked, shocked to find that gambling is going on here.” We all know it happens. “Big data isn’t about bits, it’s about talent.” – … that of those How is it skewed? than those - and the important thing about data for me … I ingest it religiously. We do not grow absolutely, chronologically. Obviously try to derive data that is as accurate as possible. And if anybody can’t publish something saying “just in, next year looks like a repeat of last year” it’s a newspaper. with the abstractions They got the data feed either from the research company or from the investment bank. For instance did you know that 7% of all quoted statistics are made up on the spot? What are you on about? I had to read each report, synthesis it and then come up with our best estimate of the markets going forward. I told this story to every consultant I knew at the time. but statistics are pliable. Unsourced. 40% of costs are labor, 40% are materials and 20% are overheads. I started my life as a consultant. than a single life, I had reports from Gartner Group, Yankee Group, IDC, Goldman Sachs, Morgan Stanley and a couple of others. -- Steven Wright "Five out of four people have trouble with fractions." Errors using inadequate data “No great marketing decisions have ever been made on qualitative data.” – John Sculley 5. - Also common is that the survey itself asks questions in a way that leads the responder to a specific answer. ;-) But for my sins I got an MBA and did “strategy” consulting. People then parrot them around like they’re fact when most of them are complete bullsh*t. People throw them around at cocktail parties. Facts are stubborn things, but statistics are more pliable. We grow sometimes in one dimension, and not in another; unevenly. That doesn’t happen? 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’.”. Rose George 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 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. But you couldn’t just publish exactly what Gartner Group had said so these reports ended up slightly amplified in message. The headlines in the media are filled with that latest stats. Just a few below to whet your appetite: 1 "As you know from teaching introductory statistics, 30 is infinity." "98% of all statistics are made up." Here are some examples: - You ask a small sample set so that data isn’t statistically significant. I use it as one source of figuring out my version of the truth. Even more so with journalists. Nobody was surprised. 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. $\begingroup$ "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 … 0.8 hours are spent every day by workers searching for documents. So did the super bright consultants at McKinsey, Bain and BCG. who contract the habit of eating, And How Do You Prioritize? So, where is this all coming from, Mark? 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. One, not telling the truth and the other, making up statistics. There are two kinds of statistics, the kind you look up and the kind you make up. How Much Should You Raise in Your VC Round? - Laurence J. Peter. Statistics are no substitute He must have been about 24. ... Americans pay up to 1,000 percent more to fill their prescriptions than consumers in other countries - that is an alarming statistic. “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) There are so many ways to present data to tell the story you want that I can’t even list every way data is skewed. Fortunately I was mostly a technology consultant, which meant that I coded computers, designed databases and planned system integration projects. We all took that data as the basis for our reports. but statistics are more pliable. Numbers are important. Further reading. What Should You Send a VC Before Your Meeting. — Edward R. Tufte. Statistics aren’t evil. I found this list of quotes from Gelman's famous Bayesian Data Analysis book on this link. It looks like there hasn't been any additional information added to this quote yet. Henry Clay, Sr. And What is a VC Looking at in Your Model? ~Author Unknown Lottery: A tax on people who are bad at math. I was leading the analysis with a team of 14 people: 12 Japanese, 1 German and 1 Turk. I always try to think to myself, “what would the opposing side of this data analysis use to argue its weaknesses?”. The problem got worse as the data flowed out to the “bulge bracket” investment banks. They, too, were staffed with super smart twenty somethings. It becomes folklore. 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. Statistics can easily be doctored, made up out of thin air, or even serve as reference articles in massive business publications that didn't thoroughly fact-check. Save my name, e-mail, and website in this browser for the next time I comment. - You change the specific words asked in the survey such that you subtly change the meaning for the person reading your conclusions. He said, literally, I sh*t you not, “well, my report was due and I didn’t have much time. Use the following form to get made up statistics on the subject of your choice. I was in the midst of sizing the mobile handset markets in 3 regions: US, Europe and Asia. Statistics show that the people who have the most live the longest. not to confuse data Nielsen just released the number last month.”. how big was it? It’s already changed the way most businesses and governments think and operate. I’m shocked, shocked to find that gambling is going on here. People then parrot them around like they’re fact when most of them are complete bullsh*t. People throw them around at cocktail parties. In the end make sure you’re suspicious of all data. So you end up with superlative amplification. 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. of the whole piece. I grilled the analyst a bit. Unless it’s a major publication there’s no time to fact check data in a report. - what motives might these people have had? 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. we may judge 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 . ~Author Unknown The quotes about Statistics Adam Levine. — Gunter Grass. And this data subtly sinks into the psyche of your company. - Benjamin Disraeli There are no facts, only interpretations. They had interviewed telecom operators, handset manufacturers and corporate buyers. 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. But what worries me much more is skewed data. They were more scientific. William James, Statistics show Three grand essentials to happiness in this life are something to do, something to love, and something to hope for. The stats are often quoted from the latest reports. 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. That's very rude," Myrnin said. And even then …. In 1999 I was in Japan doing a strategy project for the board of directors of Sony. - Laurence J. Peter Related topics: Cute Whimsey Cynical There are three types of lies- lies, damn lies, and statistics. Learn more. A made-up story or report has been invented and is untrue: 3. very happy…. How, ... and the claims being made and just accept what they’re presented with. — Anonymous. is your one stop source for instantly made up statistics. 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. Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. ~Author Unknown Statistics are human beings with the tears wiped off. - 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 AppExchange where you get your friends to rate your app 5 out of 5 so you can drive your score up. Statistics are not there to pervert the truth in the interests of a theory somebody wishes to establish. As my MBA statistics professor used to say, “seek disconfirming evidence.” That always stuck with me. But these people went to slightly better schools (Harvard, Stanford, Wharton, University of Chicago) and got slightly better grades. 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. People then parrot them around like they’re fact when most of them are complete bullsh*t. People throw them around at cocktail parties. Explore our collection of motivational and famous quotes by authors you know and love. It was originally COBOL and DB2 — so what? You’ll do your best to market the benefits ethically while still emphasizing your strong points. I encourage it. “Torture the data, and it will confess to anything.” – Ronald Coase 6. I’m writing this post to make sure you’re all on that same playing field. Quotation #123981 About This Quote. 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. I’m not picking on them. Don't worry, your email address will not be published. I say it deadpanned. Charles Babbage, While nothing is more uncertain 50 Thoughtful Forgiveness Quotes – Forgive & Forget! They took the data from the analysts. 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. Continually seek the truth in the form of better customer surveys, more insightful market analyses and more accurate ROI calculations. Every investment banker I know is “number 1” in something. 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. 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. George Bernard Shaw Amplification is one thing. But subtle changes in words can totally change the way that the reader interprets the results. Statistics can be made to prove anything - even the truth. The stats are often quoted from the latest reports. I was the only one whose Japanese was limited to just a sushi menu. There are no Shortcuts: Why Showing up In Person is Everything, A Deep Dive into What Has Really Changed in Venture Capital. This isn't a slam against Forbes (who I write for sometimes) -- it's a slam against the way news happens now. 4. 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. But you have to understand how to interpret your numbers. we use to analyse them. — Anonymous. There are two ways of lying. Stats sell. - Japanese pictorial maxim (the Three Wise Monkeys) Please sign-up for my Free Inspirational Daily Email on the form below. - Joseph Addison. Using quotes & statistics in infographics is the mortar that makes the information solid. from his novel “Don Quixote”. Often I’ll get some people look at me like, “really?” “It’s true. They are more like witty, stand-up one-liners but I enjoyed them a lot. Statistics Done Wrong: The Woefully Complete Guide. I’d rather make decisions with uncertain numbers than no numbers. very few survive. Being the number one investment bank in a greatly reduced data set shouldn’t stop you from wanting to broaden the definition of “number 1” next year. We believe in the power of infographics. 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. 63 of all statistics are made up… including this one — “Dilbert” quotes and phrases It’s important to quantify the value of your product or service. There are aspects of statistics other than it being intellectually difficult that are barriers to learning. Nobody does this stuff free. I got the analyst who wrote one of the reports on the phone and asked how he got his projections. 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 … In data analysis you want to look for “primary” research, which means the person who initially gathered the data. Welcome to my page of quotations about statistics. If the statistics are boring, then you've got the wrong numbers. better known by his pen name Mark Twain, We must be careful Never forget the three powerful resources 13% of GDP is construction — the largest industry. Reinhart, Alex (2015). In statistics, what disappears behind rows of numbers is death. The following quotes reflect what the experts have said about the future of big data: 33. 50 Wise African Proverbs to Remember Our Origins, Sarcastic Brits About Christmas – Quotes from the British Isles, Evocative & Profound Quotes on Communication. using no data at all. 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 ;-). Elizur Wright, Facts are stubborn things, How Many Investors Should You Talk to in a VC Fund Raise? 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. “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 What Does this Mean for the Future? “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. Josefina Vazquez Mota This collection of statistics quotes tries to show the opposite and make the point that statistics are connected to science. was it inclusive enough? 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…. Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. The stats are often quoted from the latest reports. Related Topics: More Math Jokes, Math Quotes and Games Statistics "42.7% of all statistics are made up on the spot." 18% of all errors come from people using the wrong documents. By a small sample, You pick out the answers that support your findings and leave out the ones that don’t support it from your report. Statistics show that of those who contract the habit of eating, very few survive. Words can incite anger or invoke passion. Statistics Numbers Quotes. Explore our collection of motivational and famous quotes by authors you know and love. 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. 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.”. They’re just a bit like the weather — hard to really predict. 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. Votes: 2. The quotes are sorted in chronological order by the birth date of the author. “With data collection, ‘the sooner the better’ is always the best answer.” – Marissa Mayer 7. Then the data got amplified. And be careful not to believe your own hype. It can happen. I called another agency. Words can uphold the truth or nurture a lie. Please enjoy these quotes about Statistics from my collection of quotes and sayings. Enter the data in the form of a question for best results. Discover and share Made Up Quotes. Statistics Quotes and Sayings Quotes about Statistics. George Bernard Shaw. This saying means that statistics can be used for very wrong purposes and the persuasive power of numbers can assist to strengthen weak arguments. are much less As scientific as that. I have seen this so many times I consider it routine, which is why I question ALL data that I read. for judgement. This is an “error of omission.”. - who was in the sample set? Discover and share Famous Quotes Statistics. made up definition: 1. wearing make-up: 2. And then I triangulate. Enjoy! Ask yourself the obvious questions: - who did the primary research on this analysis? nothing is more certain 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. of a thousand lives. The bankers and consultants weren’t paid to do too much primary research. You’re either paid up front “sponsored research” or you’re paid on the back-end in terms of clients buying research reports. than the average duration Anyone with a great deal of experience in dealing with numbers knows to be careful about the seduction of them. It’s taking flawed data and making it more extreme. Why Has Seed Investing Declined? OK, yes. They were as hoodwinked as everybody was. I know it sounds like I’m making this sh*t up but I’m not. Best 50 Short Motivational Quotes from the World of Sports – Win! ~Paul Brodeur, Outrageous Misconduct Facts are stubborn things, but statistics are more pliable.
2020 quote about statistics being made up