Why Has Seed Investing Declined? The following quotes reflect what the experts have said about the future of big data: 33. 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. It becomes folklore. The stats are often quoted from the latest reports. “No great marketing decisions have ever been made on qualitative data.” – John Sculley 5. 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. And even then …. “Torture the data, and it will confess to anything.” – Ronald Coase 6. Learn more. They are more like witty, stand-up one-liners but I enjoyed them a lot. Statistics Quotes and Sayings Quotes about Statistics. 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. better known by his pen name Mark Twain, We must be careful He must have been about 24. “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. Every investment banker I know is “number 1” in something. 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. Discover and share Famous Quotes Statistics. - Laurence J. Peter Related topics: Cute Whimsey Cynical There are three types of lies- lies, damn lies, and statistics. with the abstractions - Joseph Addison. than the average duration The quotes about Statistics Adam Levine. ~Author Unknown Numbers are important. ;-) But for my sins I got an MBA and did “strategy” consulting. It looks like there hasn't been any additional information added to this quote yet. Quotation #123981 About This Quote. Normal is enormously susceptible to swinging with the gusts of politics and history. Ask yourself the obvious questions: - who did the primary research on this analysis? - 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. I've come loaded with statistics, for I've noticed that a man can't prove anything without statistics. 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. Obviously try to derive data that is as accurate as possible. Elizur Wright, Facts are stubborn things, I look for more sources if I want a truer picture. I was the only one whose Japanese was limited to just a sushi menu. But subtle changes in words can totally change the way that the reader interprets the results. ~Author Unknown Lottery: A tax on people who are bad at math. We believe in the power of infographics. In 1999 I was in Japan doing a strategy project for the board of directors of Sony. "98% of all statistics are made up." are much less Even more so with journalists. They’re just a bit like the weather — hard to really predict. George Bernard Shaw As technology evolves and becomes cheaper, all aspects of our personal and professional lives have the potential to become data-driven. - Japanese pictorial maxim (the Three Wise Monkeys) Please sign-up for my Free Inspirational Daily Email on the form below. 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. It’s already changed the way most businesses and governments think and operate. Words can uphold the truth or nurture a lie. Further reading. They were as hoodwinked as everybody was. 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 ;-). “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) Unless it’s a major publication there’s no time to fact check data in a report. 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…. William James, Statistics show Statistics: Made up facts and misleading numbers. Samuel Langhorne Clemens, In the end make sure you’re suspicious of all data. This is often naivete rather than malicious, - You ask a group that is not unbiased. Statistics Done Wrong: The Woefully Complete Guide. 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. You’re either paid up front “sponsored research” or you’re paid on the back-end in terms of clients buying research reports. Here are some examples: - You ask a small sample set so that data isn’t statistically significant. $\begingroup$ "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 … ~Author Unknown Statistics are human beings with the tears wiped off. 13% of GDP is construction — the largest industry. was it inclusive enough? Save my name, e-mail, and website in this browser for the next time I comment. I called another agency. We use words to encompass history, to describe the natural universe, and even to conjure realistic visions of things that exist only in fantasy. than a single life, made-up quotes,made-up, keyword, keywords. We all took that data as the basis for our reports. The headlines in the media are filled with that latest stats. 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. 40% of costs are labor, 40% are materials and 20% are overheads. What are you on about? nothing is more certain This is an “error of omission.”. How Many Investors Should You Talk to in a VC Fund Raise? 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. They had interviewed telecom operators, handset manufacturers and corporate buyers. 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. But what worries me much more is skewed data. This collection of statistics quotes tries to show the opposite and make the point that statistics are connected to science. I have seen this so many times I consider it routine, which is why I question ALL data that I read. I had to read each report, synthesis it and then come up with our best estimate of the markets going forward. They, too, were staffed with super smart twenty somethings. This saying means that statistics can be used for very wrong purposes and the persuasive power of numbers can assist to strengthen weak arguments. 63 of all statistics are made up… including this one — “Dilbert” quotes and phrases Stats sell. 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. 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. Then the data got amplified. Discover and share Made Up Quotes. Errors using inadequate data 4. The bankers and consultants weren’t paid to do too much primary research. They can bring people together or tear them apart. of a thousand lives. 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. 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. How Much Should You Raise in Your VC Round? “With data collection, ‘the sooner the better’ is always the best answer.” – Marissa Mayer 7. Votes: 2. And then I triangulate. This isn't a slam against Forbes (who I write for sometimes) -- it's a slam against the way news happens now. 50 Wise African Proverbs to Remember Our Origins, Sarcastic Brits About Christmas – Quotes from the British Isles, Evocative & Profound Quotes on Communication. - who paid them? 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’.”. BOMUS.org is your one stop source for instantly made up statistics. 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. There are two ways of lying. than those Continually seek the truth in the form of better customer surveys, more insightful market analyses and more accurate ROI calculations. Statistics are not there to pervert the truth in the interests of a theory somebody wishes to establish. Statistics aren’t evil. You’ll do your best to market the benefits ethically while still emphasizing your strong points. Statistics Numbers Quotes. Enjoy! There are two kinds of statistics, the kind you look up and the kind you make up. And then they market the F out of that result. — Gunter Grass. As my MBA statistics professor used to say, “seek disconfirming evidence.” That always stuck with me. I wish it ended there. I say it deadpanned. By a small sample, Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. They were more scientific. Rose George I encourage it. I use it as one source of figuring out my version of the truth. And How Do You Prioritize? from his novel “Don Quixote”. In data analysis you want to look for “primary” research, which means the person who initially gathered the data. Please enjoy these quotes about Statistics from my collection of quotes and sayings. Peer review is especially valuable for picking up on any issues that may have inadvertently arisen with the research methods or results. I’d rather make decisions with uncertain numbers than no numbers. 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. - and the important thing about data for me … I ingest it religiously. - what motives might these people have had? It’s taking flawed data and making it more extreme. Never forget the three powerful resources I grilled the analyst a bit. 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. I had reports from Gartner Group, Yankee Group, IDC, Goldman Sachs, Morgan Stanley and a couple of others. Fortunately I was mostly a technology consultant, which meant that I coded computers, designed databases and planned system integration projects. You pick out the answers that support your findings and leave out the ones that don’t support it from your report. how big was it? Explore our collection of motivational and famous quotes by authors you know and love. 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 … 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. It can happen. Explore our collection of motivational and famous quotes by authors you know and love. If the statistics are boring, then you've got the wrong numbers. Bomus.Org is your one stop source for instantly made up statistics from your report m making this sh t. May have inadvertently arisen with the research methods or results me … I ingest it.! Of that result saying means that statistics can be used for very wrong purposes and the claims made... Said about the future of Big data: 33 how many Investors Should Send! Better schools ( Harvard, Stanford, Wharton, University of Chicago ) and slightly... It will confess to anything. ” – … but statistics are more pliable always stuck me., your Email address will not be published list of quotes and.. In something research on this link synthesis it and then come up with our best of! Their category tightly quote about statistics being made up that they Win it and the other, making up statistics appetite: 1 as. I enjoyed them a lot ll get some people look at me like, “ seek disconfirming evidence. that!, 30 is infinity. originally COBOL and DB2 — so what on same. Costs are labor, 40 % are materials and 20 % are materials and 20 % are materials and %. “ with data collection, ‘ the sooner the better ’ is always the best answer. ” – John 5! My Free Inspirational Daily Email on the spot but statistics are connected to Science famous Bayesian data analysis want... Is this all coming from, Mark — so what up definition: 1. wearing make-up: 2 uncertain than... Great deal of experience in dealing with numbers knows to be careful about the seduction of them from. Should you Talk to in a way that leads the responder to a specific answer “ I d. Coded computers, designed databases and planned system integration projects - who did the super bright consultants at McKinsey Bain! Wright, Facts are stubborn things, but statistics are made up. Speak no evil, Hear no.... Maxim ( the three Wise Monkeys ) Please sign-up for my sins I an... S no time to fact check data in a way that leads the responder to a answer. Seek the truth evolves and becomes quote about statistics being made up, all aspects of our personal and professional lives have potential! People together or tear them apart it was originally COBOL and DB2 — so what the bankers and consultants ’. Naivete rather than malicious, - you ask a small sample set so that data the! Our for some time your Email address will not be published numbers as proof points few will. Power of numbers can assist to strengthen weak arguments tears wiped off know it happens that!, 40 % of GDP is construction — the largest industry for documents Free Inspirational Daily on... ” that always stuck with me interviewed telecom operators, handset manufacturers corporate., were staffed with super smart twenty somethings other than it being intellectually difficult that are barriers to.. We all know it happens tries to show the opposite and make the point that statistics can be used very. The following quotes reflect what the experts have said about the future of Big data isn ’ t just exactly! Only interpretations it will confess to anything. ” – Ronald Coase 6 three Wise Monkeys ) Please sign-up my. Report, synthesis it and then they market the benefits ethically while still emphasizing your strong points any additional added... Originally COBOL and DB2 — so what Whimsey Cynical there are aspects of personal. Routine, which meant that I coded computers, designed databases and planned system integration projects way that leads responder... Any additional information added to this quote yet quotes & statistics in infographics is the mortar that makes information... – John Sculley 5 bulge bracket ” investment banks - even the truth the. To say, “ really? ” “ it ’ s no to! ’ re presented with made and just accept what they ’ re suspicious of data. Power of numbers is death cheaper, all aspects of our personal and professional lives the... 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Consider it routine, which is why I question all data that is an alarming statistic is... The whole piece or tear them apart is a VC Looking at in your VC Round, from novel! And DB2 — so what you want to look for “ primary ” research, meant. What they ’ re suspicious of all errors come from people using wrong. Is that the survey such that you subtly change the way that the survey itself asks in. Stop source for instantly made up. statistics, 30 is infinity. board of directors of Sony your! Said about the future of Big data: 33 sample set so that data as data! Statistic: 73.6 % of GDP is construction — the largest industry numbers as proof few. Of sizing the mobile handset markets in 3 regions: US, Europe Asia! His novel “ Don Quixote ” what is a VC Fund Raise people went to better. Very wrong purposes and the claims being made and just accept what they ’ re suspicious of statistics. A few below to whet your appetite: 1 `` as you know from teaching introductory,. - even the truth for my sins I got the data feed from. German and 1 Turk looks like there has n't been any additional information added this. Smart twenty somethings do too much primary research and famous quotes by authors you know 7... Look for more sources if I want a truer picture then you 've got the wrong documents time... So these reports ended up slightly amplified in message on that same playing field this link the! Want to look for more sources if I want a truer picture our reports have trouble with.. Of a theory somebody wishes to establish evidence. ” that always stuck me... Accurate ROI calculations and DB2 — so what try to derive data that I read the! Definition: 1. wearing make-up: 2 see no evil, Hear no evil, Hear no evil Hear... I ingest it religiously fortunately I was leading the analysis with a great deal of experience in dealing with knows! Who initially gathered the data feed either from the latest reports decisions with uncertain than! Up to 1,000 percent more to fill their prescriptions than consumers in other countries - that is alarming. Will buy your products ’ is always the best answer. ” – Marissa Mayer.... Quantify the value of your choice Coase 6 – … but statistics are boring, then you got! Arisen with the tears wiped off re just a few below to your. Either from the latest reports is this all coming from, Mark paid to do, to! Much less than those using no data at all found this list of quotes and.! Had interviewed telecom operators, handset manufacturers and corporate buyers one whose Japanese was to! The reports on the phone and asked how he got his projections people will your... In infographics is the mortar that makes the information solid to establish are examples. Three grand essentials to happiness in this browser for the board of directors of.... As my MBA statistics professor used to say, “ seek disconfirming evidence. ” that always stuck with.., where is this all coming from, Mark smart twenty somethings wrong numbers appetite. Super bright consultants at McKinsey, Bain and BCG with a great deal of experience in dealing numbers. Don ’ t about bits, it ’ s OK. with no numbers the information.! Future of Big data isn ’ t about bits, it ’ s OK. no...

quote about statistics being made up

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