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quote about statistics being made up

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

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