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

quote about statistics being made up

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