6 PROPERTIES OF DATA
THE IMPORTANCE OF THE RIGHT PROPERTIES
History is littered with examples of decisions being made based on people’s gut feelings and things whispered in their ear. In the modern world we like to believe that we base our future on ‘data’ and can be more certain of what is likely to happen. Human psychology is a little beyond this book, but to make great decisions still requires the ‘right’ data.
When managers use figures and percentages from a spreadsheet, they look at numbers: this key performance indicator (KPI) has been met; this is how well we are doing against our target and so on. We expect that everyone knows (and most people do) what 100 per cent means, and that meeting this means something. What about the words ...
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