March 2014
Intermediate to advanced
160 pages
2h 8m
English
book
How to Measure Anything Workbook: Finding the Value of Intangibles in Business
by Douglas W. Hubbard
Content preview from How to Measure Anything Workbook: Finding the Value of Intangibles in Business
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CHAPTER 3 The Illusion of Intangibles: Why Immeasurables Aren't
LEARNING OBJECTIVES
- Name three common misconceptions behind the claim that something can’t be measured.
- Give a practical definition of the word “measurement.”
- Describe the different scales of measurement.
- Explain the Clarification Chain.
- Describe several proven measurement methods that can be used for a variety of issues that are often considered immeasurable.
- Explain the “Rule of Five” and the “Urn of Mystery” examples.
- Present four useful measurement assumptions.
- Explain three reasons offered why something shouldn’t be measured and how to counter them.
CHAPTER OVERVIEW
Chapter NaN exposes three common misconceptions that lead people to believe that something can’t be measured. In describing these, several concepts are introduced. A practical definition of measurement is given and different scales of measurement are explained. Methods for improving the definition of an alleged immeasurable are discussed along with a basic overview of methods based on random sampling of observations. Four productive assumptions are given that help to reduce concerns about the difficulty and practicality of using measurements to inform decisions.
The chapter also discusses three commonly given reasons why something shouldn’t be measured. It is shown that only one of these, the economic objection, has any potential merit but even that is overused.
QUESTIONS
- What is/are a reason(s) people tend to think something can’t be ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.