Decisions are all about emotion, however, numbers are so very important. At the end of the day if the bank balance is zero, no amount of emotion is going to change that. When it comes to numbers and decision making there are essentially three positions people take. Believers These people believe numbers enhance decisions. In
One of the most soul-destroying events that can happen to a company is for a bean counter to be appointed as CEO with a vision that involves cost cutting and not much else. While I am one of the first to hold true to “In God we trust, all others bring data”, I have seen
A strategy is of itself a hypothesis. Something that is proved true or false over time. For more on this, read one of my most popular blogs here: A strategy is but a hypothesis. In proving your hypothesis, you eventually find out if you are spending on a failed strategy or if you are investing
Solving Quantifornication has the benefits of countering fake news, avoiding poor decisions based on a poor risk assessment and learning to pose the right questions. Quantifornication is a term that I use to describe any of the following: Twisting data, intentionally or not, to make a point that the data does not actually support e.g.
We need data we can trust so that we can build trust using data. However, it is not as easy as it sounds. A study of over 1,400 marketing campaigns by the Institute of Practitioners in Advertising in the UK found that campaigns selling on emotion only were 32% effective. Worse still, campaigns selling on