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