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jerryking : easy-to-measure   2

How Not to Drown in Numbers - NYTimes.com
MAY 2, 2015| NYT |By ALEX PEYSAKHOVICH and SETH STEPHENS-DAVIDOWITZ.

If you’re trying to build a self-driving car or detect whether a picture has a cat in it, big data is amazing. But here’s a secret: If you’re trying to make important decisions about your health, wealth or happiness, big data is not enough.

The problem is this: The things we can measure are never exactly what we care about. Just trying to get a single, easy-to-measure number higher and higher (or lower and lower) doesn’t actually help us make the right choice. For this reason, the key question isn’t “What did I measure?” but “What did I miss?”...So what can big data do to help us make big decisions? One of us, Alex, is a data scientist at Facebook. The other, Seth, is a former data scientist at Google. There is a special sauce necessary to making big data work: surveys and the judgment of humans — two seemingly old-fashioned approaches that we will call small data....For one thing, many teams ended up going overboard on data. It was easy to measure offense and pitching, so some organizations ended up underestimating the importance of defense, which is harder to measure. In fact, in his book “The Signal and the Noise,” Nate Silver of fivethirtyeight.com estimates that the Oakland A’s were giving up 8 to 10 wins per year in the mid-1990s because of their lousy defense.

And data-driven teams found out the hard way that scouts were actually important...We are optimists about the potential of data to improve human lives. But the world is incredibly complicated. No one data set, no matter how big, is going to tell us exactly what we need. The new mountains of blunt data sets make human creativity, judgment, intuition and expertise more valuable, not less.

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From Market Research: Safety Not Always in Numbers | Qualtrics ☑
Author: Qualtrics|July 28, 2010

Albert Einstein once said, “Not everything that can be counted counts, and not everything that counts can be counted.” [Warning of the danger of overquantification) Although many market research experts would say that quantitative research is the safest bet when one has limited resources, it can be dangerous to assume that it is always the best option.
human_ingenuity  data  analytics  small_data  massive_data_sets  data_driven  information_overload  dark_data  measurements  creativity  judgment  intuition  Nate_Silver  expertise  datasets  information_gaps  unknowns  underestimation  infoliteracy  overlooked_opportunities  sense-making  easy-to-measure  Albert_Einstein  special_sauce  metrics  overlooked  defensive_tactics  emotional_intelligence  EQ  soft_skills  overquantification  false_confidence 
may 2015 by jerryking
Market Research: Safety Not Always in Numbers | Qualtrics
Author: Qualtrics|July 28, 2010

Albert Einstein once said, “Not everything that can be counted counts, and not everything that counts can be counted.”

Although many market research experts would say that quantitative research is the safest bet when one has limited resources, it can be dangerous to assume that it is always the best option.

we put together a few guidelines for when one research method might be more useful than the other.

Quantitative:
* For trending purposes, i.e. trends in customer feedback
* Need for quick feedback
* Particularly useful when a company wants to determine how to increase market share
* Product feedback for consumer products

Qualitative:
* Help identify non-obvious ways to delight current customers
* Looking for information to grow an existing market or create a new one
* Market research follow-up questions when numeric scales can be misleading
* Messaging validation for products that are new to the market
* Market validation
* Understanding objections and barriers
* Product feedback for enterprise products

In the article, “Market Research: Quantitative or Qualitative,” the writer Diane Hagglund said, “sometimes numbers provide false confidence and obscure real opportunity.” [Definition of overquantification]

She later added in a follow-up article that her market research firm recommends web surveys as good vehicles for quantifying concepts that the researcher is familiar with and wants accurate percentages for each option.

“This is a valuable thing to do, especially for market sizing, external marketing and PR purpose,” Hagglund said. “But for finding out the answers that you don’t really know, start with qualitative research – and by all means do a web survey next to put those percentages in place once you know the statements to put the percentages with.”

In other words, it’s important to quantify your qualitative research and qualify your quantitative research
market_research  market_sizing  overquantification  storytelling  qualitative  quantitative  Scott_Anthony  dangers  research_methods  non-obvious  enterprise_clients  false_confidence  Albert_Einstein  easy-to-measure  delighting_customers  follow-up_questions 
december 2011 by jerryking

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