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Metrics Mess: Five Sad Truths About Measurement Right Now

Metrics Mess: Five Sad Truths About Measurement Right Now | Business Transformation | Scoop.it

One lesson we have to relearn every time we're seduced by stark new social-media data sets: Human beings are gloriously erratic, unpredictable and hard to read; the data they throw off is, too. 

Karl Wabst's insight:

In our hyper-social, ADD World, knowing who your friends really are is a lot harder than you might think. Measuring what we think is important and driving decisions off those metrics could lead you astray quickly.

 

The old adage "what gets measured gets managed" could explain why so many brands seem mismanaged to those of us without knowledge of the metrics used to make marketing decisions.

 

Perhaps Mark Twain offers better guidance. "There are three kinds of lies: lies, damned lies and statistics."

 

If you have never watched it, check out this video about the wisdom of using statistics to create your product.

 

Sebastian Wernicke: Lies, damned lies and statistics (about TEDTalks)

http://www.ted.com/talks/lies_damned_lies_and_statistics_about_tedtalks.html

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Business Transformation
Corporate & Business Strategy Planning / Execution in the Post Industrial, Digital Economy. Want to know more? Visit me on LinkedIn: www.linkedin.com/in/karlwabst/
Curated by Karl Wabst