Contemporary Analysis

Data Science

Grant Stanley

Don't Just Count, Measure

The United States faces a shortage of 140,000 to 190,000 people with deep analytical skills and 1.5 million managers and analysts to analyze data and make decisions based on their findings. — Big Data: The next frontier for innovation, competition, and productivity

Measurement can be defined as a quantitatively expressed reduction of uncertainty based on one or more observations, while counting is to determine the exact number or amount of something.  Executives have become obsessed with counting; they track everything from inventory, hours worked vs. hours billed, number of Facebook fans, website visitors and much more.  It is easy to like counting, because it is familiar and exact. However, it is time to move beyond counting, and start measuring.

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