Unless it’s a major publication there’s no time to fact check data in a report. 99% of all Y!A users reading this question have food crumbs in their pubes right now. As a result thousands of children have been left vulnerable to completely preventable diseases since 1998, and despite Lancet withdrawing the article in February 2010 and multiple studies having been conducted that refute his claims, people still try to use it as a legitimate reason for not vaccinating their children. They had interviewed telecom operators, handset manufacturers and corporate buyers. I say it deadpanned. Color improves brand recognition by up to 80%; 73% of consumers love a brand because of helpful customer service. 80% of video marketers say video has directly helped increase sales. As scientific as that. I was leading the analysis with a team of 14 people: 12 Japanese, 1 German and 1 Turk. Over 99.9% of all statistics are made up on the spot, including the statistic that I just made up right now. Lv 5. I use it as one source of figuring out my version of the truth. as well as other partner offers and accept our. Maybe this needs to change. The headlines in the media are filled with that latest stats. So, where is this all coming from, Mark? Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. was it inclusive enough? 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. Considering that more than a tenth of all retail sales are made online, you can’t underestimate the importance of continuously optimizing your online store. Follow. Spin doctors' stock-in-trade is the manipulation of statistics to sway public opinion. [2] Half of all millionaires are self ... Today’s millionaires in the U.S. are made up of managers (17%), educators (12%), corporate executives (7% ... surprising statistics, controversy, and much more. It’s taking flawed data and making it more extreme. The Widespread Usage of Email. Online gifts made up 8.7% of total giving in 2019 Here’s a handy infographic to help you make a case for online giving; Online donations made up 14.1% of all donations received by nonprofits earning less than one million dollars per year; 47% of … 80% of sales require 5 follow-up calls after the meeting. He must have been about 24. This is often naivete rather than malicious - You ask a group that is not unbiased. Given those numbers, a bit more than half of all startups actually survive to their fourth year, while the startup failure rate at four years is about 44 percent. It can happen. OK, yes. Fortunately I was mostly a technology consultant, which meant that I coded computers, designed databases and planned system integration projects. You’ll do your best to market the benefits ethically while still emphasizing your strong points. I fully recognise that it’s imperative for us as a society to understand life as we know it. These video marketing statistics show the importance of video marketing for your business, ... SEO Made Easy—Ultimate Guide to Explode Your Traffic In 2021; 18% of all errors come from people using the wrong documents. “I’m shocked, shocked to find that gambling is going on here.” We all know it happens. We’re a lazy society, and only the people with way too much time on their hands can be bothered to double check everything (I bet if I didn’t state that my title is a joke, people would cite it as a genuine statistic). I grilled the analyst a bit. Email has made its way from being simple messages between academics to a global academic. Every investment banker I know is “number 1″ in something. I say it deadpanned. Home; Oct 21 2014. Then the data got amplified. 11 Answers. In 2019, global email users amounted to … More than 500 aircraft maintenance organizations are currently using MEDA to drive down maintenance errors. Read more quotes from David Mitchell. Stats sell. 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. 13% of GDP is construction – the largest industry. Numbers are important. - what motives might these people have had? 2 2. cisco. It’s outcome was that wearing wet underwear in the cold is not a good idea, Several researchers at Shiseido Research Center in Yokohama came out with a study concluding that people who think they have foot odor do, and people who don’t, don’t. 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. BOMUS.org is your one stop source for instantly made up statistics. 0.8 hours are spent every day by workers searching for documents. Relevance. 20 Statistics About Branding Every Entrepreneur and Marketer Should Know. Leave a comment. Scarface. I had reports from Gartner Group, Yankee Group, IDC, Goldman Sachs, Morgan Stanley and a couple of others. 'Statistics can be misleading.' Companies and individual LinkedIn members have ramped up their LinkedIn content to stay in touch with professional contacts and colleagues in this unprecedented year. 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. I encourage it. Account active Favorite Answer. 9. 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.”. More Quotes from Steven Wright: A beautiful woman moved in next door. 98% of all statistics are useless. But you have to understand how to interpret your numbers. Leave a comment. As my MBA statistics professor used to say, “seek disconfirming evidence.” That always stuck with me. ”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. I always try to think to myself, “what would the opposing side of this data analysis use to argue its weaknesses?”. Mark Suster is a former entrepreneur and currently a partner at GRP Partners. The headlines in the media are filled with that latest stats. If two Scandinavian countries with areas actually in the Arctic Circle have to officially investigate and conclude that wet underwear in the cold is bad, what hope is there for research that actually matters? I got the analyst who wrote one of the reports on the phone and asked how he got his projections. Eight percent have law degrees, 6% have medical degrees, and 6% have PhDs. And so I guess here we see that research is good, and research is bad, or rather, pointless. Here are some examples: - You ask a small sample set so that data isn’t statistically significant. 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. It becomes folklore. I have seen this so many times I consider it routine, which is why I question ALL data that I read. 60% are willing to give to their church digitally. - Also common is that the survey itself asks questions in a way that leads the responder to a specific answer. 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 canceled their subscription. We all took that data as the basis for our reports. Anyone with a great deal of experience in dealing with numbers knows to be careful about the seduction of them. The stats are often quoted from the latest reports. Churches that accept tithing online increase overall donations by 32%. They, too, were staffed with super smart twenty somethings. People then parrot them around like they’re fact when most of them are complete bullsh*t. People throw them around at cocktail parties. ... 70-80% of consumers ignore ads on the sides of websites or search results – regardless of the search engine they are using. I know it sounds like I’m making this sh*t up but I’m not. I’m not picking on them. Use the following form to get made up statistics on the subject of your choice. 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. 'You didn't borrow this.' And some of their children die from this. Often when they do I throw out my favorite statistic: 73.6% of all statistics are made up. Lv 4. Enter the data in the form of a question for best results. This post was originally published on Mark's blog. 83 Percent of All Statistics are Made Up on the Spot Saki (H.H Munro) said, “A little inaccuracy sometimes saves tons of explanation.” Today we have tons of inaccuracy and very little explanation. I forget to post things a lot, just bear with me. No one wants to get bogged down with too many facts and figures when all they’re trying to do is skim-read a 4 minute article. I had to read each report, synthesis it and then come up with our best estimate of the markets going forward. And yet, only the researchers themselves seem to actually care. I’m shocked, shocked to find that gambling is going on here. Takeaway: Just because you’ve got a foot in the door, doesn’t mean you’ve closed the sale. 44% of sales reps give up after 1 follow-up. (Phew, we made it all the way to stat 16 before saying “unprecedented.”) 17. 'I will.' 43.7% of all statistics are made up right on the spot. Research is not only important for understanding, but also for discovering life-saving treatments and cures. So did the super bright consultants at McKinsey, Bain and BCG. "How so?" Online Donation Statistics. I’m writing this post to make sure you’re all on that same playing field. To see what your friends thought of this quote, please sign up! And this data subtly sinks into the psyche of your company. In the end make sure you’re suspicious of all data. how big was it? The problem got worse as the data flowed out to the “bulge bracket” investment banks. They took the data from the analysts. Amplification is one thing. Stats sell. 27 percent of people make up statistics to support their arguments, so you stand a roughly 1 in 4 chance of running into someone like that in any given discussion. 6. Explore, If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. Taste Loss in Covid-19: What Do We Really Know About It? LinkedIn Live streams increased by 437% in 2020. Tagged 80PercentOf, Birds, fly. And then they market the F out of that result. And even then …. Susie G Scott. ... 72% of the best brands are named with made-up words or acronyms. I wish it ended there. 23% of all costs are inefficient. Rose Eveleth wrote an article for Smithsonian.com about this exact topic, citing a 2007 study conducted by Indiana University Bloomington that claimed “as many as 50% of papers are never read by anyone other than their authors, referees and journal editors.” They also stated that 90% of published papers are never cited. Presenting a brand consistently across all platforms can increase revenue by up … 87% of statistics are made up on the spot!!!!? 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. 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. I look for more sources if I want a truer picture. I’m going to break that rule — just this once — to include a study that supports this point. Nielsen just released the number last month.”. Did you know 80 percent of all facts are made up? It's an important phrase to keep in mind when reading opinionated news stories, or to repeat like a mantra when attempting to maintain your sanity in the face of the truly terrifying stats. So I went over and returned a cup of sugar. Steven Wright My theory of evolution is that Darwin was adopted. That’s how the anti-vax movement started — people not verifying the facts that are spewed to them. I was in the midst of sizing the mobile handset markets in 3 regions: US, Europe and Asia. Even more so with journalists. 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. 93.227% of statistics are made up on the spot. Of those, only about half get hatched. In 1999 I was in Japan doing a strategy project for the board of directors of Sony. I realise this article got pretty heavy pretty quickly, and that wasn’t my intention, so I’m going to try and lighten it up a bit. How is it skewed? And then I triangulate. People trust researchers and journalists to tell them the truth, and so it becomes their duty to ensure that they actually do that. 87.6 Percent Of Statistics Are Made Up On The Spot Funny Quotes, Ironic Quotes, Sarcastic Quotes, Funny Gift This premium t-shirt is made of lightweight fine jersey fabric Fit: Men’s fit runs small, size up for a looser fit. 80PercentOf. I say it deadpanned. Flower Industry Statistics Data Value of the global floral trade industry $104,825,000,000 Annual U.S. spending on floral products $26,600,000,000 Total value of cut flower sales $7,500,000,000 Percent … They got the data feed either from the research company or from the investment bank. Women’s fit is true to size, order usual size. First, that 80% of sales are made after the fifth call, and second, that 92% of salespeople give up before that. But subtle changes in words can totally change the way that the reader interprets the results. ... It’s time to start using video so you can keep up. Uncategorized. But what worries me much more is skewed data. Tithers make up only 10-25 percent of a normal congregation. Roughly 80 percent of all the packaged foods sold within the United States contain chemicals outlawed in other parts of the world, Britain’s Daily Mail reports. - who paid them? It’s easy and free to post your thinking on any topic. So you end up with superlative amplification. 1 decade ago. He said, literally, I sh*t you not, “well, my report was due and I didn’t have much time. Mark Suster is a former entrepreneur and currently a partner at GRP Partners. 42.7 percent of all statistics are made up on the spot. That’s a big amount when you consider how many studies are conducted across the globe. Share this quote: Like Quote. Statistics aren’t evil. I told this story to every consultant I knew at the time. Leave a … They were as hoodwinked as everybody was. 80% of sales are made on the fifth to twelfth contact These stats come courtesy of the National Sales Executive Association, and are usually shown … That’s OK. With no numbers as proof points few people will buy your products. 80 percent of birds are unable to fly. When I write these articles, I purposely exclude references to studies, research, etc. I’d rather make decisions with uncertain numbers than no numbers. And if anybody can’t publish something saying “just in, next year looks like a repeat of last year” it’s a newspaper. With thanks to Florentina Mitrache and Ellena Restrick, Writing from Creative and Professional Writing students…. 4 years ago. If you include images in your content and on your site, people are more likely to remember you. It was originally COBOL and DB2 – so what? “over 85% of all statistics are made up on the spot.” ― David Mitchell, Number9Dream. Andrew Wakefield was a gastroenterologist by training and yet took it upon himself to pay families for blood samples at his son’s birthday, publish his ‘research’ in the medical journal Lancet and no one that read it bothered to look into it. Nobody does this stuff free. Isn't statistics wonderful?" 80 percent made it to the second year (2015); 70 percent made it to the third year (2016); 62 percent made it to the fourth year (2017); 56 percent made it to the fifth year (2018). We asked our readers to dig up statistics that will cause you to … People that read articles that cite endless amounts of research studies rarely bother to check if it’s true. Top Branding Statistics (Editor’s Choice) It takes 5 to 7 impressions for people to remember a brand. 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. But I promise that all the ones I post are 72% authentic ;p Studies show that if a cat falls off the seventh floor of a building it has about thirty percent less chance of surviving than a cat that falls off the twentieth floor. Steven Wright Today, I dialed a … I googled ‘Funny Research’ and the first hit was from list25.com, so here are my favourites (there’s a few): Citing research is important for verifying that what you’re saying is true. A look into the tech transformations underway at the world's largest companies. 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. But these people went to slightly better schools (Harvard, Stanford, Wharton, University of Chicago) and got slightly better grades. Answer Save. Write on Medium, CRISPR Has Many Promising Applications — but the Gene-Edited Twins Represent Something More…, Space and time may be both digital and analog, This Company Wants to Replace Braille With a Controversial New Font, Our Bravest Ancestors May Have Hunted Giant Sloths. I called another agency. Continually seek the truth in the form of better customer surveys, more insightful market analyses and more accurate ROI calculations. And be careful not to believe your own hype. Obviously try to derive data that is as accurate as possible. But for my sins I got an MBA and did “strategy” consulting. You’re either paid up front “sponsored research” or you’re paid on the back-end in terms of clients buying research reports. You pick out the answers that support your findings and leave out the ones that don’t support it from your report. ... (I bet if I didn’t state that my title is a joke, people would cite it as a genuine statistic). Friends Who Liked This Quote. - and the important thing about data for me … I ingest it religiously. I started my life as a consultant. Often when they do I throw out my favourite statistic: 73.6% of all statistics are made up. 5. A leading-edge research firm focused on digital transformation. According to Research, 80% of Statistics Are Made Up. In data analysis you want to look for “primary” research, which means the person who initially gathered the data. 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. The stats are often quoted from the latest reports. Oct 16 2014. Often I’ll get some people look at me like, “really?” ”It’s true. Here’s a list of interesting email marketing statistics that go to show just how valuable email marketing is. 1. 49% of all church giving transactions are made with a card. 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. They just define their category tightly enough that they win it. 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. Ask yourself the obvious questions: - who did the primary research on this analysis? The bankers and consultants weren’t paid to do too much primary research. This reminds me of a Dilbert Cartoon: Panel 1: Dilbert: I didn't’t have any accurate numbers so I just made this one up. Researchers have found that 65 percent of the population is made up of visual learners, leaving auditory and experiential learners in their dust. 40% of costs are labor, 40% are materials and 20% are overheads. 80 percent of songs are intelligible when played backwards. - 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 Salesforce.com AppExchange where you get your friends to rate your app 5 out of 5 so you can drive your score up. since, “No Rules Rules: Netflix and the Culture of Reinvention”. What are you on about? Learn more, Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Statistics can be manipulated to prove just about anything that you want...it depends on your sampling, your demographics, the questions asked, how the numbers are filtered or slanted. It’s important to quantify the value of your product or service. Sign up for Innovation Inc. By clicking ‘Sign up’, you agree to receive marketing emails from Insider No, Science Will Never Make Philosophy Or Religion Obsolete, A Fly Experiences Time 4x Slower than You Do, The University of Massachusetts financed research about why shower curtains billow inwards when the shower is running, Cornell University and the University of Illinois published a report titled “Unskilled and Unaware of it: How Difficulties in Recognizing One’s Own Incompetence Lead to Inflated Self-Assessments”, The University of East Anglia researched the best way to make a teapot with a spout that doesn’t drip, In keeping with the British tea theme here (I am, after all, British) the University of Bristol conducted a study investigating the optimal way to dunk a biscuit, Aston University had a study published in the European Journal of Physics about how toast tends to land on the buttered side, Sintef Unimed in Norway and the Technical University of Denmark published “The Impact of Wet Underwear on Thermoregulatory Responses and Thermal Comfort in the Cold”.
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