Opinions, data and method
The starting quote:
Without data, you're just another person with an opinion — W.E.Deming Data Scientist.Each quote's meaning is going to change out of its original context and this is the main reason because we love quoting.
A panel of opinions is the fuel of innovation.Data will get into the scene when alternatives, options and opportunities have been explored then a feasibility analysis would take place. A detailed analysis is not necessarily necessary if we initially focus on the right set of key performance indexes (KPI) and a reasonable worst scenario plus an exit strategy.
It is better to have a few main analyses and go in depth with the one more promising.Moreover, data will change during the action plan, for this reason it is more useful to have a good real-time data management rather than a single detailed initial analysis.
Despite the complexity, each system has its own leverage points and intrinsic KPIs.If we adapt our "business view" in terms of these new variables, then our actions and feedback reactions will be aligned with the system internals. This will allow us to act effectively.
Without a method, data is just numbers.We always could stretch and massage the numbers long enough to make them say what we like. A method is not like a box that prevents us from catching opportunities but it is something like ethics: it prevents us from being fooled by ourselves.
Update from comments
Thanks to Rohan Hine:People with opinions, based on experience and skill, out perform data driven strategy every time.Use caution when relying on pure data because the wise filtering and interpretation of data differentiates commercial success from failure. Thanks to Pamela Williams:
Moreover, data will change during the action plan, for this reason it is more useful to have good real-time data management rather than a single detailed initial analysis.Getting decision makers to recognize this is extremely difficult. They don't understand data changes constantly, what is true today is wrong tomorrow. I repeatedly point out that we have to watch trends as there is no single point "right" time.
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© 2025, Roberto A. Foglietta <roberto.foglietta@gmail.com>, CC BY-NC-ND 4.0