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This book reveals the hidden and potentially misleading nature of
measurements, empowering readers to avoid making critical business
decisions that are harmful, unreasonable, unwarranted, or plain
wrong. Decision makers in business and government are more reliant
than ever on measurements, such as business performance indicators,
bond ratings, Six-Sigma indicators, stock ratings, opinion polls,
and market research. Yet many popular statistical and business
books and courses relating to measurement are based on flawed
principles, leading managers to the wrong conclusions-and
ultimately, the wrong decisions. misLeading Indicators: How to
Reliably Measure Your Business provides something unique and
invaluable: trustworthy tools for judging measurements. Each
chapter illustrates the four key principles for reliable
measurements: sufficient background information, accuracy and
precision, reasonable inferences, and reality checks in different
situations. After the three fundamental methods of measuring are
defined, the authors expand to the application and interpretation
of measurements in specific areas, including business performance,
risk management, process, control, finance, and economics. This
book supplies essential information for managers in business and
government who depend on accurate information to run their
organizations, as well as the consultants who advise them.
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