Statistics Don’t Lie: Statisticians Do

Does your data tell the truth?  The data can be true, but wrong.  The analysis can be valid, but misleading. With the expanding importance of data to manufacturing operations, it’s important to have both quantitative and business acumen.

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One thought on “Statistics Don’t Lie: Statisticians Do

  1. As my mentor told me yeas ago, “Just remember kid, figures can lie, and liars can figure.”

    My boss of twenty years scolded me for achieving a higher percentage of labor to sales compared to a previous year..
    I lost $ thousands in an annual bonus program.
    What he failed to mention was that gross profits far exceeded previous years, and “the assets were taken care of” as well.

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