Measuring might seem boring but it is the only source of course correction and it can be used to adjust performance incentives. It is no secret that great athletes and coaches are measuring fanatics. Understanding what efforts and behaviors bring about the desired results is fundamental to improving performance. Remember that better measuring equals better reality which enables
However, we don't always control the measurement or have access to the data we need to make a good measurement. For instance, when going to the doctor we don't have the training and expertise to determine the accuracy of their diagnosis but we can and should get a second opinion. When we hire a contractor and we are not sure if we are getting the best price or product we can get another estimate/ opinion.
Most of us are in the business of providing (ie. packaging) information for users in a way that would influence their decision making process. We have a vested interest in the outcome because their decision will affect our economics. There are not too many entities that package information without a vested interest, not even our government. So when you get your economic data from an economist or from the government you have to assume that some of that bias is baked into their measurements. Doesn't the government have a vested interest in a lower unemployment number or a lower inflation number or higher retail sales number? Sure they do! So, go get a second opinion and here is one valuable place to do it. http://www.shadowstats.com/ This company does their own research and gathers their own data to produce the same economic reports as the government only with different results. It may change the way you make business and investment choices.
However, we don't always control the measurement or have access to the data we need to make a good measurement. For instance, when going to the doctor we don't have the training and expertise to determine the accuracy of their diagnosis but we can and should get a second opinion. When we hire a contractor and we are not sure if we are getting the best price or product we can get another estimate/ opinion.
Most of us are in the business of providing (ie. packaging) information for users in a way that would influence their decision making process. We have a vested interest in the outcome because their decision will affect our economics. There are not too many entities that package information without a vested interest, not even our government. So when you get your economic data from an economist or from the government you have to assume that some of that bias is baked into their measurements. Doesn't the government have a vested interest in a lower unemployment number or a lower inflation number or higher retail sales number? Sure they do! So, go get a second opinion and here is one valuable place to do it. http://www.shadowstats.com/ This company does their own research and gathers their own data to produce the same economic reports as the government only with different results. It may change the way you make business and investment choices.
RSS Feed