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Tag / Statistics

Bayes, Crime, and “Big Enough” Data

It’s funny how words, when used in different contexts, take on completely different meaning. Same spelling but different context. Thus a different meaning. Technically speaking, these are called homographs. For example: The term “axes” can mean either … (a) a plurality of a certain hand tool, or (b) a plurality of fixed reference lines for […]

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The Best Book To Understand Uncertainty

The Black Swan Rating: 10/10 Best Line #1: I am going to be blunt. Best Line #2: When we think about tomorrow, we just project it as another yesterday. The very idea of uncertainty is foreign to many people. It isn’t solely about ignorance. There is much that we recognize we do not know. It […]

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How To Make A Lot Of Money

Jim Barksdale once said that you make money two ways: by bundling or unbundling things. I think this is a very helpful idea. It isn’t the only way to make money but it’s a proven method. A successful bundling approach is Netflix. They take all the entertainment you want in put it in one helpful […]

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History Doesn’t Repeat. But Mistakes Do.

This week’s book is Nassim Nicholas Taleb’s first salvo against modernity, the 2004 classic Fooled By Randomness. I’ve read this book several times and it is still a difficult thing to parse into simple articles and broad reviews. Mostly because everything in this book continues to carry the sort of insight that stretches my thinking […]

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Data as Therapy

The title is a line from this week’s book, Factfulness. It’s simple. Three words. And yet, it really improved my view of data. Hans Rosling wrote this book for all of us who get mired in the spiral of suggestion. That’s literally everyone. We are whipsawed on a daily basis by the one-two punch of […]

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The System Works For You

This post is a tribute to W. Edwards Deming, born on this day in the year 1900. The system works for you. At the start, anyway. Then it doesn’t. The cover sheet for the TPS report? Yes, that was part of a great joke from Office Space but it was also a part of the […]

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A Fine Book for Playing The Game Better

Game Theory and Management By Michael Hatfield Rating: 7/10 Best Line:  The very best manager with 20% of the information needed to reach the best decision will be bettered by the poorest of managers who have access to 80% of the information needed. Funniest Line: It didn’t take me long to realize that the accountants […]

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Unknown Unknowns

You might remember this one. In December of 2012, as the nation was wrapped in a debate over the presence of weapons of mass destruction in Iraq, Donald Rumsfeld was asked a question. It came from a reporter during a press briefing at the Pentagon. Video is below but here’s Rumsfeld’s response: “Reports that say […]

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The Best Book To Understand Data

Naked Statistics by Charles Wheelan Rating: 9/10 Best line: Statistics alone cannot prove anything; instead, we use statistical inference to accept or reject explanations on the basis of their relative likelihood. Next best line: Probability doesn’t make mistakes; people using probability make mistakes. The effects of statistics, as a discipline, are completely unavoidable today. I […]

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