Contrast Parameters when information is presented in a vacuum with no comparative baseline of relevance, it becomes increasingly difficult to draw conclusive findings that would warrant significant confidence.If the degree of significance isn’t given, it may be assumed to be lower than 5%, which means that the results could be due to chance than anything else, and that reduces its scalability. chance! In almost all cases, for a figure to be statistically significant, the degree of significance needs to be more than 5%, which means that the results are real and not attributable to chance. Degree of Significance is a measure of how likely the findings are due to result vs.

That’s why If you’re presented with a single figure, and there aren’t any indications of how reliable the data truly is or what the probable error could be, it may not be as accurate as you might presume.

Probable Error is a measure of how reliable a figure is, which is expressed in the form of a range that the true results fall in between.

There are four types of Information Deceivers that are often neglected to include when presented:

That’s NOT how consultants operate, but that’s precisely what you need an executable practical solution with success metrics that are developed from the bottom-up instead of from the comfort of the executive office! Even better, these companies work with existing allocated budgets without requiring significant large budgets, which makes executing recommendations quicker and more effective. Painkillers are typically companies that offer solutions to help their clients by systematically drive more revenue or lower current costs out of their business and eliminate waste.They’re not in the business of curing your operational struggles or plans for growth, rather, they’re in the business of prolonging the issues you’re facing and mask them with the veneer of statistics and colorful figures, so that they could get hired over and over again. Vitamins are “nice to have,” but not “need to have”, which is optional instead of being a requirement, and that’s how consultants operate.

So, what are the differences between “Vitamins” and “Painkillers” when it comes to consultants?

How to lie using statistics