Why read The Average is Always Wrong?

Book cover of The Average is Always Wrong

Book description

Everywhere you look people are talking about data.

Buzzwords abound - 'data science', 'machine learning','artificial intelligence'. But what does any of it really mean, and most importantly what does it mean for your business?

Long-established businesses in many industries find themselves competing with new entrants built entirely on data and…

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Business

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Why read it?

1 author picked The Average is Always Wrong as one of their favorite books. Why do they recommend it?

Paquita Lamacraft

Author

I love the fact that I had confirmation that what your data is telling you is probably not what it seems.

This book brilliantly explains the buzzword vocabulary of financial “experts” and what the data that goes with those buzzwords actually show. It’s a wonderfully simple explanation of each term with examples of how skewed the bar graph may be and why, and where real value lies and how to find it.

I found new insights on how to better analyse customer behaviour—without the fancy graphs—and suggestions of what to do about it.

From Paquita's list on practical rethinking so you can tailor your own solutions no matter how much complexity you face.