How to Measure Anything: Finding the Value of "Intangibles" in Business
Now updated with new research and even more intuitive explanations, a demystifying explanation of how managers can inform themselves to make less risky, more profitable business decisions
This insightful and eloquent book will show you how to measure those things in your own business that, until now, you may have considered "immeasurable," including customer satisfaction,...more
The first is the "moneyball" type: a phenomenon where we know intuitively that there are important differences in measurable outcomes but we lack statistically significant explanations. The challenge here is to find things to measure that are consistently revealing of the phenomenon you are ultimately interested in measuring (say team wins). Maki ...more
Hubbard's taxonomy and mine don't fully jive, but that's a minor point; I found much more to like than not. I like to highlight and make notes in good books...this book is full of both. I especially like one of his "useful measurement assumpti ...more
As the title suggests, throughout the whole book the author strongly defends the case that everything can be measured, even though the method may not be obvious at first glance. The book structure basically consists of the explanations of why this is so and various examples and methods that should help the reader to deal with many types of such p ...more
Ah, that is where this book was insightful an helpful. Hubbard aserts that there isn ...more
1-If it's really that important, it's something you can define. If it's something you think exists at all, it's something you've already observed somehow.
The first half is very recommended as it goes into what it means to “measure” something and suggest some very fundamental questions regarding measuring. E.g.:
What is it you want to have ...more
The good parts:
I learnt how to measure the population of fish in a lake. That's quite cool! I will not give a spoiler here, enough to say that it involves catching and tagging the fish.
The second half is a bit more technical and I wished I had been reading in paper instead of in audio. I may do that eventually. The pacing is a little hard in audio and I could have benefited ...more
1. Make a list of factors you think are relevant
2. Convert each of these features into a z-score
3. Add them up to get an overall ranking
Before measuring something answer the following:
1. what decision does this support
2. what observable consequences does it have?
3. how does this matter to the decision?
4. what is current leve ...more
Cutting through the chase - I feel deeply disappointed. I feel like this book is more about decission making and statistics (or probabilities) rathern th ...more
I found the first half of the book excellent. It was dense with intui ...more
This book is not your typical breezy business book that you skim/read on an airplane flight. It's closer to a text book in terms of information density and complexity. Bayesian statistics, calibrated experts, Monte Carlo simulations and a pile of other data heavy methodologies are brought to bear on some very challenging measurement questions.
The basic premise of this book is that far more things can be measured - to some degree of confidence - than you might ever imagine. If you are ...more
Overall, the information was great. I have learned to approach measurements and goals with more of a plan in mind and got so ...more
My top 5-10 takeaways were:
- To be valuable, a measurement doesn't have to remove uncertainty, it just needs to reduce it.
- If it matters at all, it is detectable/observable. (Even for "touch-feely" things like employee engagement.)
- You often don't need to know something with absolute certainty. The amount when it starts to matter is the "threshold". If you can measure enough to meet the threshold, ...more
1. What are you trying to measure?
2. Why are you trying to measure?
3. What is the value of the measurement? What is threshold for error and is additional effort economically justified?
^ This defines if I really NEED to measure something
4. So what do we know about the subject? How much uncertainty is there?
5. What are observations methods to confirm o ...more
The author presents his approach to measurement and defends an statistical approach to decision making.
Bayes, Paul Meehl, Kahneman, Tversky or Fermi are some of the references used in the book.
You can learn about esti ...more
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