Professional Documents
Culture Documents
And then just to finish, going back to the two kinds of people, he
thought it would be really interesting to see how people who are
good with numbers would do on this quiz. The national
statistician of England and Wales, John Pullinger, you would
expect he would be pretty good. He got 44/100 for his own area.
Jeremy Paxman, admittedly, after a glass of wine – 36/100. Even
worse. It just shows you that the numbers can inspire us
all. They can surprise us all.
Why and how are these insights relevant to a
manager in India?
• In order to achieve success, a manager must be well
acquainted with the statistical knowledge of the aspect he is
dealing with.
• STATISTICAL DATA/INSIGHTS are the basis on which a
manager can make calculated decisions, be it business
decisions, employee related decisions and so on.
• We clearly saw the drastic difference between perception
and statistics based reality, and can imagine the extent to
which a wrong decision can be made considering only a
perception and not numerical data.
Daniel Kahneman, the Nobel-winning economist and his
colleague, Amos Tversky, spent years researching this
disjoint between what people perceive and the reality, the
fact that people are actually pretty poor intuitive statisticians.
Individual experiences, certainly, can influence our
perceptions, but so, too, can things like the media reporting
things by exception, rather than what's normal.
• Thus these insights clearly indicate that a manager needs
to account for exact data for accurate business changing
decisions.