Wednesday, January 13, 2010

One well designed metric is better than multiple poorly designed metrics

Obvious, is not it? However, in practice we often go for quantity rather than quality. How about looking at this metric by region? What about product categories? Customer status? Average revenue? Those are all familiar ways to get to the answer by numbers rather than by insight. Instead of going on a slicing and dicing rampage, often it does pay to think twice about where you want to cut next, and cut very diligently. The is one of my zen habits of analytics - to answer the question with the least amount of data possible. Too many numbers on the report/screen translate into junk in the head.
Interesting take on the issue of choice and simplicity is described in the book Paradox of Choice by Barry Schwartz. Just adding to the eternal struggle of wanting more, but being unhappy when we get more. Simple is beautiful.

2 comments:

Anonymous said...

Are you going to continue with your blog? I find it interesting! Thank you!

TZ said...

Definitely maybe. Thinking, I might have more to say.