Wednesday, July 25, 2012

All Data Aspires to Relevance

During World War II, [Nobel laureate, Ken] Arrow was assigned to a team of statisticians to produce long-range weather forecasts. After a time, Arrow and his team determined that their forecasts were not much better than pulling predictions out of a hat. They wrote their superiors, asking to be relieved of the duty. They received the following reply, and I quote "The Commanding General is well aware that the forecasts are no good. However, he needs them for planning purposes."
– David Stockton, FOMC Minutes Sep 2005

I once attended a meeting chaired by a man who became the CEO of one of the largest and most successful insurers in the nation who shouted during a discussion, "Bad data is better than no data at all!"

No popular discussion of scientific data or opinion should be undertaken without this in mind.

This is a technological society but not a scientific one.

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