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Phil Green

Phil Green

author, misLeading Indicators: How to Reliably Measure Your Business

Canada | Professional Services - Business Consulting

Eat oats!

Posted almost 4 years ago, 0 comments
Official inflation numbers are very low and do not correspond with the reality people face when they shop.
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Reinhart and Rogoff story shows how important it is to check your indicators

Posted about 4 years ago, 1 comment
This month two academic researchers showed that there were errors in the calculations behind the claim by economists Carmen Reinhart and Kenneth Rogoff that the relationship between government debt and real GDP growth is weak for debt/GDP ratios below a threshold of 90 percent of GDP. Above 90 percent, median growth rates fall by one percent, and average growth falls considerably more.
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How statistical process control charts mislead

Posted about 4 years ago, 0 comments
The statistical process control chart is designed to help differentiate between what are usually called “common” causes of variation and “special” causes. But this is very misleading.
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Top ten reasons for reading misLeading Indicators: How to Reliably Measure your Business

Posted about 4 years ago, 0 comments
There are many books that tell you what to measure to succeed in a business strategy or to improve business performance. Ideas on what to measure may indeed be very useful. But these ideas won’t help you, and may even be harmful, if you do not know whether what you are measuring is misleading you.
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How Western Electric rules mislead in statistical process control

Posted about 4 years ago, 5 comments
The statistical model behind control charts for in-control processes is based on the assumption a Gaussian process with no autocorrelation (i.e. independent) with a constant mean and constant variance: in other words a white noise process. The various Western Electric rules try to find patterns that are not white noise, and thus show that the process is out of control.
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