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To explain, let’s borrow a quote from Nate Silver’s The Signal and the Noise : One of the most important tests of a forecast — I would argue that it is the single most important one — is called calibration. If, over the long run, it really did rain about 40 percent of the time, that means your forecasts were well calibrated.
Your digital performance dashboard has 16 metrics along 9 dimensions, and you know that the font-size 6 text and sparkline sized charts make them incomprehensible. Focus only on KPIs, eliminate metrics. Here are the definitions you'll find in my books: Metric : A metric is a number. Time on Page is a metric.
But each keyword gets "credit" for other metrics. The best option is to hire a statistician with experience in data modeling and forecasting. Brian Krick: Best way to measure and communicate "available demand" from available channels (social, search, display) for forecast modeling. Please see the advice above.
I don’t have a metric to estimate the time it takes to change company culture because that’s what we call a very small dataset. Without delving into economic forecast techniques such as J curves, GPTs, etc., Frédéric Kaplan, Pierre-Yves Oudeyer (2007). Large-Scale Study of Curiosity-Driven Learning”. Yuri Burda, et al.
In many organizations, FP&A professionals have less time for analysis because the mechanical process of pulling together and collating data takes up so much time that little remains for using data to spot trends, find opportunities and isolate issues to create better-informed forecasts, plans and decisions.
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