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Quote by Henry Ford

“We abolished every order blank and every form of statistics that did not directly aid in the production of a car. We had been collecting tons of statistics because they were interesting. But statistics will not construct automobiles—so out they went.”

Quote by Henry Ford

Book:My Life and Work
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My Life and Work

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Henry Ford

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“A good metric is a ratio or a rate. Accountants and financial analysts have several ratios they look at to understand, at a glance, the fundamental health of a company. You need some, too. There are several reasons ratios tend to be the best metrics: • Ratios are easier to act on. Think about driving a car. Distance traveled is informational. But speed—distance per hour—is something you can act on, because it tells you about your current state, and whether you need to go faster or slower to get to your destination on time. • Ratios are inherently comparative. If you compare a daily metric to the same metric over a month, you’ll see whether you’re looking at a sudden spike or a long-term trend. In a car, speed is one metric, but speed right now over average speed this hour shows you a lot about whether you’re accelerating or slowing down. • Ratios are also good for comparing factors that are somehow opposed, or for which there’s an inherent tension. In a car, this might be distance covered divided by traffic tickets. The faster you drive, the more distance you cover—but the more tickets you get. This ratio might suggest whether or not you should be breaking the speed limit.”

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Book:Lean Analytics: Use Data to Build a Better Startup Faster
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“Deity does not create data and then bestow it upon mankind. All data is man-made. Somebody, at some point, decided what data to collect, how to organize it, how to present it, and how to infer meaning from it—and it embeds all kinds of false rigor into the process. Data has the same agenda as the person who created it, wittingly or unwittingly. For all the time that senior leaders spend analyzing data, they should be making equal investments to determine what data should be created in the first place.”

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