Competition should not be for a share of the market-but to expand the market.
W. Edwards DemingRead
The only useful function of a statistician is to make predictions, and thus to provide a basis for action.
Interpretation
What this quote means
Statisticians use data to foresee future trends and guide decision-making.
This quote emphasizes the primary role of a statistician as being predictive in nature. Instead of merely collecting or analyzing data for its own sake, a statistician's effectiveness lies in their ability to apply statistical methods to forecast future outcomes and influence effective decision-making in various fields, thereby turning insights into proactive actions.
Themes
StatisticianPredictionsDataActionDecision-Making
In practice
Example use cases
A business meeting where data trends are discussed to plan future strategies.
More from W. Edwards Deming
All quotes βThe job can't be finished only improved to please the customer.
W. Edwards DemingRead
Don't expect smart people to listen to you without proof.
W. Edwards DemingRead
Quality begins with the intent, which is fixed by management.
W. Edwards DemingRead
Learn the basics of analytics and people will love you. If you don't have time to learn, hire someone.
W. Edwards DemingRead
Just because you can measure everything doesn't mean that you should.
W. Edwards DemingRead
Similar quotes
We must trust to nothing but facts: These are presented to us by Nature, and cannot deceive. We ought, in every instance, to submit our reasoning to the test of experiment, and never to search for truth but by the natural road of experiment and observation.
Antoine LavoisierRead
I have devoted my whole life to the study of Nature, and yet a single sentence may express all that I have done. I have shown that there is a correspondence between the succession of Fishes in geological times and the different stages of their growth in the egg,-this is all. It chanced to be a result that was found to apply to other groups and has led to other conclusions of a like nature.
Louis AgassizRead
This preservation of favourable variations and the destruction of injurious variations, I call Natural Selection, or the Survival of the Fittest. Variations neither useful nor injurious would not be affected by natural selection and would be left a fluctuating element.
Charles DarwinRead
Experimental confirmation of a prediction is merely a measurement. An experiment disproving a prediction is a discovery.
Enrico FermiRead
I think the media can be a very positive influence by essentially holding people to task about the importance of high quality medical care. And when the media is scrutinizing you, then I think that's a very good, positive thing for the field of medicine.
Anthony FauciRead
The real reason why general relativity is widely accepted is because it made predictions that were borne out by experimental observations.
Brian GreeneRead