2 key takeaways from Alan Smith's TED talk in Exeter 'Why you should love statistics' and its relevance for Managers

1. How to not suck at Decision Making!!

2. Based on the TED talk ‘Why you should love
statistics?’ by Alan Smith

3. My
2

4. Irrespective of
numeracy, people are
poor intuitive
statisticians

5. Most Surveys suggest a disparity between
what we think, our perception, and the
reality as given by statistics

6. I have a question for you!

8. Well, you are wrong
Official figures suggest obesity
affects 5% of the Indian
population!

9. What is causing this misperception?
It is due to the bias resulting from your individual
experiences

10. To overcome this inherent
fallacy, we need to
acknowledge that we suck at
intuitive estimation!

11. If we want to stop making uninformed
decisions, we need assistance from the
TRUTH itself!

13. India, with such a diverse population has a
different story to tell in each state, each
city, each district

14. For instance,
Best of decision makers/Leaders can fail to
estimate food quantity required for PDS
without proper context

15. Hence, we need Managers who can
leverage DATA and make it tell the real
story!

16. Take better
Decisions &
Make the
world a better
place!

17. Disclaimer:
This presentation was created by Raminder Singh,
under an internship by Prof. Mathur, IIM Lucknow.