This document provides guidance on statistics and numeracy skills. It discusses how there are known knowns, known unknowns, and unknown unknowns when it comes to data. Good decision making requires understanding data through numeracy skills. Common mistakes managers make include not using all available data and not connecting people to the data. The document advocates for better use of data in business through statistical awareness and interpretation.

1. KNOWN AND UNKNOWN: THE
STATISTICIAN’S GUIDE ON
CROSSING A DESERT

2. TAKE AWAYS AND INSIGHTS
1
• Statistics is about us
2
• The new age of progress
requires good numeracy
skills
3
• People lack good numeracy
skills caused by biases,
environment and
preconceived notions

3. IMPORTANT INSIGHT #1
Being
Aware
of Data
Not being
aware of
data
Being blind to
data unawareness

4. SOCRATES USES HIS WIT
I don’t need to worry. I will
cross the desert for I am
wise. I know that I know
nothing.
Disputed Fact:-Philosophers
don’t make good statisticians

5. MATRIX OF AWARENESS

6. There are known knowns. These are things we
know that we know. There are known
unknowns. That is to say, there are things that
we know we don't know. But there are also
unknown unknowns. There are things we don't
know we don't know.

8. IMPORTANT INSIGHT #2
• Grab attention by
using symbols to
show data
ISOTYPES
• People are poor at
using intuition. They
flee away from data
INTUITION

9. THE WHYS- RELEVANCE
1
• Managers can make mistakes
estimating customers, employees and
businesses.
2
• Good decision making requires good
data which requires good
understanding
3
• Managers may be unaware of their
own statistical blindness

10. THE HOWS- RELEVANCE
SMARTER
BUSINESSE
S
Better
Roadmap
Decisions
Leadership
development
Measuring
Diversity

11. RELEVANCE
• More and more businesses are becoming
internet and computer conscious.
Managers need to adapt.
• India is an IT hub with a rapid
technological expansion rate.
Management no longer is one-
dimensional.

12. COMMON MISTAKES MADE
• #1: Not using all the data available
• #2: Not letting the data represent itself
• #3: Not connecting people with the data
• #4: Not knowing which data to use
• #5: Not knowing how to interpret the
data and results

13. WHAT THE STATS SAY

15. CASE STUDIES IN ACTION

16. A FINAL WORD FROM THOSE
WHO MADE THROUGH
• I lean on statistics like a drunken man leans on
a lamppost, only for support, not illumination.
• Statistics is the grammar of science.
• There are three types of lies -- lies, damn lies,
and statistics.
• If at first you don't succeed, try two more
times so that your failure is statistically
significant.