The need for better skills to turn data into information during investigations is not new. Unfortunately, our education system has not kept up with developments in computers and management information systems . The ever-increasing tide of data has outstripped the ability of Investigators to make use of the data. The problem of general data analysis is no longer a small one that can be ignored. Statistics about every facet of business and our daily lives surround us. Yet when confronted by statistics, most Private Investigators don’t know how to evaluate the statistics, the data upon which they are based, or the collection method.
If you are in the position of having to evaluate statistics and don’t have much experience with this area, then these two excellent short books that cover most of what you need to know:
and
Both of these appear on our Books Page.
I recently recognized some financial projections, based upon data originating in several countries, could not possibly be correct. Unfortunately I was right, the data had been entered into a spreadsheet wrongly due to a misunderstanding of how the number elements were formatted.
The following information allowed me to correct this. It was a tedious job to reformat the number elements. I was volunteered for the task because I was first to identify the problem. No good deed goes unpunished. Here’s what I learned: Continue reading ‘Number Elements’
The nomenclature of big numbers varies depending on who writes them.
In the USA, a billion is 109 (a 1 followed by 9 zeroes) and a trillion is 1012. This seems straight-forward until you realize that Americans spell differently than the British and other Commonwealth countries. Some further thought might be in order.
In the UK and Germany, a billion is 1012 and a trillion is 1018. Now this makes more sense to me.
Bi means twice or 1 million squared for a billion, or 1012, as 1 million is 106. Tri is three times, or 1018, or 1 million cubed. The same follows for quadrillion being 1 million to the 4th power, or 1024, rather than the American 1015.
This confusion means having to get clarification on all large numbers unless all the zeroes are present, or they come from a recent article written by a bona fide Economist or Statistician who will use the American interpretation of these large numbers.
Now I’m sure you’ll never be confused by this again!