As year end approaches, we will be bombarded by stories which attempt to sum up the year that is about to pass. There will also be many stories that purport to predict what will happen next year.
Most of these stories will be packed with statistics - many incomplete, others simply misleading and some that are almost impossible to interpret. Since few of the authors, and even fewer of the readers, have ever studied Statistics, we are well advised to be cautious in our interpretation and use of the information provided.
Aaron Levenstein summed up the situation particularly well with this thought: "statistics are like bikinis. What they reveal is suggestive, but what they conceal is vital."
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About the Author
- Hugh Elliot
- Mr. Elliot is a founding partner of Collingwood Partners, LLC. He has been an independent management, mergers and acquisitions, finance, and business consultant since 1979. His clients have included government contractors, manufacturing, service, research and development, financial, professional, and banks. He specializes in assisting small and rapidly growing companies with strategic planning, financial management and the management of growth both organically and by acquisition. Mr. Elliot was born and educated in the United Kingdom. He immigrated to the United States in 1968 becoming a naturalized citizen in 1991. He graduated from the University of Cambridge (England) with a BA (Hons) in Agricultural Science and an MA in Agricultural Economics. In addition to his other responsibilities, Mr. Elliot serves as an International Judge for the sport of sailboat racing.
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