Tag: Statistics

  • The “Hard Dollar Delusion”: losing touch with the reality of “soft” dollars

    Primarily because they are easier to measure, some consider “hard dollars” more “real” and therefore more likely to drive their business decisions than “soft dollars,” even when soft dollars have a greater impact on the business. As a result, business and clinical outcomes can be adversely affected.

  • Avoiding False Alerts: Snoozing ≠ Laziness

    A simple approach can dramatically reduce false positives and annoying, redundant true negatives. Unfortunately, classic count-based metrics usually lead to the false conclusion that the approach wasn’t helpful! Our simple, novel approach solves that problem, enabling implementations with dramatically fewer false and useless alarms.

  • Shocking new discovery: Recall and Sensitivity are not the same!

    Classic statistics like sensitivity and specificity make assumptions that are usually false. That leads to serious problems. Our simple, novel approach provides the solution. Imagine this: My personal library contains 100 books, 50 with red bindings and 50 with blue bindings. I hide coins inside 20 of the books. 10 of the red books each…