Statistics, Analytics, Dis-information, Retail and Support

The last 24 hours has seen a flurry of retailers publish their most recent results and it makes for interesting reading.  If we are to believe the Guardian ( http://www.theguardian.com/business/2014/jan/09/high-street-gloom-retailers-profits-poor-christmas-sales ) then we should expect a slip back into recession; if we take a more measured approach, as provided by the BBC's Robert Peston, then the recent figures illustrate more confidence in the economy but a growing trend for consumers to be more discerning both over product but also over price but also a much greater use of the internet for shopping.  The greater move towards on-line retailing will have significant ramifications for the supply chain.

An example of the use of analytics and the spinning of these figures to suit an argument was brought home to me recently when I was enjoying a televised football game over the holiday period.  The game seemed fairly even overall but the commentators claim of one times dominance was supported by an on screen visual stating the startling percentage figures.  What! those figures cannot be a true representation of the game? No they weren't, but were apparently a fair representation of the last 5 minutes of play!

What is the point being made? The use of analytics is important and indeed essential for making well timed and informed decisions; however, the full picture needs to be viewed when making the decision.