Showing posts with label type II error. Show all posts
Showing posts with label type II error. Show all posts

03 September 2014

To find smash-hits, ignore statistical significance !

It's not the end of the world if you're wrong !

The biggest mistake in market research is to worry about being wrong.

Ironically, research can learn this lesson from one if its great detractors, Steve Jobs. He who famously dismissed market research saying "People don’t know what they want until you show it to them".


He was right about customers' lack of self-insight, but wrong about the value of research.


Businesses want blockbusters, to crack the big time, go viral, be trending (upwards). They want and count hits as Steve Jobs knew and proved.