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Just a quick update to recommend the book ‘The Cult of Statistical Significance’ by Ziliak and McCloskey. This is an important book. One key issue is about how we think of impact. Just because something is 95% significance with a weak effect on, say, spend it does not mean that we should ignore something with say 70% significance with a strong effect on the same spend, CSAT or whatever.
An interesting and better way to approach this is not to cut our models down to 95% significance but take a multiple of ‘significance x effect’ (thanks to Mark from Cranfield for this advice). I would recommend this book to blow away some of the continuing problems of quantitative understanding in the market research profession.
Steven Walden
Steven Walden is Head of Research at Customer Experience Consultancy, Beyond Philosophy. He has worked in Management Consultancy for the last 14 years including boutique and large strategy houses providing advice and guidance to a cross-industry range of businesses on market planning and consumer behaviour. Within his current role and working closely with leading business schools he has focused on designing measures of emotion and the sub-conscious using techniques from consumer psychology. He is also co-author of a new book coming out in Spring 2010 on Customer Experience Management.Recent Posts
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