Dec 9, 2008

Paralysis by Analysis

Have you heard of it? Getting all hooked up by the numbers and equations and graphs, it is very probable of getting overwhelmed by them and losing the motive of making any decision or conclusion.

Acting or Making a decision or Coming to a Conclusion is the motive of analysis. You start by following methods:

1. Collect Data
2. Process Data
3. Analyse Data
4. Use the analysis to make a decision.

What would happen if you get lost in the step 3 and cannot come to step 4? There can be many reasons, few are:

1. Lost track of reason
2. Not satisfied with the analysis
3. Stuck in confusion
4. Lazy to decide
5. Overwhelmed by the possibilities of new analysis method.

Yes, the last one is one of the reason that I was pointing at. You get so excited about the range of types of data and the possibilities of new statistical tools, that you forget that you need to decide. This means getting paralysed by the process of analysis.

Next time you analyse make sure to remember that you have to decide and act too.

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