Data may be the new oil, but that doesn’t make its collection inherently valuable. Organizations would do well to remain mindful of Goodhart’s Law to avoid letting a data-driven mindset warp their larger goals.
The longstanding methods by which researchers establish statistical significance are based on a fallacy. To produce more meaningful results from data, it’s time we revise them.
Too often, sloppy research methods return results that are mathematically supported but in no way reflect reality. To fix this problem, incorporate context in the form of prior assumptions.
