If you take this in school, strap in and get ready for a ride of a sort. Depending on how it is taught, it will take you out starting with your own thinking and soon after that confusion and doubt not to mention a strong desire to never visit this subject again. Why is that? Because how to use it correctly and simply escapes many.
IT IS A YARDSTICK...a measurement
Knowledge of anything is really a tool to be used to accomplish a task or move something forward. I like having what they call WORKING knowledge which is a type of learning that works without too much effort. That is what I am submitting here. We are randomly polling through observation. This is a personal statistic approach
NUMBERS SHOW THEMSELVES
Suppose you get a phone call on a listing one day from someone who says the color of your house will keep it from selling for top dollar. I now note that conversation as a statistic that is a person who spoke up in regard to a situation. That means in a community of tens of thousands of people, at least one spoke negatively about the house color. 1 in 10,000
A PICTURE FORMS
I will assign it a 1 out of 10,000 random position. Now, another person calls and says your curb appeal is lacking. Again, I assign it it similar position and now I am getting an idea at large what people are saying about the FOR-SALE activity here. Mind you none of them have to be correct or accurate. These are just random statements or statistics forming
WHERE THERE IS ONE...THERE IS MORE THAN ONE
The rule is that the ONE person calling in represents 1 in 10,000, then in a community of 50,000 one can calculate there are at least 5 more people that may feel this way too. It is an awareness tool to monitor your own business activity and become more tuned to your area or type of result
YOU GET AN BROAD IDEA AT LARGE
However, if the same report keeps coming up by different people, then you now have workable stats telling you that some adjustment or attention should be made accordingly and how people think or view this in this area. Keep in mind the same applies to any comments made including positive ones too.
PERSONAL OBSERVATION
Each person who speaks up represents a segment of society or buyers who feel that way. If is safe to calculate that if they do, then more than one will feel that way too. If one dabbles in this without making it to scientific or weighty with analysis, one can get a good feel based on their own experience of what is taking place around them
IT'S RANDOM SAMPLING TURNED INTO AN OPINION
Without feedback or input so that an item can be monitored statistics would suffer and fail to serve us. Asking for it or staying on the front lines and being hands on helps one come into it naturally. Now someone else may have their own stats going, but it should not be too far off from others for the same area or same experience
VISITS VERSUS CLICKS ON YOUR POST
Numbers are just a way of explaining, monitoring and capturing a situation and looking at it as objectively as possible to achieve a reasonable or optimum result or make a statement regarding same. For a further demo of "loose" stats, look at how many people visit your post versus click on it and it becomes your personal stats as well.
TWEAKING OR MONTORING OPERATIONS
Out of the ones who visited, what drove them there? Out of the ones who clicked, why did they? In Google analytics, they offer data that shows what page of your web site attracted a visitor and for how long. They also show on what page the visitor exited on as well. These are your stats to be used by you to do with as you see fit
Simple Math applications help bring clarity and perspective. I leave the E=MC2 for someone else
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