Read business figures through definitions, denominators, periods, percentage changes, means and medians, and comparable measurements with visible sources.
Data literacy means understanding what figures represent and how they were produced before using them in decisions.
Different denominators or periods change the meaning of a number. Read sources and calculations to assess whether comparisons support the decision.
Illustrative calculation: 20 applicants among 100 people means 20%. With 30 among the same 100, the rate is 30%: a 10 percentage-point difference and a 50% relative increase.
People and submission counts are different units. Multiple submissions by one person should not be counted as separate people.
NIST defines the mean as the sum divided by count and the median through the centre of ordered values, explaining extreme-value effects. (NIST: Measures of Location)
Illustrative orders of 10, 10, 10, 10, and 60 have a mean of 20 and median of 10. Review values and count alongside a typical-order claim.
Review locations, periods, populations, and methods. Different groups’ results do not establish the same people’s improvement.
Label chart units and ranges and publish sources and calculations. Explain incompatible premises and avoid attributing changes to one cause.
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A: It is 10 percentage points and a 50% relative increase.
A: Review the median, distribution, count, and extreme values too.
A: They are different units when one person can submit repeatedly.
A: Definitions, denominators, periods, units, sources, and calculations.
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