Monday, April 25, 2011

Type of Bias to keep in mind when discussing data

In all the conference rooms at NASA Marshall Space Flight Center (MSFC) they have a poster listing common types of Bias:

Wishful thinking

- “hope is not a management tool”

Group think
- “I hate conflict”

Status Quo Bias
- Ever heard “we’ve not had a problem before”

Overconfidence Bias
- “We’ve always been successful in the past”

Currency Bias
- “We remember recent events and forget history”

Confirming Evidence Bias
- “I’ve read smoking doesn’t cause cancer”

Anchoring Bias
- The first information we receive gets more weight

Sunk Cost Bias
- “But look at the money we’ve already spent”

Just something to keep in mind.


GTS said...

You can't manage what you don't measure.

rocketsciencesense said...

GTS, check out "How to measure anything" by Douglas Hubbard. Look for a review here, coming soon.

Nilofer, done- nice blogs, although I am a single white with no kids I do have two nephews and a niece that I love dearly. I will keep up with your blog. Thanks!