From the Inside Flap
Anything can be measured. This bold assertion is the key to solving many problems in business and life in general. The myth that certain things can’t be measured is a significant drain on our nation’s economy, public welfare, the environment, and even national security. In fact, the chances are good that some part of your life or your professional responsibilities is greatly harmed by a lack of measurement – by you, your firm, or even your government. Regardless of your role in business, understanding the power of measurement will make you, those around you, and your organization more efficient and productive.
Using simple concepts to illustrate the hands–on application of advanced statistical techniques, How to Measure Anything, Third Edition reveals the power of measurement in our understanding of business and the world at large. This insightful and engaging book shows you how to measure those things in your business that you may have previously considered immeasurable, including: customer satisfaction, organizational flexibility, technology ROI, and technology risk. Offering examples that will get you to attempt measurements―even when it seems impossible―this book provides you with the underlying knowledge and the necessary steps for measuring anything, especially uncertainty and risk. This revised third edition provides even deeper insights into the fascinating practice of measuring intangibles, with a special emphasis on risk management and customer satisfaction. New and updated chapters also include:
- A philosophical discussion of different approaches to probabilities, including what is known as the “Bayesian” vs. “frequentist” interpretations of probability
- Information compiled from other popular works and compelling articles from Douglas W. Hubbard
- Enlightening new examples of where seemingly impossible measurements were resolved with surprisingly simple methods
- More measurement myths and other perceived obstacles to measurement debunked
A complete and updated resource with real–world case studies and an easy–to–follow format, How to Measure Anything, Third Edition illustrates how author Douglas Hubbard―creator of Applied Information Economics―has successfully applied his approach across various industries. You’ll learn how any problem, no matter how difficult, ill–defined, or uncertain, can lend itself to measurement using proven methods. Straightforward and accessible, this is the resource you’ll turn to again and again to measure the seemingly immeasurable.
From the Back Cover
Praise for the second edition of How to Measure Anything: Finding the Value of “Intangibles” in Business
“How to Measure Anything was already my favorite book (just ahead of Hubbard’s second book, The Failure of Risk Management) and one I actively promote to my students and colleagues. But the Second Edition, improving on the already exquisite first edition, is an achievement of its own. As a physicist and economist, I applied these techniques in several fields for several years. For the first time, somebody wrote together all these concerns on one canvas that is at the same time accessible to a broad audience and applicable by specialists. This book is a must for students and experts in the field of analysis (in general) and decision–making.”
―Dr. JOHAN BRAET, University of Antwerp, Faculty of Applied Economics, Risk Management and Innovation
“Doug Hubbard’s book is a marvelous tutorial on how to define sound metrics to justify and manage complex programs. It is a must–read for anyone concerned about mitigating the risks involved with capital planning, investment decisions, and program management.”
―JIM FLYZIK, former Government CIO, White House Technology Advisor and CIO magazine Hall of Fame Inductee
Praise for the first edition―The bestselling Business Math book two years in a row!
“I love this book. Douglas Hubbard helps us create a path to know the answer to almost any question, in business, in science, or in life . . . How to Measure Anything provides just the tools most of us need to measure anything better, to gain that insight, to make progress, and to succeed.”
―PETER TIPPETT, PhD, MD, Chief Technology Officer, CyberTrust, and inventor of the first antivirus software
“Interestingly written and full of case studies and rich examples, Hubbard’s book is a valuable resource for those who routinely make decisions involving uncertainty. This book is readable and quite entertaining, and even those who consider themselves averse to statistics may find it highly approachable.”
“This book is remarkable in its range of measurement applications and its clarity of style. A must–read for every professional who has ever exclaimed, ‘Sure, that concept is important, but can we measure it?’”
―Dr. JACK STENNER, cofounder and CEO of MetaMetrics, Inc.
“Hubbard has made a career of finding ways to measure things that other folks thought were immeasurable. Quality? The value of telecommuting? The benefits of greater IT security? Public image? He says it can be done―and without breaking the bank . . . If you’d like to fare better in the project–approval wars, take a look at this book.”