If you work with tech, there’s a good chance you’ve come across some of the following statistical tools:
- Standard deviations
- Least-squares line of best fit
These are the most common tools in a kit that’s typically taught in undergraduate statistics classes and widely used in the outside world. However, this toolkit just isn’t that effective in most IT applications (such as analysing performance benchmarks). Fortunately, there are other tools that do work well. They’re normally taught in “advanced” statistics classes, but I think some of them should become the standard toolkit for tech work (and possibly elsewhere).
In this post I want to talk a bit about why the usual toolkit doesn’t work well. First, let me give an example.