Statistics aren't the only thing to go byUtilizing statistics is good to a certain extent. In Baseball, connecting on 40% of your at bats would keep the sports reporters praising your accomplishments as a ball player. In medicine, e 40% of patients surviving a Doctor's care would be catastrophic and would probably bring reporters for another reason.
What's my point? Just the idea to utilize statistics in business as one factor in how your doing but not the only factor. Positive growth in a down economy or a loss during a particular month in your business cycle may require a big picture view of what's happening.
Statistics are merely a guide to help you make calculated decisions. Use them as one tool in order to interpret better what is happening to your business and make better decisions. You still need to pay attention to trends, identify new markets, and stick to some business basics to remain in business for the long haul.
I am a CPA in San Antonio and serve individuals and small business in San Antonio and surrounding areas.
Richard J. Garcia | 05/08/2010