Metrics

In the world of scientific experiments there is no such thing as an exact measurement. Instead, the standard scientific approach is to deal in degrees of confidence. Things we have greater confidence in are things that we can state to a higher degree of precision, but no matter how well we measure something it will never get to the point where it can be stated as an absolute number. Scientists represent this level of precision with what is known as “confidence intervals”, a standard that has been adopted in all industries and domains across the globe.

Today it seems second nature to consult an independent standard before making an important choice. We regularly appeal to consumer ratings before choosing a hotel, movie critics before a trip to the cinema or an independent surveyor before purchasing a house. But it wasn’t always so. In fact, just a couple of decades ago independent reviews of quality were hard to come by. In many cases, the only source of information would be the suppliers you were trying to choose between, who conducted their own studies and tests that were subject, of course, to a glaring conflict of interest.