How to Measure Anything Workbook: Finding the Value of Intangibles in Business

I bought the the 2nd Ed in 2010 and upgraded to this, the 3rd Ed, in 2014.The author's main thesis is that we can measure anything. So, to quantify the value of the "new" information this new product provides, we need to, as the author recommends, to measure this "intangibles" called "information" using his Applied Information Economics (AIE) approach. We need to ask, what is the value of this new information?Here's my data and analysis, which is an example of how to use the "information" book. (PS. I am doing this review in this format just for personal entertainment, but I sincerely hope it will inform your purchasing decision ... or reduce any buyer's remorse you may have experienced.)1. Price. I paid $32.97 in 2010 for the 2nd Ed and $34.12 in 2014 for this Ed (both through amazon.com). The price increased $1.15 (3.4%) over 4 years. That rate is below the annual inflation rate for the same period. So, we can estimate that the physical product -- alone- has increased in relative value.2. Page count (I use this as a proxy for estimating "new" information). A comparison of the TOCs shows that the new Ed covers all the same topics and same chapters, and has the same sequencing. So, the risk of losing some of the information value in the prior Ed is very low. However, there are 98 new pages. This is an estimated 25% increase in "new" information.3. What is and where is this "new information" in those 98 new pages? Using the number of footnotes as a proxy for estimating "new" sources of information, I counted a 48% increase in the number of footnotes and sources. The major topics (by chapter) containing new information were:Chapter 3, The Illusion of Intangibles (from 8 to 21). Most of these referenced noted behavioral economists, including several Nobel laureates, on the topic of how to being aware of and how to reduce the influence of biases in any measurement process.Chapter 4, Calibrated Estimates (from 10 to 21). Many here were references to noted behavioral economists like Sara Lichtenstein and Philip Tetlock. Calibrated Estimation is a key tool in the authors Applied Information Economics (AIE) methodology.Chapter 6, Quantifying Risk through Modeling (from 7 to 10). Taleb of "Black Swan" fame was the key new source here.Chapter 10, Bayes: Adding to What you Know (from 2 to 5). Bayesian statistics is a key approach int he AIE process. If you are not familiar with Bayesian statistics, the 35 pages in this chapter will return to you a very high multiple of the baseline cost of $34 you will pay for the whole book.These four topics cover very important steps (and tools) in the AIE process. The value added is added in the most important areas, which increases the overall value of the book itself as a source of new information.The author also introduces 5 "Purely Philosophical Interludes" to strengthen the key principles supporting the AIE approach.So what's the downside risk for you?This book is not for everyone.It is nerdy, but it is not deep. It makes all the "math" -- especially the statistical concepts discussed -- very understandable. This too adds value (recaptures?) the value you thought you received from that C in college statistics you never use.If all you remember from that class was to ask questions like "Is that sample statistically valid?" and "What is your confidence interval?" whenever you need to sound like you know what your talking about when confronted with any statistical analysis, there is a high probability you will learn something from this book (and actually understand what you are asking in those questions).The most important "new" information in this Ed is in the increased knowledge you will acquire of of the Bayesian approach to measuring the "change" in what you know AFTER you get new data compared to what you knew BEFORE in any decision making process.You are the judge of "value." (PS There is also a wonderful Chapter on how to increase the value of the judging process.)

This was a required text for a class for my Masters of Science in Organizational Leadership. I was terrified-I thought this was a statistics course. I had nothing to fear. This guy is a genius. The formulas he has developed to measure things that you would assume are impossible to measure are amazing. You don't need to know math-the equations are in the excel spreadsheets you download! Think of something you don't think you could measure. You can measure it, and this book shows you how. Very interesting and understandable, even for a math dummy like me.

I look at measuring completely different after reading this book.I manage in a production facility and we make decisions all the time based on intuition. By eliminating some amount of uncertainty I believe we have been able to make better decisions. It was also very helpful come performance review time.There is so much in this book. I couldn't fit it all in a little review.

The book wasn't earth-shattering or profound, but I found value in how I was reminded of many things that must be measured in order to improve operations, outputs and how to report on them. Nicely organized, practical and succinct. Great tool for the reference shelf if you are a consultant engaged on many projects and need to deliver and hit your KPIs for deliverable.

When you get "How to Measure Anything: Finding the Value of Intangibles in Business", don't forget to add the accompanying workbook to your order. Doug Hubbard's concepts and methods are drilled throughout the workbook in a way that clarifies the process. If you are looking to gain a higher level of expertise in this subject matter, the workbook and its use will pave the way.

If you work with Team And need them involve in identify and evaluate risk, this a key book to help you "to calibrate" them and reduce overconfidence during the Risk evaluation process. The author did a fantastic job by developing exercises that expose over confidence and promotes team work

Marvelous update on a great work book. I bought this for a relative who is interested in knowing more about how to measure almost anything. This is a very good book and very well written. The exercises are simply grand.

This workbook is terribly disappointing. It is more of a quiz bank geared to making sure students have done the reading. Example: “True or false: Frank Knight was the first person to define risk and uncertainty”. Based on Amazon description, I expected it to have tools to help professionals put Hubbard’s ideas in practice. This purchase was a waste of money :-(

Book is fully loaded with lot of measures and KPI's. Why the need of measure everything in life? how to do it? great companion certainly gives you an idea on how to construct KPI around anything (unmeasurable) to measure it?Lot of new perspectives..

This is the measurement bible. I've bought three copies so far, two to give away.

Yes

Very intriguing book.

As described and arrived quickly