In finance specifically, there can be terminology confusion for non-experts (customers/clients not experts in the finance industry). As business experts, there is an ethical responsibility to ensure clear communication when discussing statistics. Here are a few examples of a recent business statistics sighting. You can pick just one to evaluate.
- Check their data (is the % or amount claimed correct based on the company and local market values provided in the graphics) – confirm or correct.
- Define and clarify the difference of “percent” and “percentage points”.
- Is their calculated and presented data misleading? Is it legal? Is it ethical?
- From a marketing perspective, is the data analysis presented persuasive?