I recently finished reading Thinking in Bets by Annie Duke, a psychologist turned poker champion turned business consultant. In the book, she describes the various lessons gleaned from playing professional poker and demonstrates their utility in domains ranging from business strategy to investment management. She goes into great depth exploring the mental models one must use avoid the cognitive biases which often hinder our ability to make decisions under uncertainty.
Likert scales are ubiquitous in survey design. Anyone who has ever taken a survey has likely been asked to “strongly disagree”, “disagree”, “neither”, “agree” or “strongly agree” in response to a prompted statement.
While modern survey tools like Typeform make it ridiculously simple to create beautiful responsive surveys and analysis reports without much consideration for the nuances of statistical analysis, extracting meaningful statistics from surveys can be tricky and requires careful design considerations.
Likert scale questionnaires come with a particular set of statistical hazards which are not well known but if not properly managed can lead to spurious conclusions.
We solve complex business problems with mathematics.