Entrepreneurship on Line

Aiming for skilled entrepreneurs.

Saturday, June 19, 2010

Triangulation

Triangulations means something specific in math but in business means synthesizing information from different sources. Collecting information on the same topic from different sources allows you to get a more valid measure of whatever you're measuring.

For example, if you want to measure audience attendance at a give event. You can get published data from an organization that counts attendees at different concerts. And you have estimates from people who were there and made crowd estimates.

Let's say the published data puts attendance at 335,000. Crowd estimates that were there put attendance at 322,000. They're not very far off. As long as they came from different sources, placing your estimate at 330 is sounder than either one of the sources alone.

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