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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Triangulation

Entrepreneurs need to know about triangulation because they often need to estimate market size for their improved mousetrap when there are no hard and fast estimates on which they can hang their hats. Triangulation allows you to pull data from a variety of sources to come at a range within which will probably fall the desired estimate.

In trigonometry and geometry, as noted in Wikipedia, the free, on-line encyclopedia,

Triangulation is the process of determining the location of a point by measuring angles to it from known points at either end of a fixed baseline, rather than measuring distances to the point directly. The point can then be fixed as the third point of a triangle with one known side and two known angles.

In health policy, according to www.igh.org/triangulation,

Triangulation is an approach to data analysis that synthesizes data from multiple sources. Triangulation seeks to quickly examine existing data to strengthen interpretations and improve policy and programs based on the available evidence. By examining information collected by different methods, by different groups and in different populations, findings can be corroborated across data sets, reducing the impact of potential biases that can exist in a single study.

Triangulation combines information from quantitative and qualitative studies, incorporates prevention and care program data, and makes use of expert judgment. Triangulation can answer questions on risk groups, program effectiveness, policy and budget planning, and the state of the epidemic in a changing environment. Triangulation methodology provides a powerful tool when a rapid response is needed, or when good data do not exist to answer a specific question. Triangulation can be used when the collection of new data is not feasible or cost-effective.

Triangulation can be very useful in coming to educated guesses about something. Even if you think you know the size of a given variable you're interested in, triangulation can either increase the chances that you are correct or look at the question before you jump to fast.

Do you know about triangulation? What are your ideas? I'd like to know. Read the articles cited and their references. Post a comment.

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