Understading data interpretation is the key to better accuracy?

Statistics is an interesting tool. When anyone shows you stats with charts the first question you should have is..........What are the methodologies (metrics) behind the stats and graph being presented? Beware of people who do not create ranges and make a single inference off of a single set of data. What do we mean by that? We mean that when a researcher has created the metrics for a stat those metrics should be adjusted up and down to create a range. One great alternative resource that does this is John Williams over at Shadowstats. We believe that by creating ranges you can create a more accurate forecast. This is similar to the range forecasts that are used to predict where a hurricane will strike. Here are some great ranges estimated by Shadowstats of inflation, money supply, unemployment, GDP, and more:

http://www.shadowstats.com/alternate_data

Tell us what you think...............