The famous quote has been attributed to W. Edwards Deming, the father of modern quality management. Deming was heavily involved in the economic reconstruction of post World War 2 Japan that saw the country become the world economic powerhouse of the 1960s, 70s and 80s.
Deming had the fundamental philosophy that data measurement and analysis were essential to attaining superior performance in every facet of business.
This fundamental principle still holds strong today for any business presence. A significant number of businesses have very little idea on how their business is performing; and more importantly identifying ways to improve it.
This quote by W. Edwards Deming, very concisely explains to us the importance of understanding and interpreting the large volume of data that gets created almost every day by the world.
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