What is the hidden risk in your company?

I was recently talking with a friend who was giving a workshop to boards of directors on the risk within their businesses. This topic made me think of all the companies that I had worked with over the years and what was the biggest risk they faced but was not realized it within the organization. Upon reflection of all of 2 minutes, I came to the conclusion that that it was Excel!
 

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Precision v. Accuracy: How about using a range?

Precision v. Accuracy: How about using a range?

The concept of precision verses accuracy was first brought home to me back in the depths of time while I doing Physics "A" Level in high school and calculating measurement errors in experiments. From this I learned that no matter how precise one's measurements were, there an inherent error in the tool which was used to measure the results. Taking into account that lack of precision provided more accurate results, which is what we sought.

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