San Francisco -
“Data is indisputable.” Turkey’s new Central Bank Governor Hafize Gaye Erkan, the fifth bank leader the dictator Erdogan has appointed since 2019, once claimed this in a First Republic Bank biography of her. She left as First Republic’s Co-CEO just before the institution failed.
Data are rarely indisputable, at least outside aspects of the so-called hard sciences. As long as human beings are involved in their collection, interpretation, and presentation, there are many times when data can and should be disputed. Yes, I do make this point several times a year because it's an important one.
Data analytics are an essential component of the winemaking business, for example, both north and south of here as they are and should be in most businesses and professions. Still, data are just tools that leaders and organizations use to make decisions. They are means to an end, not ends unto themselves. The tools are much sharper when leaders know how and when to question the sources and uses of their data. Yes, data may be indispensable. That doesn't mean they are infallible.
One hopes the brilliant, multilingual Erkan understands that human judgment must always top servitude to data and the supposed indisputability of quantitative information. The greater hope, however, is that she is able to make a meaningful mark in her new role. It’s doubtful that the impetuous, imperial Erdogan will let her. That you can count on.
Image courtesy of Simplilearn.