Falling response rates and misuse of numbers contribute to the problem
- Data quality is declining, especially in surveys
- Falling response rates contribute to fuzzier survey results
- The practice of cold calling households for surveys is being abandoned
- Objective measurement of important factors like job market, inflation, and health is becoming more difficult
- The numbers themselves are getting worse and are often misused
Surveys have long been a reliable source of data for understanding various aspects of our society. However, recent trends indicate a decline in data quality, particularly in surveys. Falling response rates have made it increasingly difficult to obtain accurate and representative information. The traditional practice of cold calling households for surveys is being abandoned as people are no longer answering their phones. This shift in behavior has led to fuzzier survey results and a lack of objective measurement for important factors such as the job market, inflation, and health. Unfortunately, the numbers themselves are also getting worse, and we often misuse them. As a result, it is becoming more challenging to rely on data to determine if things are getting better or worse. This concerning trend calls for a closer examination of how we collect and interpret data, as well as a reevaluation of our reliance on surveys as a primary source of information.
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Factuality Level: 4
Justification: The article contains some relevant information about the decline in the practice of conducting surveys by cold calling households. However, it also includes digressions and unnecessary background information that are tangential to the main topic. The article lacks specific examples or evidence to support the claim that the numbers themselves are getting worse and that we aren’t using them well. Overall, the article is somewhat misleading and lacks in-depth research.
Noise Level: 3
Justification: The article starts off with a relevant topic about the decline of conducting surveys through cold calling. However, it quickly veers off into a personal anecdote about the author’s experience writing the column. The article lacks evidence, data, or examples to support its claims and does not provide actionable insights or solutions. Overall, the article contains some relevant information but lacks focus and depth.
Financial Relevance: No
Financial Markets Impacted: No
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article does not pertain to financial topics and does not describe any extreme events.
www.wsj.com 
