The Dow Jones Industrial Average is currently at 35,999.15 points.
What’s the point of broadcasting the index to the hundredth decimal point?
The Dow went down −97.26 points from yesterday’s close.
That’s about a quarter of one percent. That number is practically meaningless. Nevertheless, people will analyze and talk about it to get more hits in today’s news cycle.
Understanding the difference between how precise a metric is and how meaningful it is is crucial.
What meaningful numbers are you measuring?
Thanks for caring!