What is Questimation?
We deliberately chose our name, Questimation, to represent what we believe about decision-making. Good decision-making is not something we just happen across or stumble over – it is a quest. A deliberate search for knowledge and insight, synthesised into an actionable plan and effectively communicated to those who need it to make those good decisions.
This good decision-making cannot be accomplished from raw information alone. Information needs to be processed into a usable form, then analysed to determine what it means. With this, we form estimations – judgements on the worth, character, or nature of the situations we face.
The “Qu” in Questimation stands for both quantitative and qualitative estimates. Quantitative estimates are those based on the numbers, assessing and forecasting profit and loss. Qualitative estimates are those dealing with the human or market side of analysis: quality, trust, judgement, behaviour, ethics, narratives, and other non-quantifiable ideas.
Software and algorithms have become brilliant at quantitative analysis, but as any business will tell you, the numbers don’t tell the whole story. Businesses that should be profitable aren’t. Forecasts are sometimes be wrong. Questimation’s real work starts where the software ends, bringing human-based and market-based qualitative analysis to your processes to help you confidently make better decisions.
We exist to help you on your quest for better decisions; to help you bring qualitative estimation to your quantitative research, so you can discover the right way forward for your organisation.