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Insights on money, career and trading

By the Numbers: Measurement and Money

Posted on February 22, 2018 by Daniel at 10:19 pm

There are lots of different ways to frame the ideas of making and losing money. But one of the more interesting perspectives that you can consider is money as associated with specific measurements. Though you can view financial gain or loss as a measurement in itself, there are other ways to judge the concrete factors involved prior to that state.

For instance, consider the ideas of flow measurement, fine carpentry, trends in web traffic, and statistics that companies publish to improve sales. These are all instances where measurements themselves lead to the potential for more or less money.

Flow Measurement

For an idea of how flow measurement might affect finances, consider companies that sell flow measurement units. The engineering behind these units exists so that something can be counted. Speed, temperature, density, volume moving from one place to another – these are all vital components in fluid transfer. And a company that sells equipment that measures these numbers is essentially selling a way to determine the quantity or quality of a liquid service that a different company is providing. It might take your brain a minute to wrap around that concept, but the idea is that the flow measurement is essential to any service where ‘flow’ is being sold.

Fine Carpentry

Another good example of where measurement and money intersect is within the industry of fine carpentry. A fine carpenter operates within an extremely small margin of error. Even 1/32 of an inch can mean the difference between something fitting and not fitting. What you’re paying for when you hire a fine carpenter is someone who knows how to measure objects in the real world and bring them into creation. If you ever see a beautiful work of carpentry, then you know that fittings are just about as precise as any person would be able to observe.

Trends in Web Traffic

Then there is advertising money, particularly when it comes to web traffic. The more numbers you have measured, the more money you get. And, advertisers are going to look at your numbers concerning web traffic during their decision whether to advertise on your website or not. So it’s a mutually beneficial transactional analysis entirely based on measurement and observation.

Statistics To Improve Sales

And then finally, you can use measured numbers to improve your sales tactics. Think for a minute about how car dealerships utilize numbers to try and sell vehicles. What is the horsepower of an engine? What kind of gas mileage does the car get? Typically, how is the resale value going to be affected over time? All of these questions and all of these numbers relate directly to a way for them to make more money off of the sale, or at least make you more likely to purchase the vehicle itself.

Insights on money, career and trading