{"id":208479,"date":"2023-07-12T13:36:57","date_gmt":"2023-07-12T20:36:57","guid":{"rendered":"https:\/\/firmsconsulting.com\/?p=208479"},"modified":"2024-06-26T07:41:12","modified_gmt":"2024-06-26T14:41:12","slug":"hypothesis-testing-process-helps-frame-the-study","status":"publish","type":"post","link":"https:\/\/firmsconsulting.com\/hypothesis-testing-process-helps-frame-the-study\/","title":{"rendered":"How the hypothesis testing process helps frame the study"},"content":{"rendered":"\n\n\n
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This is probably one of the most beautiful slides we have because of how it captures the entire process. You may have heard the phrase, \u201cHypothesis help frame the study.\u201d In other words, hypothesis testing process sets the pace for the study.<\/p>\n

For many people, they don’t\u00a0really know what that means.<\/p>\n

In fact, I will have to say that 80% of people who use the word hypothesis and use hypotheses in their work don’t use it correctly and don’t even understand how it fits into the overall study structure, how hypotheses guide the process.<\/p>\n

I’m even referring to management consultants working for major firms who are not that familiar with the process. Or even those who are familiar with the process but are not good at it. Not everyone at BCG, McKinsey, Deloitte, PwC, et al. is skilled at this process. A lot of people are going to be managed out and don’t fully understand the process.<\/p>\n

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How the hypothesis testing process sets the pace for the study<\/h2>\n

We\u2019ve been hammering home an approach to doing consulting studies, including strategy studies, in various programs on StrategyTraining.com, and this is another way of explaining the approach. It’s important to understand this process.<\/p>\n

So this is the way it works.<\/p>\n

You first need to decide what you think is going on.<\/p>\n

Remember how we teach you to do this?<\/p>\n

You figure out the objective function, build decision trees, prioritize some branches that you think are most important, and then you build the hypotheses.<\/p>\n

From the hypotheses, we then need to do two things:<\/p>\n