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Critique of Indicator Use
The article addresses the sin of overly relying on digital indicators to understand reality, especially in the real estate market, where differences between digital data and actual experience become apparent. It points out that while indicators may present an accurate picture in terms of numbers, they often overlook the unmeasurable details that significantly impact true value—such as the quality of finishing, the level of maintenance, or the psychological satisfaction of the tenant. The article highlights that the problem of dependence on numbers becomes especially evident when measuring property prices, as values can fluctuate considerably based on intangible characteristics. This makes decisions based solely on data less effective. It also notes that pricing models, like hedonic pricing, attempt to address this issue by adjusting for property features, but unobservable differences remain a challenge. Furthermore, this dilemma extends to broader fields in economics and management, where some aspects of value remain difficult to measure precisely, potentially leading to ineffective decisions despite the validity of the data and figures.
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