In Friday’s edition of This Week in CFD I linked to an article that discussed a report from Reportstack entitled Global Computational Fluid Dynamics (CFD) Market 2014-2018 in which the market is forecast to grow at 12.85%. I wrote that I thought that number was contrived.
Upon reflection, that comment is unwarranted and I apologize for impuning the integrity of Reportstack. I have no reason not to believe their forecast. Please note that I’m doing this proactively – no one from Reportstack or anywhere else called me out. I identified my own mistake.
What I should’ve written was that quoting growth rates in a market forecast to two decimal places makes me think the authors don’t understand the concept of significant digits and are trying too hard to make their forecast appear rigorously analytic and believable. What’s wrong with just saying 12%?