“Why do I need to learn this?”. It’s one of those perennial questions that every schoolchild asks at some point or another, and one of the hardest to answer.
In an increasingly digital world, when we all carry high-powered computers around in our pockets, it’s natural for children to be skeptical about the value of learning basic mathematical formulas and principles. Why should you bother learning multiplication tables when you’ll spend your working life with a calculator app on hand?
But the truth is that no matter what line of work you go into, you’re going to need basic numeracy skills in your day-to-day life, and for children thinking about a business career, basic mathematical building blocks will quickly become essential. Here’s why:
Data Analysis is the Bedrock of Business Success
Whether you own a café, a roofing company, or work for a large multinational corporation, you need to be able to analyze data. When read correctly, data tells a story, and those able to read that story have an advantage over their competitors.
For example, a business owner who wants to understand why their company is losing money will need to be able to crack open the books and chart variables like:
- Materials expenses
- Labor costs
The root of the problem is contained in these numbers, and solving the problem will be impossible without reasonably advanced math skills.
While this makes a kind of intuitive sense, high schoolers struggle to understand why they need to take math courses if their plan is to start a graphic design business is because it is often not explained to them using examples that seem inapplicable to their own context.
One of the benefits of hiring a math tutor in Westchester NY is that they can explain how these abstract concepts relate to the nuts and bolts of doing business in a highly competitive city like the Big Apple.
Numbers Don’t Lie
Success in business often comes down to being able to discern the difference between a good risk and a bad one, and risk is always a matter of probabilities. To calculate odds, probe underlying assumptions, and identify weak points in a predictive matrix, business people need to have a strong grasp of mathematical principles.
Americans love stories about entrepreneurs who were able to see an opportunity where others couldn’t, but this usually doesn’t just arrive as a flash of inspiration: it relies on one’s ability to crunch the numbers, to see patterns others can’t. The difference between a once-in-a-lifetime deal and one that is too good to be true is often laid out in black and white — so long as you can read the data.
Business people today don’t necessarily need to use long division to figure out problems in day-to-day operations. But understanding the fundamentals still provides an essential underpinning for the analytic skills that are needed to grow a company.
If students are passionate about business but struggle with math, hiring a math tutor can be a great way to help them connect theoretical knowledge to everyday challenges.