Words of the Week – rule of thumb
Rule of Thumb (image: lucianvenutian)
A rule of thumb is a technique for estimating that is more of a general rule than a scientific measurement. For example, a Brand Manager training a new Associate might say, “A good rule of thumb in our category is that one share point is worth about $10 million in sales. So, to grow from 15% share to 16% would require us to increase sales by $10 million this year.”
This buzzword is said to have originated with carpenters who used their thumbs for general measurements rather than using proper rulers.