Avinash Kaushik runs a very popular blog about web analytics called Occam’s Razor.
He just posted a great piece on the misleading nature of KPIs. It’s well worth a read if you are into that stuff.
He makes some great points about how we interpret data.
In case you were wondering, Occam’s Razor is a term that means ‘given all the possible explanations, the simplest one is probably the best’. That gives you some insight into how Avinash thinks.