Here's a really nice explanation by Jonathan Gray's Data Blog on the Guardian, spelling out five cautions for use of data in decision-making.
http://www.guardian.co.uk/news/datablog/2012/may/31/data-journalism-focused-critical
And here's an example of why data is bullshit. You can't measure this program with an end of year test. In fact, there are lots of things you can't measure that way.
http://www.slate.com/articles/technology/future_tense/2012/06/maker_faire_and_science_education_american_kids_should_be_building_rockets_and_robots_not_taking_standardized_tests_.html
And when you ignore data showing that what you do doesn't work, here's what can happen. http://www.startribune.com/local/156812385.html
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