Disruptive analytics

We all think that making decisions is something we are fairly natural at, what kinda coffee to what kinda personality do I enjoy being around? However decision making is something least adapted to our own brain. Bernoulli gave us the expectation or sum over the likely hood of something happening multiplied by the value of that something . It is only by evaluating this expectation that we can make an informed decision. Not some thing that your brain can compute that easily on the fly, or at all for most mortals.

Many companies leverage this to gain competitive edge, some even simulate on grand scales this very equation to price and figure out the true value of something.

So what does all this mean? How can this help? Well for most this means nothing, for some who are engaged by data led decision making this simple insight coupled with larger and larger datasets can give just enough edge to perhaps make the difference?


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