Every week we collect articles from around the web related to probability and estimating in a business context.
Hope everyone had a great week, here's what's been going on in our world!
What We Wrote
- How Correlation Increases Uncertainty - We released Correlated Outcomes and have started digging into its impacts and what you need to know to get the most from your simulations.
- The DartCannon Technology Stack - We pulled the curtain back on the tools and technology components we used to build DartCannon.
What We've Been Reading
- Unmyths of Estimating (G. Alleman on his blog Herding Cats) DartCannon is about estimating. It is good to regularly remind ourselves of why we estimate and the value which comes from the process.
- How Mathematicians Used A Pump-Action Shotgun to Estimate Pi (From the The Physics arXiv Blog) Want a fun example of Monte Carlo in action? Check out this example of calculating PI with a shotgun. Also, it got published as a scientific article!
An end-of-week quote:
So what we need is not Accurate estimates, we need Useful estimates. The usefulness of the estimate is the degree to which it helps make optimal business decisions. (Unmythology and the Science of Estimation, Corvus International, Inc., Chicago Software Process Improvement Network, C-Spin, October 23, 2013)
Photo by Kevin Schmid on Unsplash