Make Decisions Based on Estimates

My current job involves quantification activities, in particular to estimate the impact of process improvement changes. I have been browsing a book called How to Measure Anything by Douglas Hubbard that brings a whole toolset and methods to go about this.

The main idea in this video is that you can make decisions based on simple calculations rather than relying on human judgement alone. There are at least 3 tools to help with measurement: decomposition, confidence intervals, and Monte-Carlo simulation.

The lush greenery in the background is Gardens by the Bay in Singapore.