Douglas W. Hubbard Quote
Myth: When you have a lot of uncertainty, you need a lot of data to tell you something useful. Fact: If you have a lot of uncertainty now, you don’t need much data to reduce uncertainty significantly. When you have a lot of certainty already, then you need a lot of data to reduce uncertainty significantly. In other words—if you know almost nothing, almost anything will tell you something.
Douglas W. Hubbard
Myth: When you have a lot of uncertainty, you need a lot of data to tell you something useful. Fact: If you have a lot of uncertainty now, you don’t need much data to reduce uncertainty significantly. When you have a lot of certainty already, then you need a lot of data to reduce uncertainty significantly. In other words—if you know almost nothing, almost anything will tell you something.
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About Douglas W. Hubbard
Douglas Hubbard is a management consultant, speaker, and author in decision sciences and actuarial science.