195. Why strategists should embrace imperfection
Inside the Strategy Room
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Importance of Bayes Rule in Uncertain Environments
Bayes Rule is crucial in uncertain environments as it allows for the updating of beliefs based on prior probabilities and new evidence. Embracing this approach is essential for generating new data through methods like A/B testing, pilot offers, and leveraging new tools for insights. It also encourages the pursuit of natural experiments. The insight emphasizes the need for a higher level of experimentation, especially in the face of uncertainty, and applauds those willing to take risks for valuable insights and progress.
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