'Moving From the Flat Earth: Why We Should Switch to Data-Driven Finance' by Andrew_Gree ai finance
Ancient Greece’s Aristotle was able to provide strong empirical evidence of a spherical Earth. Yes, that’s more than 300 years before we started using our current calendar! But what’s fascinating is that the legacy of modeling Earth as a flat disk can be felt today, and “flat Earthers” are still more than a comical reference.
Fast-forward to today, like the abundant flat-earthers of the early ages; we’re still modeling most of our processes as formulas suitable for paper and abacus calculations. Given the abundance of data and availability of computer power, we look like laggers trying to understand the world through simplified approximations and linear trendlines. What’s most dangerous is that we’re still teaching the younger generations to use these primitive models to run a business.
For example, the company has a sales department of 10 employees. You multiply that number by 12 and by salary, and you get an annual sales department budget. How much insight can you get from this formula? How many decisions can you make?, you will have a table for each employee with all associated parameters such as salary, KPIs, past performance, contract terms, and location, etc. The financial model works with this table and generates.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
SEO Analysis: How to Improve JavaScript Module for 'Related Stories' & HackerNoon's Internal Linking | HackerNoonLaunched in 2016 covering tech, entrepreneurship and productivity. Hackernoon has gone through an amazing transformation over the years.
Les mer »
What is the Significance of Time-Weighted Averages in Data Analysis | HackerNoonLearn how time-weighted averages are calculated, why they’re so powerful for data analysis, and how to use TimescaleDB hyperfunctions to calculate them faster.
Les mer »
Businesses are Tackling Data Privacy Restrictions with Hybrid Cloud | HackerNoonIf a business deals with personal data, it inevitably faces data protection and privacy legislation issues. Here is how the hybrid cloud helps address those.
Les mer »
Corsair’s new gaming monitor bends into a curved displayCurved or flat? Why not both!
Les mer »
Most focused top 3 NFT projects - Why - “Utility as an in-game avatar to DeFi” | HackerNoonSince the start of the pandemic, people have embraced virtual lives. Video games have been major beneficiaries of this shift, particularly online games where people visit to spend time and have fun. These games, many of which are free to play, make money by enabling players to purchase extra in-game virtual assets such as “skins” (costumes for their avatar) or upgrade specific powers or experiences.
Les mer »