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Existing spreadsheet software is made for analyzing tables of data. Excel, Google Sheets, and similar tools are fantastic for doing statistics on things that are well known.

 

Unfortunately many important things are not known. I don’t yet know if I will succeed as an entrepreneur, when I will die, exactly how bad sugar is for me. No one really knows what the US GDP will be if Donald Trump gets elected, or if the US can ‘win’ if we step up our fight in Syria. But we can make estimates, and we can use tools to become as accurate as possible.

Estimates for these things should feature ranges, not exact numbers. There should be lower and upper bounds.

Sourced through Scoop.it from: medium.com

See on Scoop.itBig Data, Computation and Internet of Things

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