Art of approaching: Exploratory vs Exploitative
This is one of the finest articles, I have seen on the art of balancing Between explorative and exploitative approach.
This is widely used in data science, economics and also in day to day life of engineers, scientists, managers and corporations to choose which way to go and time and resources to invest in.
37% rule in sampling was new to me, but I was already doing it intuitively. Putting a number to an intuition is very handy.
37% rule is mathematically proved, makes it even better to leverage in our decision making. if you don’t have a good psychic perception yet, taking advantage of math and science is not a bad idea
i hope you enjoy the article. Big think articles have been pretty impressive so far.
