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To forecast the future, marketing leaders often look to the past. But the past isn’t always a very reliable gauge of future conditions. For proof, we need to look back to a day-in-the-life of a turkey, and implications of not preparing for possible “extreme” events around the corner.
First, let…
Continue reading "Of Risk Control and Thanksgiving Turkeys"Tags: Black Swan, budgeting, forecasting, future, mathematical modeling, models, Nicholas Taleb, normal distribution, probability exercises, risk control, risk management, scenario planning, turkey parable, Wilmott Magazine
Posted at: 8:20 am in Featured Posts, Marketing Analytics and Modeling, Marketing Strategy, Strategy and Tactics | Permalink | Comments (2) | Trackbacks (829)
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