Mastering Back-of-the-Envelope Math Will Make You a Better Data Scientist

Back-of-the-envelope math, or quick-and-dirty estimates, can be more useful than complex models in many business scenarios. Such estimates help cut through complexity, enabling quicker and often sufficiently accurate decision-making. Scenarios are outlined for when rough estimates are appropriate, including assessing minimum viability, ranking options, and making best guesses. The post provides guidance on creating structured estimates and getting stakeholders comfortable with their accuracy.