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In Business Occam's razor is a great principle to remember: - William of Ockham (c. 1287–1347)
- waynefarran
- Dec 17, 2014
- 1 min read
Last week I was faced with making a decision with limited information and/or conclusive data.
When considering all of the decisions that we are faced with in business today, the one true principle that has been used throught the ages, "Occam's razor" is a simple principle to apply.
The principle states that among competing hypotheses, the one with the fewest assumptions should be selected.
Other, more complicated solutions may ultimately prove correct, but in the absence of certainty, the fewer assumptions that are made, the better.
Perhaps something to remember.
Wayne~
