article thumbnail

Let Algorithms Decide – and Act – for Your Company

Harvard Business Review

If you needed a hammer, for example, someone would manually produce one for you. The industrial revolution enabled the mass production of hammers with consistent quality and lower cost. However, there will be many other cases where using a decent predictive model to improve decision quality is good enough.

Hammer 8
article thumbnail

Let Algorithms Decide – and Act – for Your Company

Harvard Business Review

If you needed a hammer, for example, someone would manually produce one for you. The industrial revolution enabled the mass production of hammers with consistent quality and lower cost. However, there will be many other cases where using a decent predictive model to improve decision quality is good enough.

Hammer 8
article thumbnail

Lean Doesn’t Always Create the Best Products

Harvard Business Review

They expect quality, and use it both as a selection criteria for purchase and as a constraint for sustained use. There are all sorts of contexts where speed is more important than this form of quality, and that means that this design approach isn’t for everyone or every situation.