The Modeller’s Miscellany #85
Why we’re wrong about nearly everything.
Perils of Perception – Why we’re wrong about nearly everything
We’ve written a lot in the past about biases. If we want to avoid the Dunning-Kruger effect, we have to be aware of them. In The Perils of Perception, Bobby Duffy presents research that indicates that no matter how educated we are, we are likely to be wrong when it comes to some rather basic facts about the world around us.
We’ll send you a free copy in return for suggestions of useful stuff to include in the Miscellany.
End of open week
Thanks to all of you who came along to our Open Week. It was fun for us to open the doors meet some awesome new people from all around the world. Thanks for taking the time to check us out. Our next cohort begins on the 29th of November.
The biggest ever tidal power generator
In May of this year, the Orbital O2 tidal powered turbine was sailed out of Dundee, Scotland bound for its home off the coast of the Orkney Islands. Since then the 680-tonne 2MW turbine has been generating power from the fast-flowing tidal waters. In the latest episode of The Project podcast, Kenny is speaking to Christopher Milne from Orbital Marine Power Ltd to find out more about how the company got to this point and what their plans are for the future. Listen here.
It’s been a while since we shared any stories on spreadsheet errors. So here’s a couple, just to remind you that they haven’t gone away.
The first one is about the Government of Ireland mistakenly awarding grants to five overseas academics. The error resulted in education authorities having to issue additional research awards to the intended recipients at a cost of almost €500,000. Read more.
Our second story is not an error in a spreadsheet, but the mishandling of one. This time the details of more than 1,000 British Special Forces soldiers were accidentally shared. Read more.
Using a waterfall chart in reporting
This article is about revenue forecasting for startups. While that may not be directly relevant to you, the author presents an interesting format for presenting changes to budget/forecast numbers over time. We’re always interested in ways to better present financial data. Check it out here.
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