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Monday, December 14, 2015

Abundance Theory Applied to Analytics

Abundance Theory: Had never heard it called this, and was always as a general mindset rather than a working strategy.   Analytics usually works with constraints, can algorithms take us beyond this? Can we 'feature engineer' ourselves beyond constraints?

" ..... Scarcity theory, a term coined by Stephen Covey, suggests that everything in life has its limit. Whether that thing is a spot on the team roster, a scholarship, a job, customers, funding, promotions or something else, we need to hoard as much as possible for ourselves because there is simply not enough to go around. This same theory also says that there are limited ways to achieve success, and that anyone who wishes to make it must follow the same path and prescription that others have done previously.

In contrast, this coach, through her word and deed, demonstrated to me a living illustration of what Covey labeled abundance theory, or AT. Abundance theory is a mindset that looks at each glass as half full (at least) and sees the world as offering endless opportunity. ... " 

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