Speed to output

Question 1

What are the three best practices for conducting analyses effectively?

Answer 1

1) Adopt 80/20 mindset
2) Leverage all BCG resources available to you
3) Use right tool or methodology for the job

Question 2

What does it mean to use an 80/20 mindset?

Answer 2

You want to get 80% of the value by doing 20% of the work. This involves focusing on the most relevant work that gives good return on the work done. You need to ensure you meet burden of proof at an adequate level. This is enough to confirm or refute hypothesis but not spend more time than necessary.

Question 3

What does an 80/20 mindset look like for work ethic?

Answer 3

instead of seeking perfection in every analysis, prioritize a few important analyses and recognize when further analyses wn’t change the answer

Question 4

What does an 80/20 mindset look like for decision-making?

Answer 4

Instead of boiling the ocean, postponing decisinos and depend on data alone for answer