Thursday, 4 January 2018

[Book Review] Freakonomics - The hidden side of everything!

This book has been out there for a long time now and has been on my list of must reads forever, and I am really glad that I eventually got down to finishing it.

For those who haven't picked it up as yet thinking that this would talk about complicated "economics" topics you might need to readjust that sentiment, this book is more about having a data oriented approach to understanding and solving real life problems. I also really enjoyed the insights that the authors brought about by analysing the available data. Actually, the really commendable bit is that they were able to get access to such a varied set of data.

I really enjoyed the analysis & interpretation that was offered for the sudden decline in crime rates in the US, the inner workings of gangs, and on what parenting approaches are likely to yield better results. I also liked the way the authors explained some basic concepts of statistics (variance), the examples used were simple and really hit home.

My key takeaway was that our perceptions can be really far away from the data driven reality and to suspend my judgement till there is hard data to back "well established" facts.

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