Principle : Ray Dalio
Better
to have decision making system rather than forecasting system ;
How
does this decision making system work?
Statistics
Based:
Collect Data => Fit Data into regression (Data Model using training) =>
Test on data model (using test data) => validate model =>
use real-time data
=> decision;
Principle based:
Define
Principles(based on statistics) => Analyse => Decide ;
Compare both decisions and verify;