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Systems and processes are irrevocably connected to data, numbers and patters. Therefore, our ability to make sense of the numbers and data is extremely critical. Nassim Taleb in his book Skin in the Game beautifully explores different methods of understanding systems and processes. One of the key principles he examines is of ergodic and non-ergodic systems.
To put it simply, ergodic systems are those which have no ‘deep sense of history’. The average outcome of a sub-set is same as the outcome for the entire unit. Ergodic systems follow the same pattern across time, and return to every possible state infinite number of times.
To put it simply, ergodic systems are those which have no ‘deep sense of history’. The average outcome of a sub-set is same as the outcome for the entire unit. Ergodic systems follow the same pattern across time, and return to every possible state infinite number of times.