Markov models
An intuitive approach to modelling the dynamics of recurring processes for evaluation and decision-making
A scenario…
Congratulations! It’s the first anniversary of your business venture, a cafe and roastery called The Critical Cup. It’s gone from strength to strength - helped in no small part by your evaluative mindset, always asking things like “how well are we doing?” and “how can we do better?”
Something you’ve noticed is that every week: a) new custome…
