Ivy Dec 31, 2018 No Comments
Data is omnipresent and AI is permeating into our everyday lives. There are numerous new technologies exp
Ivy Dec 26, 2018 No Comments
We discussed in our previous article ‘Beginners guid
Ivy Dec 14, 2018 No Comments
Support Vector Machine (SVM) is a supervised
Ivy Nov 21, 2018 No Comments Marketing Executive at a large Jewellery Company with an International pAlumni Speak– Switching Careers from Jewellery Marketing to Analytics after 8 yrs!
Ivy Nov 02, 2018 No Comments
Coming from the hills of Silchar, this music-lover completed his B.Tech from NIT, S
Ivy Oct 26, 2018 No Comments
Presenting Arpita Acharya who has shaped up her career in Analytics after a good two years of maternity leave.
An aut
Ivy Sep 29, 2018 No Comments
Mrinal Dhar is an adventure-seeker, who wanted to enhance his technical
Ivy Sep 13, 2018 No Comments
Solving guesstimates can be tricky. Not only do you have to rely on unknown data and assumptions, but you also have to come up with an answer in a pressurizing situation such as an interview.
Guesstimate questions are common in interviews, especially if you are appearing for data analytics, consulting, or management roles. And you need a good command of analytical skills and creativity to solve these problems.
In this post, we have explained how to solve guesstimate questions with an example. We have also shared some expert tips and suggested books so that you thrive in the interview.
But first, let’s understand…
A guesstimate is basically a calculated guess. When solving a guesstimate, you make an estimation based on your own logical reasoning.
GUESSTIMATE= GUESSWORK + ESTIMATION
So, it’s not about throwing a random number. Successful guesstimates involve breaking down a big question into smaller, solvable chunks.
For example, an interviewer might ask, “How many deliveries does Zomato make in a day in Delhi?”
You won’t find the exact answer in a textbook. Instead, you will need to estimate the population of Delhi, what percentage of them order from Zomato in a day, and how many times they order. You will also need to do some quick mental math to arrive at a reasonable figure.
The key here lies in demonstrating structured thinking. Even if your final answer isn’t 100% accurate, interviewers want to see how you approach the problem and justify your assumptions.
Here are some of the things the interviewer checks when you solve a guesstimate question:
That said, now let’s see a good approach to crack guesstimates and thrive in your interviews.
Whenever you are asked a guesstimate, the first thing you have to do is calm yourself and ensure you completely understand the question.
You can ask clarifying questions to the interviewer. For example, if asked, “How many phones are used in India?” you should know:
A guesstimate can be scary if you see the problem as a whole. But when you break it down, it gets a lot easier. So, divide the problem into 2-3 parts based on the different factors that influence the answer. To continue our smartphone example, you could break it down into:
Now, you can estimate each piece of your puzzle. Make reasonable assumptions based on your general knowledge. You might not know the exact population of India, but you likely know it’s over a billion. You can round the numbers to make better estimates.
Finally, put your pieces together. You will have to do some mental math to arrive at your final estimate. Remember, the goal isn’t necessarily a perfect number – it’s about showing your thought process and how you arrive at a reasonable conclusion.
Let’s take an example guesstimate question for data analyst roles: How many cups of tea are consumed in Delhi in a day?
Here’s how you can solve it using the above 4 steps:
1. Clarify the question if you don’t understand it. Since this one is simple and self-explanatory, you can proceed with the second step.
2. Break down the problem into manageable parts- what’s the population of Delhi, how many of them drink tea, and how many cups of tea do they drink in a day.
3. Now, you solve each piece of the puzzle.
Population of Delhi (x): Delhi has a big population, let’s say around 3 crores.
People who drink tea (y): Tea is one of the most popular beverages in north India. So, we can expect at least 70% of people would drink it.
Number of cups a person drinks in a day (z): Indians generally consume tea twice a day- one in the morning and one in the evening. Some may drink more than 2 cups, some may drink only one. So let’s say it’s, on average, 2 cups.
4. Now, in the final step, you combine all the pieces of the puzzle:
Total number of cups of tea consumed in Delhi in a day:
= x.(y/100).z = (30,000,000).(0.7).(2) = 42,000,000
So our guesstimate is that Delhiwalas consume around 4.2 crore cups of tea in a day!
The above guesstimate interview question was an easy one. You need a lot of practice to get better at it. The good thing is you don’t have to be naturally talented to do it, you can learn. So, here are some tips that will help you solve guesstimate questions:
You don’t need a rigid formula but a mental checklist to guide you. A simple framework could be: clarify the question, break down the problem, estimate components, and calculate. This step-by-step approach makes sure you address all aspects of the question and prevents you from getting overwhelmed or jumping to conclusions too quickly.
Knowing some basic demographics and statistics will speed up your calculations. For example, if you roughly know the population of major Indian cities, you can start estimating things like market size or potential customer base in certain regions. It’s okay to round and use general figures, but having a few key numbers gives your estimations a solid starting point.
Guesstimate interview questions are all about creativity and problem-solving. Instead of focusing on getting to “the right answer,” impress your interviewer with unique angles and approaches.
Can you tie the question to recent market trends or news? Can you think of an unconventional way to estimate a certain factor? Creative problem-solving would surely impress the interviewer.
If you want to deep dive into solving guesstimates, you can study these books:
If you want to crack interviews and land high-paying jobs, you can attend Ivy Pro School’s certification courses in Data Analytics, Data Science, or Gen AI.
These online courses are taught by industry-experienced mentors from IIT, IIM, and companies like Google and Microsoft, so you can already guess the value of these online courses.
Ivy has been a top-ranked Data Science, Data Analytics, and AI upskilling provider since 2008. We’ve over 26,000 alumni spread across 300+ organizations.
You can also be one of our alumni and work in companies like Deloitte, Amazon, Samsung, etc. Visit this page to learn more about our courses.
Ivy Sep 06, 2018 No Comments
Called the”Oxford of the East” by some, Poona or Pune doesn’t surprise when you look at the % of students swarming the
Ivy Jul 27, 2018 No Comments
Model building is a fundamental part of analytics and data science. To make accurate predictions and generate valuable insights, it’s crucial to follow a structured approach. At Ivy Professional School, a top-ranked Analytics Institute in India, we train aspiring data scientists on the intricacies of model building through our Data Science courses