How To Solve Guesstimates | Consulting Interview Preparation | Guesstimate Questions | Insider Gyaan

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In this video - How To Solve Guesstimates | Consulting Interview Preparation | Guesstimate Questions | Insider Gyaan - we are going to solve a real guesstimate question that I was asked in one of my Interviews. I am also going to give you some tips on how you can approach guesstimate questions in consulting interviews
Insider Gyaan was started by IIT, IIM, ISB alums, having worked in management consulting, investment banking and other corporate fields, to share their career experiences, journeys, mistakes, provide guidance on MBA preparation, job interview preparation, case frameworks, working in startups, basic work skills in corporates, such as excel, powerpoint, day in a life, etc. All of this with the hope that current students and young professionals make their career choices from a place of awareness.
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Video Title - How To Solve Guesstimates | Consulting Interview Preparation | Guesstimate Questions | Insider Gyaan
Tags: guesstimate questions, guesstimate questions for consulting interviews, guesstimate interview questions, how to solve guesstimate questions, guesstimate questions aditya agarwal, guesstimates, guesstimate, consulting interview, interview questions and answers, management consulting, insider gyaan, guesstimate questions zs associates, zs associates, guesstimate tutorial, guesstimate case interview, guesstimate interview, guesstimate chhavi gupta, guesstimate questions bain

[@eshaanarora8365]

Loved the approach towards solution. Personally, I feel that since a kite is not an expensive item, income levels of households would not impact the number of kites per household. Found the age approach more appropriate. Thank you for the video!

[@prathamsharma4416]

exactly

[@shivarajhalageri2513]

Great content ma'am please do continue putting out such videos they will help a lot of people aspiring to be placed during college placement season.

[@sathviknk3188]

Would be great if u can pin the calculation screen while giving the explanation makes it more inclusive rather than the camera facing you.

[@shreeniketfatangare668]

I did the household thing by dividing households on basis of religion. Non Hindu household percentage buying kites, I assumed will be less. And estimated accordingly.....

[@shreeniketfatangare668]

How will the interviewer perceive this approach?

[@salonigupta8252]

even i think thats a better approach than income

[@incrediblemotivation2644]

​😂🎉😂😂😂😂😂😢😢😢🎉😢😢😢😂🎉😂🎉😢🎉🎉😂🎉😂🎉😢😂

[@incrediblemotivation2644]

​😂😂😢😢🎉

[@incrediblemotivation2644]

​

[@piyushraj7487]

Beautifully explained and got to learn new thing "guesstimate"👍

[@InsiderGyaan]

Thats awesome :)

[@soumyamukhopadhyay113]

thank you ma'am it really help in market research interview.

[@prakharsinha5397]

Thank you for this video, this was a very good one explaining the approach.

[@productivityaccount8274]

Thanks, really got to learn about estimating numbers throught structured approach

[@arpitraj5366]

What a helpful video. Brilliant approach and concepts cleared very well. Thank you for the video!

[@hemantamahunta3713]

Very useful ma'am.. Plz make such videos.. Nd thank you so much for sharing ur knowledge..❤️

[@amritakumar89]

Best series ever, thank you so much !!

[@Umjetnost_dusk]

This video is really helpful, please make more such videos

[@mohduvesharoon1259]

It can be also solved on the basis of Gender. Means male and Female. Suppose 8M Population is there in the Ahmedabad. But it seems to be that higher number of males use fly kites. So we can also solve this

[@deepakramalingam4760]

Great Video please do more videos like this!

[@ishaavasthi1038]

Need more such videos ❤

[@RIYADHARIWAL-p3t]

How can we guesstimate this using supply side approach?

[@bhavyasharma3351]

Can't we do by this approach? Like dividing 8 Million by 3? For 3 equal groups? And then will do the rest of the process same?

[@vedantkasat5790]

Are there some more videos on guesstimate?

[@shyamlalpapadwala8024]

How do we solve this - Estimate the total number of employees working in your previous organization?

[@sankuM]

Well, we didn't consider people who use 'rods' or 'roads' to get kites and then fly...!! 🤪🤣 (those are dangerous btw!) BUT, really informative and got good idea ki how to approach such questions..! thanks!😁 @Insider Gyaan

[@InsiderGyaan]

Lol they do that!?

[@sankuM]

@@InsiderGyaan yepp.... please visit Ahmedabad around 14/15th Jan sometimes!! You'll witness everything people do! 😅😅

[@SAIKASHYAPCHILAKAMARRI]

What are your thoughts on taking households and breaking them as per religion?

[@ankitasingla1123]

how to remember all the figures will they give pen or paper to solve the problem

[@Panditponga53]

Respected Mam I am in class 12 currently from commerce background i like to solve case studiess progblems.. And I successful able to solve this guesstimate ... ! I also want to be a successful management consultant..!

[@InsiderGyaan]

Great. You can start applying after ur college :)

[@siddharth132456]

You forgot to differentiate with gender 95% males only flies the kites. You need to get a % of males in ahmedabad then it must be a good estimate

[@AkshaySowdari]

Can I ask for a rough paper while solving, is it appropriate or fault, could someone please respond I've interview in few days!!!!!!

[@ajent7]

how about we consider the fact tht rich people wont fly kited , and low income people will be more interested in fflying kites and it is not that costly

[@badrinathillur6037]

how can income matter for 20 rs kite? little low on logic

[@meltedice-cream6499]

cant we just say id rather use backward linkages

[@challengex8401]

Sonu was here.

[@dinuthomas277]

How to get job in banking abroad with an MBA degree and 7years of experience

[@InsiderGyaan]

By applying / netwokring on linkedin

[@shubhamchauhan9756]

this is fun and useful. please make a few more case videos on different topics e.g. supply chain, ops, product.

[@bubblegum9826]

Hello! I am applying to a supply chain consulting firm and was freaking out a bit about the interview! Thank you for this video! You've explained it in a simple and wonderful manner! This also makes me realise that with just a little bit of practice, i too would easily be able to answer such questions! TYSM~

[@daredevil_491]

it's about raate not logic

[@ritikagupta3607]

Mam, never ever stop this series. Outstanding

[@gudipatiraghavendra7424]

The 1st Approach was great, but I felt that you should have excluded the female population from all age groups or included a minimal percentage of the female audience as it makes a massive difference in the overall results.

[@zorawarmodi19]

Yes, thats what I was thinking too

[@puneetgupta6856]

Hey someone can please explain to me what was the need of First part of the solution because we assumed 2,4 and 8 kites in the second part and there was no use of the first part

[@rupamrajak3910]

Ma'am You explain so well .. I am currently pursuing MBA and in my 2nd year ... and follow you every videos and advice like a mantra ...please continue with this series of solving quesstimate with different kind of problem it will be of great help for students like us as placement season is knocking the door. And I will suggest if in the end of your video you give 1 or two question guestimates which will be topic of your nxt video so that we can solve during the period and then match with your one and we get a rough idea of our way of solving Thanks you ❤️

[@InsiderGyaan]

Good idea, next time i do one of these videos, i will give a set of questions :)

[@rupamrajak3910]

@@InsiderGyaan yess ma'am... Thank you for considering 😍

[@sayantanidas1206]

It was explained in such a systematic manner which was immensely helpful. Thank you. Please continue posting such great videos.

[@InsiderGyaan]

Absolutely! Thank you :)

[@avisankhadutta4053]

Arts background right? 😂

[@gadgetsfever4901]

Don't speak in Hindi

[@anshitseth586]

Great ma’am

[@rushabhjha3000]

Gold content.

[@souhityasamanta1227]

Yes we want such guesstimates more.

[@mohitsabat2423]

I have done it (solved) effortlessly Ma'am I am too much grateful to you Keep giving us more questions to solve it will help me a lot Thanks 🙌🤞

[@InsiderGyaan]

That’s awesome!! Will keep doing :))

[@mohitsabat2423]

@@InsiderGyaan mam pls mam video on BAF Undergrad who can go for consulting what skillset's do they need and also make one more video on How to get Internship in Consulting firms and how to apply their. thanks

[@praveenroyal2941]

Good explanation. I would like hear the name of framework/approach you are following whether its top down approach or bottom to top approach.

[@HARSHITCHOPRA2K21_CO_18]

I am new to solve guesstimates, personally I believe that the income levels will not decide who will fly kites, ironically, lower income household fly kites more than the higher income households now a days, but again in guesstimates there is never a wrong or a right answer

[@shikshasingh8746]

please make more on gussitimates

[@salonigupta8252]

Hi! for the household approach, how about dividing the chunks into ethnic groups and non ethnic groups? income seems a little redundant factor cause kites are mostly 2 3 rs. worth and in realty, its usually the mid and low income segments enjoying such fervors with more enthusiasm. any input would be appreciated on this.

[@InsiderGyaan]

yes totally doable, as long as you have some nos. handy for those. It is ok to follow any logical approach - and good to highlight your reasoning, like kites are cheap so income might not matter much

[@aasthavishwakarma6800]

Ma'am that was really well explained, need more videos of such kind!

[@1SunnySharma]

Basically she use the tree structure or decision tree approach!

[@Officialyasirbadawi]

You def do make me want to learn Hindi 😂 thanks for the vid ❤

[@anuradhagupta6658]

Hare Krishna didi❤ Thank you so much 😊

[@varshavshenoy1363]

Too good ma'am. Plz upload more guesstimates.

[@iansaviodsouza6092]

Very useful strategy ... tnx

[@sakshamgupta951]

Really interesting, please upload more of such guestimate videos.

[@100Shazi]

Hey! Pls continue this series of videos for Guesstimates as it's really helpful for prep

[@kashishchauhan5641]

Definitely need more such videos.

[@himanshuchaukade463]

Much helpful.

[@rampalgrihdhwajsingh7235]

well explained

[@RohitPatel-kp2ut]

Hello mam, I am senior Auditor in up goverment,that is govermet job.I want to settled in uk or canada .Is my job helpful to get job in those countries. Saath me mai Gmat ka exam ke bhi preparation kar rha hu .Gmat ke through Mba karne ke baad kya mai wha job mujhe mil jayegi.My age is now 30. Pls give me sum suggestions.

[@InsiderGyaan]

Yes MBA Bahar se karo to mil jayegi job waha

[@RohitPatel-kp2ut]

@@InsiderGyaan thanku mam

[@vinayakrokade9237]

How much time is given by interviewer to solve this guestimate ?

[@InsiderGyaan]

About 20 -25 I would say