Category: Decision analysis & multi-criteria

Decision analysis is a set of methods to help people and organizations address challenging decisions more effectively than using simple intuition. It provides tools like decision trees and influence diagrams to help structure problems, multiattribute (multicriteria) methods to handle problems with several often conflicting objectives, quantifying attitudes towards risk, and ways of treating uncertainty using probability distributions.

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Past Blogs & Case Studies by Category

Energy & Power

Enviornment & Climate

Water & Ocean Resources

Risk & Uncertainty

Transportation & Manufacturing

Defence & Security

Academic Research

Lumina Consulting Firms

Category Posts

07/08/2024 | Case studies, Decision analysis & multi-criteria, Energy & power, Lumina consulting projects, Newsworthy, Portfolio management, Risk & uncertainty, Videos

Helping gas utilities reduce risk with RSE

None

Learn about the decision-support web application named ANAGRAM (Analytica for Natural Gas Risk Analysis and Management).

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07/08/2024 | Blogs, Decision analysis & multi-criteria, Modeling tips & tricks, Portfolio management, Projects by consulting firms

Analytica & systems dynamics: interview with Cory Welch

Max Henrion

Cory Welch gave a paper on using Analytica at the International System Dynamics Conference on why and how he uses …

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07/08/2024 | Analytica in the cloud, Case studies, Decision analysis & multi-criteria, Energy & power, Environment & climate, Lumina consulting projects, Newsworthy, Open-source models, Videos

Building electrification: heat pump technology

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Lumina set out to build a useful tool to assess the benefits of heat pumps. Learn more about heat pumps and their impact.

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07/08/2024 | Decision analysis & multi-criteria, Modeling tips & tricks, Risk & uncertainty, Videos, Webinars

The value of knowing how little you know

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Understand the Expected Value of Including Uncertainty (EVIU), compare with the Expected Value of Perfect Information (EVPI), and the insights it gives into a variety of problems.

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07/08/2024 | Academic research, Case studies, Decision analysis & multi-criteria, Energy & power, Environment & climate, Risk & uncertainty

Social influences in modeling energy decarbonization

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Discover how blending social dynamics with energy models revolutionizes climate policy, offering sustainable, culturally-informed solutions.

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07/08/2024 | Blogs, Decision analysis & multi-criteria, Modeling tips & tricks, Risk & uncertainty

Estimation of the EVI using Monte Carlo

Max Henrion

The expected value of information (EVI) lets you estimate the value of getting new information that reduces uncertainty. At first blush, it seems paradoxical that you can estimate…

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05/22/2024 | Decision analysis & multi-criteria, Projects by consulting firms, Spreadsheet conversions, Videos, Webinars

Accelerating decision modeling with Analytica

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Analytica helps consultants quickly build decision-support models, boosting productivity and client satisfaction, as detailed by CEO Max Henrion in this webinar.

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06/16/2023 | Academic research, Case studies, Decision analysis & multi-criteria, Environment & climate, Water & ocean resources

Rehab for a river ecosystem

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Rivers tamed by artificial channels, dikes, and levees to reduce flooding, often damage habitats. Researchers created IRRM to find the best way to rehabilitate river ecosystems.

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