Notwithstanding that Monte Carlo methods were first invented for atomic physics (bombs) and that pharmaceutics operates close by at a molecular level, the more popular application …
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.
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
Pharmaceutical analysis for better medications
Decision tree software: using Analytica as a powerful alternative
When analyzing a situation or a problem, should you draw a decision tree or should you map out an influence diagram? If you have decision tree software, you may …
Influence diagrams and a Darwinian take on decision support graphics
Like biological species, the graphics used in decision support have a story to tell of origins, evolution and even a few missing links. Influence diagrams represent one of the …
Business modeling: keeping up with a moving target
Tomorrow, today’s business model will be yesterday’s. Behind that self-evident observation lies an uncomfortable fact. The rate of change of such models has accelerated over …
Green decision analysis in manufacturing
At one time, manufacturing relied totally on deterministic decision analysis. Neither the PC nor Monte Carlo methods had been invented, but manufacturing decision processes were …
Decision analysis tools: outsourcing vs insourcing
Conventional business wisdom is currently that any non-core competence in an organization should be outsourced to an external supplier that is specialized in that competence…
Analysis in sustainable energy planning
Energy planning in general may allow for simple cost-benefit analysis; however, sustainable energy planning with the multiple factors and tradeoffs involved requires a different …
Standard deviation, sporting predictions & investments
Fancy a flutter? Actually, ‘flutters’, hunches’ and similar notions related to un-quantified intuition are avoided by many sports betting experts. They prefer a more analytical …