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.
Pharmaceutical analysis for better medications
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 ...
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 ...
