Flip the switch and the light goes on. How simple it is to take this for granted. Large-scale engineered and networked systems manage our daily electrical needs, and many…
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Category Posts
Electricity price forecasting via time-series, regression & nearest neighbor models
Risk analysis methods from probability, clustering, to multi-attribute utility theory
Machine failure, patient injury, terrorist attacks, and oil spills are just a few events we endure and have to prepare for in life. It is hard to manage things that are not …
Uncertainty analysis: are you sure about what you’re not sure about?
Tracking uncertainty in the input data in a model and showing how different degrees of such uncertainty affect the final result are strengths of Analytica. However, uncertainty …
Decision analytics & feedback loops: the driver & the driven
Out of descriptive, predictive and decision analytics, decision analytics are squarely in the here and now. If you look at the Lumina analogy of driving a car, you’ll see several …
Modeling software as a service (SaaS) & accounting for profitability
What should you expect in terms of profitability when modeling software as a service? Conventional business theory says an enterprise cannot be unprofitable over too long a time…
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 …
Experimenting with business analytics
How do you see the business analytics trio of descriptive, predictive and decision analytics? If you see these activities as mechanical IT processes, you may well head off into …