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Category: Risk & uncertainty

From its inception, Analytica was designed to analyze risk and uncertainty — unlike spreadsheet applications which require special add-ins. Analytica’s fully integrated features for sensitivity analysis, scenario analysis and Monte Carlo simulation make it remarkably simple to treat risk and uncertainty in your models. Here are some examples of how organizations are using these methods.

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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

06/15/2023 | Case studies, Energy & power, Environment & climate, Lumina consulting projects, Newsworthy, Risk & uncertainty, Spreadsheet conversions, Water & ocean resources

The future of electricity in the US Pacific Northwest

See how the region plans to meet its aggressive carbon emission targets while ensuring that utilities can provide economic and reliable power.

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06/15/2023 | Case studies, Environment & climate, Projects by consulting firms, Risk & uncertainty, Water & ocean resources

Flood risk management in Ho Chi Minh city

After a devastating flood in Ho Chi Minh City, the World Bank used Analytica to develop a robust strategy to help the city manage and reduce risks of future flooding.

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06/15/2023 | Case studies, Projects by consulting firms, Risk & uncertainty

Earthquake insurance: cost-effective modeling

An analysis of earthquake scenarios and insurance rates helped a San Francisco county optimize insurance premiums and move toward a long-term risk management strategy.

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06/15/2023 | Academic research, Case studies, Environment & climate, Open-source models, Risk & uncertainty

Integrated assessment of climate change

The Integrated Climate Assessment Model (ICAM) has generated a wide range of valuable insights into how to adapt to global climate change.

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01/12/2023 | Analytica in the cloud, Blogs, Modeling tips & tricks, Risk & uncertainty

Is the Fermi Paradox due to the Flaw of Averages?

Why haven’t we not encounter aliens? How to resolve this paradox by treating the parameters of the Drake Equation as uncertain — an example of Sam Savage’s Flaw of Averages.

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03/14/2022 | Blogs, Data mining, statistics, & AI, Risk & uncertainty

Pi Day comparison: Monte Carlo vs Latin hypercube vs Sobol sampling

This blog will be visiting the dart-throwing method of estimating π and comparing how fast or slow different sampling techniques converge to the actual value of π. The sampling techniques…

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11/11/2019 | Academic research, Blogs, Data mining, statistics, & AI, Modeling tips & tricks, Newsworthy, Portfolio management, Risk & uncertainty

Book review: decision making under uncertainty

This just-released Spanish-language textbook from Professor Jorge E Muro Arbulú has now taken its spot as my favorite textbook on …

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10/18/2018 | Blogs, Decision analysis & multi-criteria, Modeling tips & tricks, Risk & uncertainty

Testing hypotheses about causation

In 2002, I developed a statistical framework for testing whether your data provides statistically significant support for the hypothesis that A causes B. I published only one…

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