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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

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Category Posts

09/20/2018 | Blogs, Data mining, statistics, & AI, Risk & uncertainty

How the strange Cauchy distribution proved useful

On Tuesday I had an interesting exchange with Jorge Muro Arbulú, a professor in Peru, about the Cauchy distribution, which also called the Lorenzian distribution.

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07/16/2018 | Blogs, Data mining, statistics, & AI, Modeling tips & tricks, Risk & uncertainty

World Cup Soccer. How much does randomness determine the winner?

A few years ago France beat Croatia in the World Cup final. Congratulations to France for winning the last world championship! And also to Croatia for making it to the final…

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01/08/2015 | Blogs, Risk & uncertainty

An interesting Christmas gift

Over the holidays, the New York Times delivered an unusual juxtaposition of headlines and content, and apparent lack of self-awareness, to illicit such a hearty chuckle from…

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12/05/2013 | Blogs, Energy & power, Environment & climate, Optimization & solvers, Risk & uncertainty

Smart grid electricity management & decision analytics

To smart or not to smart, that is the question! Except, despite what our TV offerings often display, going smart is always the best choice. Like any human-made system, we should…

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12/03/2013 | Blogs, Energy & power, Environment & climate, Risk & uncertainty

Climate change effects & econometric electricity demand forecasting

Whether you find global warming as an ethereal notion only worthy of banter or, like many scientists, a real phenomenon to be studied, the effects pose difficulty for…

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11/29/2013 | Blogs, Energy & power, Modeling tips & tricks, Risk & uncertainty

Electricity price forecasting via time-series, regression & nearest neighbor models

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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11/22/2013 | Blogs, Decision analysis & multi-criteria, Modeling tips & tricks, Risk & uncertainty

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 …

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11/21/2013 | Blogs, Health & pharmaceuticals, Risk & uncertainty

Risk management analytics in clinical trials

Whether they are for preventing malaria, detecting melanoma, diagnosing Alzheimer’s disease, treating diabetes, or improving the quality of life for soldiers post-war, clinical…

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