In terms of academic pedigree, operational research (OR) analysis has it all or pretty much. Underpinned by mathematics and endorsed by university faculties, it also has solid …
I used to be uncertain, but now I’m not so sure. Whatever the cause, uncertainty is a fundamental part of the real world and has to be dealt with. By way of a
In theory, business intelligence transforms the raw data of organizations into information useful to them at the click of a mouse. Dashboards are updated in real time to give …
Multi-attribute decision analysis (MADA) is by definition a complex matter. Trying to balance or optimize a number of criteria at the same time in order to make a decision is …
Environmental modeling typically requires consideration of longer periods of time than in other domains. Whereas a data center might be modeled for five years, the environment …
For those of you who thought that time and motion models were prehistoric relics, look out! OR methods might just be on the way to modeling new super-efficient workforce …
Standard deviation (SD) is a mathematical way of indicating what is normal or what is exceptional. Some people get very creative with the concept. Applications include anything …
‘Don’t take a personal investment or retirement financing decision before we’ve done Monte Carlo modeling for you!’ When you think that Monte Carlo methods started as a way to …
