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 …
Author Posts
OR analysis: do you speak my business language?
Measuring uncertainty & understanding propagation
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 definition, …
5 business intelligence (BI) steps to smooth out a rocky road
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 …
When multi-attribute decision analysis needs Monte Carlo
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 …
Keeping long term environmental modeling credible
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 …
Can OR methods commoditize worker activity?
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 for normal people
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 …
Monte Carlo modeling in personal finance: the ‘whoops’ factor
‘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 …