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Monte Carlo Analysis for Schedules: More than Just a Mouse Click

Sean Salleh 21 Oct 2013 Risk and uncertainty

Project managers using Analytica to model schedules benefit from the built-in Monte Carlo engine. That makes the simulation runs for a given model effortless from the user’s standpoint. However, determining whether or not to do a Monte Carlo...

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Getting Over Your Hesitation on Decision Support Systems Software

Sean Salleh 18 Oct 2013 Modeling methods

For Decision Strategies, Inc., the recommendation is clear: ‘Executives who are hesitant about using decision support systems should consider Analytica.’ Pointing executives and managers towards Analytica is justified in many ways. But do executives know what decision support...

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Decision Analytics and Feedback Loops – The Driver and the Driven

Sean Salleh 17 Oct 2013 Modeling methods

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 things. Descriptive analytics are the rear-view mirror.  That...

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Modeling Software as a Service and Accounting for Profitability

Sean Salleh 16 Oct 2013 Modeling methods

Modeling Software as a Service and 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. If...

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Data Modeling Without Tears: Perils and Pitfalls to Avoid

Sean Salleh 15 Oct 2013 Modeling methods

If a model is to yield a result, it needs data. Data are described by a data model, sometimes very simple (‘year’); sometimes more complex (energy consumption by type of energy, consumer category, geographical area, month, year and other...

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Is Risk Assessment Is A Risky Business?

Sean Salleh 14 Oct 2013 Risk and uncertainty

As if risks in general weren’t enough, the question is now about the quality of the risk assessment itself. Even more daunting, lists of ‘mistakes in risk assessment’ have been multiplying thanks to different authors – and they...

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Resource Use Analysis and Modeling of Recycling, Waste Prevention, and Eco-design

Sean Salleh 11 Oct 2013 Energy and environment

Do we actively poison our environment? Some would say yes – that the substances we artificially produce are positively noxious, pointing to vehicle emissions and sewage as examples. While there’s no denying that the human race does pollute to...

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Renewable Energy Analysis: When It’s About the Politics, Not the Grid

Sean Salleh 10 Oct 2013 Energy and environment

How much will renewable energy replace conventional energy this year? Next year? In ten, twenty or more years? Which countries will switch to renewable energy when? To understand how the future may map out, we can build models with Analytica...

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Do Decision Support Systems Tend to Prevent or Incite Healthcare Mistakes?

Sean Salleh 09 Oct 2013 Modeling methods

Nobody is likely to disagree with the notion that decision support systems in healthcare are there to help people make better decisions. When things work well, it is capable of producing relevant results from complex datasets and preventing errors from...

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Operational Risk Scenario Analysis: If Modeling Processes and Systems Is Difficult, Try People

Sean Salleh 08 Oct 2013 Risk and uncertainty

Operational risk scenario analysis may sound like a mouthful, but here’s what it’s all about. Firstly, operational risk is the risk to a business of loss from processes, systems and people. While this includes external events, it typically...

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