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Risk Assessment in Business Continuity: Is it Worth It?

Sean Salleh 29 Jul 2013 Risk and uncertainty

Risk assessment is often cited as a key part of business continuity planning: the discipline of ensuring an organization can keep on working in the face of adversity. As such, it’s a natural playground for stochastic modeling because of...

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The Nuts and Bolts of Transportation Modeling

Sean Salleh 26 Jul 2013 Case studies and applications

Transportation modeling is one of the big applications of operations research methods. It lends itself to analysis using many of the techniques in OR and is also fundamental in the planning of different transportation systems, especially in urban contexts. Transportation...

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Overcoming Data Paralysis with Suitable Decision Support

Sean Salleh 25 Jul 2013 Modeling methods

Paralysis by data analysis is a common ailment in organizations, and it’s probably going to get worse. The more data available, the greater the temptation to examine, twist and tweak. In the bad old days, companies had just a...

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The Future of Business Analytics: Mobility, Collaboration and Big Data

Sean Salleh 24 Jul 2013 Modeling methods

Imagine a world where business analytics are as common on a manager’s PC or mobile device as, say, word-processing applications. Picture business information nervous systems that spread out over the Internet to probe for big data inputs, in order...

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Balanced Scorecard, Meet Decision Analytics!

Sean Salleh 23 Jul 2013 Modeling methods

If you’ve used the balanced scorecard approach before, you’ll know that it extends the older concept of purely financial measures of a company’s performance. Using four ‘lenses’ to assess an enterprise, the balanced scorecard looks at...

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Cost of Energy analysis with Wind Turbines

Sean Salleh 22 Jul 2013 Energy and environment

Finding out how much energy generation costs with wind turbines is essential for calculating the overall investment and return, compared with other sources of energy. The information also has at least another important role as well. Wind turbines are one...

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Business Modeling refreshed from the Web

Sean Salleh 18 Jul 2013 Modeling methods

The better and more up-to-date the input information is for your business modeling, the better quality results it will give you. The trick is to find an efficient way of updating that information. This is one of the major shortcomings...

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Risk Analysis using FRAP: is it just Silo Thinking?

Sean Salleh 18 Jul 2013 Risk and uncertainty

FRAP or the Facilitated Risk Analysis Process aims to get conclusions about risks quicker. It involves a group of subject matter experts and a facilitator, which gives it something in something in common with expert elicitation. However it is also...

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Risk Management: Fish, Finance and the Risk-Risk Tradeoff

Sean Salleh 17 Jul 2013 Risk and uncertainty

Eating fish is good for you, isn’t it? Yes. And No. While fish are valuable nutritionally, especially the ones rich in omega-3 fatty acids, they may also contain methylmercury. Omega-3 fatty acids apparently decrease risks of heart ailments and...

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When Will It Be Ready? Monte Carlo Analysis for Schedules

Sean Salleh 16 Jul 2013 Risk and uncertainty

You may be able to throw more money and people at a project, even if it’s not always advisable. But time? When time’s gone, it’s gone. To help plan and track project schedules, various methods and tools...

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