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The Application of Pharmaceutical Analysis for Better Meds and Prescriptions

Sean Salleh 16 Sep 2013 Modeling methods

Notwithstanding that Monte Carlo methods were first invented for atomic physics (bombs) and that pharmaceutics operates close by at a molecular level, the more popular application is in evaluating chances of commercial success for new drugs and treatments. Application of...

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Energy Technology Predictions that Really Will Come True

Sean Salleh 13 Sep 2013 Energy and environment

History repeats itself, so the saying goes. If so, energy technology predictions would be easy to make. However, given the difficulty of predicting next year’s fashion trends, let alone the technologies that will power the world for the next...

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Decision Tree Software: Using Analytica as a Powerful Alternative

Sean Salleh 12 Sep 2013 Modeling methods

When analyzing a situation or a problem, should you draw a decision tree or should you map out an influence diagram? If you have decision tree software, you may (for reasons of availability) be swayed in the direction of the...

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Business Impact Analysis for Disaster Recovery Planning And Beyond

Sean Salleh 11 Sep 2013 Risk and uncertainty

Business impact analysis (BIA) is a stage in the disaster recovery planning process, in which organizations seek to prepare for business interruptions with a plan to surmount them as quickly and effectively as possible. BIA is the process of understanding...

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Influence Diagrams and a Darwinian Take on Decision Support Graphics

Sean Salleh 10 Sep 2013 Modeling methods

Like biological species, the graphics used in decision support have a story to tell of origins, evolution and even a few missing links. Influence diagrams represent one of the more evolved forms of these graphics. Clear and simple to understand,...

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Enterprise Risk Management And Handling Concentration Risk

Sean Salleh 09 Sep 2013 Risk and uncertainty

Concentration risk is a term that is used frequently in financial institutions to describe a risk that is significantly greater than others; for example, lending a high amount of money to a certain category of customers. The concept can be...

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Today’s Business Model: Keeping Up With A Moving Target

Sean Salleh 05 Sep 2013 Modeling methods

Tomorrow, today’s business model will be yesterday’s. Behind that self-evident observation lies an uncomfortable fact. The rate of change of such models has accelerated over the last decades. Success stories like Amazon go through business...

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Business Modeling: the Sandbox Theory and Some Cybernetics

Sean Salleh 04 Sep 2013 Modeling methods

In IT, the term ‘sandbox’ is used to denote a computing environment specifically designed for experimentation or test of a program, without the risk of malfunction then affecting other IT entities. Test environments like this exist in other domains...

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Operations Management Practice: Between Supply Chain and Value Chain

Sean Salleh 03 Sep 2013 Modeling methods

Is there anything in a business that is not covered by operations management practice? By definition, all of an enterprise’s internal processes are included: supply chain for instance, already a complex subject in its own right, is just part...

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OR Analysis and the Role of Heuristics

Sean Salleh 02 Sep 2013 Analytics and OR

OR analysis is all about modeling operational situations and problems with math, logic and scientific theory – or is it? Despite the common perception of scientists in lab coats (operational research would like to get them into business suits, but...

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